Welcome to The Food & Drink Business Top 100 Food & Drink Companies 2023 report. Compiled in collaboration with IBISWorld, this flagship report ranks by revenue Australia’s biggest players in the food and drink sector.
This year’s Top 100 reflects the financial reporting from calendar year 2022 and financial year 2023. It’s also worth noting that the list only includes manufacturers and, to minimise reporting inconsistencies, looks at the total revenue of the highest reporting ANZ entity of the company.
The Top 10 was stable this year, in that all the companies in the 2022 Top 10 came back for an encore performance. But while the list was the same, there was some shuffling in the positions.
Fonterra remained untouchable with its $23 billion revenue for FY23, but only $6 billion separated #2 (JBS Australia) to #10 (Treasury Wine Estates).
There was a lot of good news this year, with 31 companies growing their revenue by double or triple figures. That was up from 23 in 2022. AlmondCo Australia and meat processor Craig Mostyn both had revenue growth above 100 per cent.
In terms of rankings, Craig Mostyn, Mort & Co, and Mackay Sugar had double digit moves up the list of 22, 13, and 10 places respectively.
And while some companies rise, others fall. While Australian Lamb Co’s revenue technically fell 53 per cent, that was due to a shortened reporting period. There were five other companies that recorded double digit drops in revenue, with infant formula manufacturers, Bellamy’s Organic and Synlait, registering 18.62% and 18.04% falls respectively.
And finally, welcome to the eight new entrants. Some came rollicking in – Snack Brands, Geraldton Fishermen’s Co-op, and Scalzo Foods Group made their presence known with rankings of 42, 53, and 57 respectively.
Other new arrivals were malt producer Boortmalt Australia (58), almond grower Olam Orchards (59), Newly Wed Foods (64), Cordina Chickens (72), and Beston Global Food Company (95).
UPDATE: A correction to the Top 100 following publication, due to an incorrect figure an incorrect figure supplied for Vittoria Food & Beverage’s FY22 revenue by our data partner IBISWorld, meant the company’s FY23 revenue looked like it fell 17.5 per cent. In fact, when the correct figure was used (FY22 $213 million), Vittoria registered a 21 per cent rise in revenue to FY23 $258 million.
Vittoria MD Rolando Schirato said the company’s impressive year was driven largely by an increase in its retail coffee sales, instant coffee, tea, its café business, and overall improvement in food service.
(Vittoria’s ranking in the 2023 Top 100 remains unchanged. The numerical listing reflects FY23 for all companies.)
You can read the full report here, and for more in-depth analysis follow the links below.
Top 100: The 2023 Top 10
Top 100: The climbers in 2023
Top 100: The falls of 2023
Top 100: 2023's new arrivals
Top 100: Key sectors
Food & Drink Business, in collaboration with IBISWorld, presents this year’s Top 100 companies, a ranking by revenue of Australia’s largest players in the food and beverage sector. The report is sponsored by Foodmach.
The Top 100 reflects financial reporting from calendar year 2022 and financial year 22/23. The list is only inclusive of manufacturers and looks at total revenue of the highest reporting ANZ entity of the company.
