This year, 31 companies grew their revenue by double or triple digits compared to 23 in 2022. Craig Mostyn and Almondco Australia recorded the largest growth with 102.7 and 101.8 per cent growth, respectively.

There were seven companies that recorded double digit drops in revenue, with infant formula manufacturers, Bellamy’s Organic and Synlait, registering 18.62 per cent and 18.04 per cent falls respectively.

There are some commodity processors that dominate the Top 100, with meat processing top of the list. There were 17 meat processors, 27 if you include poultry (7) and acquaculture (3), 12 dairy and five sugar companies on this year's list. 

This year the Top 100 welcomed eight new entrants. Some came rollicking in – Snack Brands, Geraldton Fishermen’s Co-op, and Scalzo Foods Group made their presence known.

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, particularly in the back half. 

Food & Drink Business, in collaboration with IBISWorld, presents a bird’s eye view of the state of play in Australia’s food and beverage manufacturing sector with the annual Top 100 companies report.

In 2022, there were companies holding on to their ranking and new entrants making their presence known. Fonterra and JBS held on to the top spots, but Bega and Thomas Foods joined the fold.

Almost a quarter of the Top 100 recorded double digit revenue growth. Meat processor Frew Foods topped the list recording a 129.51 per cent jump. Arnott’s rose 57.35 per cent, and Bega 38.89 per cent.

With new entrants and other companies on the rise, there must also be falls and even departures. There were 16 companies that had revenue fall by more than 10 per cent.

Fourteen companies joined the Top 100 this year either through performance or refinements to the list’s eligibility requirements and definitions.

Which companies are the Top 10 for 2021? There are the stayers and new players jostling for the spotlight. Fonterra, JBS, CC Amatil, and Lion all held their spots as the top 4, but Asahi arrived with a splash.

Five companies recorded double digit climbs in the 2021 Top 100 with the big hitters Bega and Asahi reaping the benefits of major acquisitions.

Most sectors had some stand-out performers in this year’s Top 100. Agriculturally focused industries continued to make their mark, with meat processors and dairy companies performing well.

The last two years have been challenging with adverse conditions affecting some more than others. Nine companies in the Top 100 have recorded double digit revenue drops for various reasons.

What’s old is new again is how some of this year’s new arrivals can be viewed, while other newcomers were the result of reviewing and tightening the list's criteria.

In collaboration with leading research firm IBISWorld, Food & Drink Business presents its annual Top 100 Food & Drink Companies report for 2020.