Australia’s food and beverage industry experienced positive export bounce and organic growth on the back of several key happenings in 2024.
Australia’s food and beverage exports experienced noteworthy growth in 2024, driven by a mix of strong demand in key international markets and strategic government initiatives.
From wine to premium seafood and beef, the nation’s diverse agricultural exports continued to gain ground across the globe, supported by both state and federal efforts to bolster trade relations and open new opportunities.
Global demand
Australia’s food market continues to show strong performance, with revenue reaching more than $140 billion in 2024.
This growth underscores the country’s strong position in global food production and export markets.
The meat sector remains Australia’s largest export category, with a market volume of $29 billion in 2024, contributing significantly to the nation’s agricultural economy.
This was strengthened late in 2024 when China listed its remaining suspensions on two Australian meat processing establishments, paving the way for full resumption of red meat exports to China.
The global food market is especially buoyant in Asia, with China continuing to be the largest revenue generator in the sector, China also remains the second largest export market for Australian beef and veal after the United States.
“We are close to the point where China’s trade impediments which impacted $20 billion worth of Australian exports have all been removed,” said Minister for Trade and Tourism, Don Farrell.
“The removal of trade impediments has not only saved, but also created thousands of new jobs in Australia.
“Beef producers in Queensland, winemakers in South Australia, and barley growers in Western Australia, have all benefited from this Government’s steady hand on the trade tiller.”
Meanwhile, Australia’s food and beverage exports are seeing growth in markets such as Japan, South Korea, and Vietnam, with new trade agreements and promotional campaigns playing key roles in expanding the reach of Australian products.
Queensland’s push for export growth
Queensland has been particularly proactive in strengthening its export opportunities in Asia, following a successful trade mission to Japan and South Korea in 2024.
Queensland’s Minister for Finance, Trade, Employment and Training, Ros Bates, emphasised the state’s efforts to showcase its world-class produce, including beef, coal, and LNG, to key international buyers and investors.
A key highlight of the mission was the Taste of Queensland event in Tokyo, where 150 buyers and business leaders gathered to sample the state’s premium food offerings.
This initiative is part of Queensland’s broader strategy to leverage its strong agricultural base and attract investment to fuel long-term economic growth.
With Japan as Queensland’s second-largest export destination and Korea as its fourth, the trade mission has paved the way for more robust trade relations, particularly for Queensland’s beef industry, which remains a major export product.
Western Australia’s focus on premium products
In addition to Queensland, Western Australia (WA) is also working hard to expand its food export footprint, particularly in Southeast Asia.
WA’s government has launched the Western Australia Gourmet Getaway campaign in Vietnam, aimed at showcasing the state’s premium food products, including meats, seafood, honey, and dairy.
The two-month promotion, which features ten WA brands, is strategically designed to increase visibility, and create new export opportunities in one of Australia’s growing markets.
Vietnam has been a steadily growing market for WA’s agrifood exports, and the promotional campaign builds on previous trade missions to the region.
In 2023-24, Vietnam was WA’s sixth largest agrifood and beverage export destination, valued at $618.8 million, led by wheat, malt, barley, lobster, live beef cattle and lupins.
The “Gourmet Getaway” has already created a buzz among local buyers and consumers, with sampling events, retail activations, and media initiatives helping to increase awareness of WA’s top-quality offerings.
The push for premium Australian products in Vietnam is part of WA’s broader goal to diversify its export markets and strengthen its position as an international food supplier.
“There are exciting times ahead for Western Australian seafood exports to Vietnam, with demand for lobsters and abalone from our pristine waters continuing to increase in this market,” said Fisheries Minister Don Punch.
“This initiative supports the Cook Government’s efforts to drive local, national and export market opportunities for WA’s premium and value-added food and beverage products.”
As demand for WA’s seafood, including lobsters and abalone, continues to grow, the state is positioning itself as a leader in high-end food and beverage exports.
South Australia’s wine revival
Among Australia’s food and beverage exports, wine remains a cornerstone of the nation’s agricultural economy, with South Australia leading the charge.
In 2024, South Australia’s wine exports reached a record $1.7 billion, a 38 per cent increase from the previous year. A significant portion of this growth is attributed to the re-establishment of trade with China following the lifting of tariffs in 2024.
In just seven months, South Australia’s wine exports to China surged to $558 million, a clear sign that the state’s wine industry is bouncing back after a difficult period of diplomatic and trade challenges.
The removal of tariffs on Australian wine, a result of months of diplomatic negotiations between Australia and China, allowed South Australian producers to reclaim a major market.
To capitalise on this opportunity, the South Australian Government launched a proactive re-engagement package, investing $1.85 million to support exporters in re-entering the Chinese market.
This initiative included funding for trade shows, market research, and on-the-ground support for wine producers.
“From a total cessation of wine exports to China, as a result of effort and dedication from wine producers and government alike, the return has been very pleasing,” said Trade and Investment Minister Joe Szakacs.
“Anticipating the lifting of tariffs, it was important to strike while the iron was hot, and that’s why we invested heavily into our reengagement package, supporting our exporters to get back into market as soon as possible.
“We’re seeing dividends of that, and in just seven months since tariffs were lifted our producers have sold more than half a billion dollars of wine to China.”
The rebound in Chinese wine exports, alongside strong growth in other key markets like Hong Kong, has helped South Australia solidify its position as Australia’s leading wine exporter.
With more than two-thirds of the nation’s total wine exports now originating from South Australia, the region’s wine industry is poised for continued success.
As Australia continues to expand its global presence in the food and beverage export sector, 2024 marks a year of resilience and strategic growth.
The country’s diverse offerings, from premium meats and seafood to world-class wine and specialty foods, are gaining increasing attention in key international markets.
Whether through government-backed trade missions, bespoke promotional campaigns, or proactive re-engagement strategies, Australian states are positioning themselves for success on the global stage.
With ongoing support for local producers and a strong focus on building lasting trade relationships, the outlook for Australian food and beverage exports remains bright.
The growth of the industry is not only benefiting producers but also contributing to the broader Australian economy, creating jobs, and driving long-term prosperity.
The impressive growth of Australia’s food and beverage exports in 2024 reflects not just the strength of the industry, but also the resilience and adaptability of local producers.
With major markets like China re-opening and new trade agreements bolstering Australia’s presence across Asia, the country’s diverse agricultural exports continue to gain more traction worldwide.