Fonterra has remained to be on the top of the IBIS list of food and beverage companies by revenue generated.
The largest 100 food and beverage companies in Australia generate in excess of $100 billion in revenue (up from over $96 billion in 2014-15) and employ more than 130,000 Australians.
Strong growth in food processing industries, in addition to milk production in Australia benefitting from joint ventures and expansion of airfreighted fresh milk exports to growing Asian markets has pushed Fonterra into the #1 spot for over two years.
According to IBISWorld senior industry analyst Spencer Little, industry revenue is set to decline in the beer industry as alcohol consumption continues to fall.
"The two newcomers to the list are Green's Foods and a2 Milk. a2 Milk posted revenue growth of 40.2 per cent over the year through June 2015, on the back of fresh milk exports to China and substantial sales growth in a2 Platinum Infant Formula across Australia and New Zealand," Mr Little said.
"After purchasing the remaining 50 per cent interest in the a2 Milk Company Limited joint venture and converting it to a fully owned subsidiary, a2 Milk began exporting fresh milk to China in August 2014. Sales of the company's infant formula skyrocketed in 2014-15."
Top Ten Food and Beverage Companies revealed by IBISWorld
- Fonterra Co-Op Group
- Lion Nathan National Foods
- Coca-Cola Amatil
- JBS Australia
- Devondale Murray Goulburn
- Teys Australia
- Food Investments