Australia’s ‘Top 100 Manufacturers 2019’ powered by National Manufacturing Week has been announced, with Caltex Australia topping this year’s list of leading Australian manufacturers, followed by Fonterra Co-Op Group, Perth Mint, BP Australia and Viva Energy. The release of this year's 'Top 100 Manufacturers' comes as $383.2 billion industry, which employs over 791,000 Australians, is projected to achieve a growth rate of 1.2% over the next five years to $405.8 billion in 2023-24.*
IBISWorld’s compilation of Australia’s ‘Top 100 Manufacturers’ is based on data gathered through primary research of ASIC-lodged company reports for the previous financial year, submitted by manufacturers operating in Australia.
The leading industry categories of the top manufacturers for 2019 include companies operating within Food Product Manufacturing (17), Pharmaceutical Product Manufacturing (7), Basic Chemical & Chemical Product Manufacturing (5), Beverage & Tobacco Product Manufacturing (5) and Non-metallic Mineral Manufacturing (5). According to Liam Harrison, Senior Industry Analyst at IBISWorld, these leading industries of this year’s ‘Top 100’ are reflective of Australia’s largest contributors to trade and exports:
“It’s certainly no surprise to see the ‘Top 100 Manufacturers’ for 2019 dominated by companies operating within food production and non-metallic mineral production. Australia is renowned for its strong agricultural exports and mining, energy and resources industry. Locally, our strict medical standards and regulations create strong opportunities for pharmaceuticals companies operating in Australia.”
Despite the immense opportunities that exist for Australia’s food product manufacturers, this year’s list demonstrates the challenge that volatility poses for food producers in having continued success. Natural disasters and extreme weather events have had significant impacts on their ability to maintain production or revenue streams, in recent times.
“Food product manufacturers, while the leading group of manufacturers in this year’s ‘Top 100’, also made up a strong proportion of the companies that fell the most or completely dropped off the list. This correlates to the level of exposure that food producers have when Australia suffers periods of natural disaster such as drought or flooding, which we all know have occurred over the past twelve to eighteen months. This problem is often compounded, with most food producers are unwilling or unable to pass these increased costs onto consumers due to their contractual agreements with the major supermarket chains.” Harrison explains.