Disruptive dairy processors and fruit producers made their mark in the Australian market, as this year's Top 100 Food & Drink Companies report, developed in collaboration with IBISWorld reveals.
The year's top performing industries included the dairy sector, driven by joint ventures and increased exports of fresh milk to growing Asian markets, particularly China, according to IBISWorld senior industry analyst Bao Vuong.
Especially strong results were seen from Freedom Foods, a2 Milk and Bellamy’s Organic over the year, and these companies raced up the Top 100 rankings as a result.
The fruit industry has benefited from increased demand for avocado and citrus domestically and internationally, with Costa Group (#27) and Turners & Growers (#28) both showing strong revenue growth over the year, according to Vuong.
“In another common trend, many of the companies with the largest growth in the list attributed export markets as a large reason for their strong growth,” he says.
Top 100 companies that successfully expanded into large export markets include Turners & Growers, Costa Group, Teys Australia, Freedom Foods and The a2 Milk Company.
Editorial by Food & Drink Business. All data sourced from IBISWorld.