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Fastest Growing Industries by Imports in Australia in 2023

Based on the expert analysis and our database of 750+ AU industries, IBISWorld presents a list of the Fastest Growing Industries by Imports in Australia in 2023

The 10 Fastest Growing Industries by Imports in Australia

Industry
Growth in Imports for 2023
1.

Poultry Processing in Australia

74.8%
2.

Grape Growing in Australia

38.3%
3.

Grain Growing in Australia

33.9%
4.

Carbon Dioxide Production in Australia

20.0%
5.

Sugar Manufacturing in Australia

19.8%
6.

Vitamin and Supplement Manufacturing in Australia

19.6%
7.

Petroleum Refining and Petroleum Fuel Manufacturing in Australia

15.1%
8.

Nickel Ore Mining in Australia

14.3%
9.

Potato, Corn and Other Chip Manufacturing in Australia

13.2%
10.

Ready-Mixed Concrete Manufacturing in Australia

13.1%

Want to see more fastest growing industries by imports?

View a list of the Top 25 fastest growing industries by imports

Fastest Growing Industries by Imports in Australia in 2023

  • 1. Poultry Processing in Australia

    Growth in Imports for 2023: 74.8%

    Operators in the Poultry Processing industry have contended with mixed operating conditions over the past five years. Increased consumption in poultry consumption and poultry prices has supported industry revenue growth over the period. However, strong price competition among the major supermarkets over the past five years has limited growth in poultry prices, constraining industry revenue and profitability. In addition, strong fluctuations in the domestic price of wheat feed have contributed to volatility in operating costs. These trends have encouraged industry players to consolidate and undertake restructuring efforts in a bid to improve productivity and boost profitability. Overall, industry revenue is... Learn More

  • 2. Grape Growing in Australia

    Growth in Imports for 2023: 38.3%

    Growing conditions have pummelled grape growers and misaligned the supply of grapes with their downstream demand across all markets in recent years. Growers' reliance on irrigation varies according to their production zone. Growers in warm climate zones, like the Big Rivers region in Victoria and New South Wales, rely on irrigation more than growers in cool climate zones, where rainfall tends to be higher and less volatile. Weather patterns have been scattered in recent years, with harvests this year having to bear the brunt of La Nina.

    Extreme weather events and other external factors have made grape growing considerably tricky. Revenue... Learn More

  • 3. Grain Growing in Australia

    Growth in Imports for 2023: 33.9%

    Grain growing in Australia is export-oriented and produces wheat, barley, canola, other grains and oilseeds. Revenue has fluctuated over the past five years, due to volatile weather conditions, global grain prices and crop supplies. Revenue is expected to grow at an annual average rate of 17.3% over the five years through 2022-23, to reach an estimated $27.7 billion. As Russia is a major producer of fertiliser, a key industry input, its price has significantly risen in 2021-22 due to the Russia-Ukraine conflict. Industry profitability has therefore fallen over the period as purchase costs have increased. However, higher output volumes due... Learn More

  • 4. Carbon Dioxide Production in Australia

    Growth in Imports for 2023: 20.0%

    Carbon dioxide (CO2) is a versatile gas used in a range of processes and applications that benefit from its reactivity, inertness and low temperature. CO2 can be produced as a high-pressure cylinder gas, a low-pressure refrigerated liquid or in a solid form as dry ice. Several of CO2's major uses are in food and beverage industries, wherein operators can use the gas to carbonate soft drinks, decaffeinate coffee, freeze food products, and maintain ideal atmospheric conditions in food packaging and during food transport. As a result, the Carbon Dioxide Production industry's performance often reflects developments in Australia's food and beverage... Learn More

  • 5. Sugar Manufacturing in Australia

    Growth in Imports for 2023: 19.8%

    Operators in the Sugar Manufacturing industry have faced volatile commodity prices and fluctuating weather patterns over the five years through 2022-23. The way milled sugar is marketed and exported is also changing, causing a shift in supply chain processes and contributing to uncertainty among sugar manufacturers. Sugar manufacturing revenue is expected to inch up at an average annual rate of 0.1% over the five years through 2022-23, to an estimated $3.45 billion. This trend includes an expected increase of 11.7% in 2022-23. Both world sugar prices and the domestic price of sugar have fluctuated greatly, causing concerns for profitability. Major... Learn More

  • 6. Vitamin and Supplement Manufacturing in Australia

    Growth in Imports for 2023: 19.6%

    The recent performance of the Vitamin and Supplement Manufacturing industry reflects its international orientation. Rising export earnings drove industry growth as demand for Australian 'clean and green' vitamins and supplements from Asian consumers surged. In 2018-19, exports to China increased three-fold as Chinese consumers favoured Australian vitamin brands because of their reputation for safety. Buoyant sales in downstream unofficial daigou channels also promoted strong growth on the domestic front. However, subsequent regulatory changes in China regarding eCommerce sales and daigou trading changed buying patterns, as did travel restrictions implemented during the COVID-19 pandemic.

    This focus on the Chinese market contributed to... Learn More

  • 7. Petroleum Refining and Petroleum Fuel Manufacturing in Australia

    Growth in Imports for 2023: 15.1%

    Operators in the Petroleum Refining and Petroleum Fuel Manufacturing industry process crude oil into a range of fuels and secondary products that are then sold to downstream markets. Crude oil purchase costs dominate the industry's cost structure. The cost of this input, in conjunction with fluctuations in the value of the Australian dollar, contributes to significant revenue volatility, as world crude oil prices are typically passed on to downstream markets.

    Declines in refinery output and rising import penetration have negatively affected the industry over the past five years. However, growth in global oil prices in the current year is expected to... Learn More

  • 8. Nickel Ore Mining in Australia

    Growth in Imports for 2023: 14.3%

    Firms in the Nickel Ore Mining industry faced generally positive operating conditions over the past five years, with very strong pricing growth and demand being partly offset by output declines. Nickel prices surged in 2017-18 due to strong global demand, before dipping in 2019-20 in response to the COVID-19 pandemic. However, world nickel prices surged again in 2020-21 and 2021-22 as demand jumped. Most nickel ore mined in Australia is processed locally into nickel concentrate by downstream smelting and refining firms, or by nickel ore mining companies that also operate their own smelters and refineries. All nickel ore mined by... Learn More

  • 9. Potato, Corn and Other Chip Manufacturing in Australia

    Growth in Imports for 2023: 13.2%

    Potato, corn and other chip manufacturers have faced changing downstream consumption patterns and increased competition from substitute products over the past five years. Most notably, rising health consciousness has encouraged many consumers to take up healthier eating habits. As a result, consumers have increasingly opted for healthier substitute snack products, such as fruit and nut bars or wholegrain crackers.

    Rising health consciousness has also caused a shift in the industry over the past five years. Changing consumer tastes have created some scope for players that offer niche potato chips, such as organic or sweet potato varieties, to enter the industry. The... Learn More

  • 10. Ready-Mixed Concrete Manufacturing in Australia

    Growth in Imports for 2023: 13.1%

    The Ready-Mixed Concrete Manufacturing industry's performance is driven by trends in building and infrastructure construction. The product's perishability restricts supply capabilities to a narrow geographic market. Several large-scale vertically integrated manufacturers together account for over two thirds of industry sales and have branch representation in most markets. These include Boral Limited, Hanson Australia, Holcim Australia, Adbri Limited and the Barro Group.

    The industry has been influenced by divergent trends in the downstream building and infrastructure markets. Industry revenue has declined at an annualised 1.1% over the past five years. Revenue is expected to total $6.7 billion in 2022-23, including a contraction... Learn More

More Industry Trends

Biggest Industries by Employment in Australia in 2023

Based on the expert analysis and our database of 750+ AU industries, IBISWorld presents a list of the Biggest Industries by Employment in Australia in 2023

VIEW ARTICLE

Biggest Industries By Revenue in Australia in 2023

Based on the expert analysis and our database of 750+ AU industries, IBISWorld presents a list of the Biggest Industries By Revenue in Australia in 2023

VIEW ARTICLE

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