Next Big Futures: Australia’s top food brands will open in 2020, with a range of specialty foods and beverages, such as beer and wine, expected to dominate the market.
The Australian Brand Council, which provides a ranking of the nation’s major food brands, released its latest annual report for 2019, and while its food category didn’t make the cut, it did make it to the top of the list.
Its brands include the National Beer Company, which has a presence in Australia, the country’s biggest beer producer, and its Australian Food Company, a subsidiary of the Australian Beer Company.
Foods like chocolate and cheese have also been seen as the future, with both brands now being produced in Australia.
Frozen Foods has been on the rise with sales growing by almost 30 per cent over the past year.
Nestlé, Australia’s largest food and beverage company, is expected to open a new factory in Sydney in 2019 and is planning a second facility in the city in 2020.
In 2018, the Australian Retail Consortium (ARC) predicted that Australia’s grocery industry would grow by 15 per cent in 2020 and the country would become the second largest market for supermarkets.
“In 2020, we expect Australia to overtake the UK as the largest market in the world for supermarket retailing,” ARC’s chief executive, Ian Johnson, said in a statement.
As the 2020s winds down, it will be interesting to see if there is a trend for more mainstream brands to emerge, but the growth of specialty food and beverages is likely to keep growing.
More on the ABC: Food in the news: Why did the price of milk go up?
Topics:industry,food-and-beverage,consumers,business-economics-and the-finance,health,diet,health-policy,lifestyle-and.dieting,alcohol,drugs,social-services,community-and_society,business,people,australiaFirst posted November 15, 2020 16:47:16Contact Adam StirlingMore stories from New South Wales