Citrus, Banana and Other Fruit Growing in Australia Industry Market Research Report Now Updated by IBISWorld
Melbourne, Australia (PRWEB) March 30, 2015 -- Over the past five years, unfavourable weather conditions have constrained revenue growth for the operators in the Citrus, Banana and Other Fruit Growing industry in Australia. Production output was severely constrained in 2010-11 by flooding and cyclones, particularly in Queensland, which contributed to revenue volatility over the past five years. According to IBISWorld industry analyst Brooke Tonkin, “many farmers were able to replant crops soon after the wet conditions of 2010-11, which limited the spillover effect into the following year.” Revenue is projected to grow at an annualised 0.5% over the five years through 2014-15, to reach $2.7 billion. Industry revenue is forecast to grow 3.7% in 2014-15. A key advantage for the industry has been the ongoing popularity of major products, such as bananas and citrus fruits, which has been reinforced by government initiatives that promote a daily intake of fruit and vegetables.
Industry exports have trended upwards over the past five years, as domestic growers have benefited from their reputation for quality produce. “The industry also maintains a competitive advantage due to its counter-seasonal harvesting periods relative to other exporting nations,” says Tonkin. Greater emphasis on controlling unit costs and increasing efficiency are beneficial in maintaining competitiveness, particularly compared with other growing regions that operate with a lower cost base. Imports are expected to grow over the five years through 2014-15. This growth has been driven by the major supermarket chains, which aim to offer customers a variety of fresh produce all year round. Downstream food processors have also driven demand for fruit imports. However, imported fruit used by food manufacturers has come under scrutiny, following a hepatitis A outbreak in February 2015. The industry displays a low level of market share concentration. Major players include Costa Group Holdings Pty Ltd.
Demand for industry produce is projected to be buoyed by ongoing health consciousness and Australia's ageing population, as people in the older age brackets tend to consume more fruit. The Citrus, Banana and Other Fruit Growing industry has substantial growth prospects in export markets, particularly in Asia where population and income growth rates are high. However, competition in the international market will remain fierce. Increasing operational efficiency and the maintenance of product quality are imperative to compete on the global stage.
For more information, visit IBISWorld’s Citrus, Banana and Other Fruit Growing industry in Australia report page.
This industry includes farmers that grow bananas, pineapples, citrus fruit, tree nuts and other fruit.
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IBISWorld industry Report Key Topics
Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
International Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalisation
Major Companies
Operating Conditions
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
Key Statistics
Industry Data
Annual Change
Key Ratios
About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.
Gavin Smith, IBISWorld, http://www.ibisworld.com, +61 396553838, [email protected]
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