Australia's food & Beverages Market Trends Analysis FY 2023

 

Australia is a niche market for high-quality bakery, cereals, flours and confectionery items. Dairy, meat and grains are the key agricultural produce of Australia. According to Australia import export data, the overall meat exports of Australia were recorded to be $11.5 billion during fiscal year 2023. Compared to FY 2022, there was a significant increase of 3% in Australia's meat exports during FY 2023. Bovine meat was the top export from Australia with worth over $7.6 billion in 2023. Bovine meat represents 19% of Australia's overall exports. 

Sheep or Goat meat was the second most exported item from Australia with $3 billion worth. The top destinations for Australian meat exports were the United States ($2.5 billion), China ($2.3 billion), South Korea ($1.5 billion) and Japan ($1.4 billion). The top meat export companies from Australia were Kilcoy Pastoral, Fayman International and JBS Australia Pty Limited.

Wheat is the second major export from Australia representing 12% share of Australian overall exports. As per Australia export data, the wheat exports of the country were recorded to be $9 billion in the financial year 2023. Compared to fiscal year 2022, Australia’s wheat exports dropped to 7% in 2023. Australian wheat exports suffered due to a bad harvest last year.

China remains the leading exporter of Australian wheat exports. In 2023, China imported over $2.2 billion worth of wheat representing over 12% market share. Indonesia, Philippines, Vietnam and South Korea were the fastest growing markets for Australian wheat exports showing notable growth last year. Afrigrain Trading, Sojitz Australia, Graincorp Operations and CBH Grain are the prominent wheat export companies from Australia.

Wool is another major significant export from Australia. In 2023, Australian wool exports were nearly $1.9 billion. China was the leading destination for Australia’s wool exports representing 80% market share followed by Italy (5.8%) and India (5.6%). Some of the sophisticated wool export companies from Australia were Fox And Lillie, Techwool Trading and Scanlan Wool.

When it comes to beverage exports, Australia’s exports were estimated to be $1.8 billion in 2023. There was a decline of 4.5% compared to the previous year. Australia customs data shows that 75% of the country’s overall beverages exports were mostly grape wines. In 2023, Australia’s grape wines exports were estimated to be $1.4 billion. 

The majority of Australian beverages exports went to the United States with exports worth $300 billion. The other significant markets for Australian beverages exports were the United Kingdom, Hong Kong, New Zealans and Singapore. The top beverages exporting companies from Australia were Casella Family Brands, Amber Drinks, Pernod Ricard Winemakers and Dural Wines Australia. 

Whereas per Australia import data, the beverages imports of the country were $2.2 billion in 2023. The most favoured destinations for Australia’s wine imports were New Zealand, France, United Kingdom and the United States. Bacardi Martini Patron International, and Brown–Forman are the two biggest Australian beverages import companies in terms of shipments.

There is immense potential in Australia’s food and beverages industry. Australian food and beverages companies who are looking for global expansion can capitalize on the global import export data providers. Through these intelligence reports, Australian companies can identify their product demand, destination countries, interested international buyers and competitor shipments. It is the most cost-effective and profitable means to double business sales from the international market.