Australian Food & Beverage State Of The Market Report - 2021
Access the latest report by Private Label Manufacturers Association (PLMA) in Australia and New Zealand. Benchmark your business and plans for growth against your peers and compare how they navigated the pandemic disruptions.
From drought and bushfires through to COVID-19, Australia’s reputation for premium, high-quality food and beverage products has been proven, navigating major disruptions successfully and maintaining its global reputation.
Businesses servicing consumers through major or independent retailers have seen exceptional growth and opportunities. However, the collapse of hospitality and other sectors has significantly affected other suppliers, forcing them to adapt their offerings to counteract the downturn in demand.
Key market trends
- Despite the challenges, business confidence is the highest in three years
- Being forced to adapt is easier when it is for a positive (such as for profitability or growth opportunities) rather than for a negative (like cost-reductions or efficiencies)
- Overall strategic focus in 2021 is based on how they have had to adapt: profitability, efficiency, and growth opportunities.
Adoption of new technologies
Adoption behaviours have changed in Australia. From online meetings, remote working and online shopping, people have been forced to change the way they interact online. It is not just the early-adopters, industry digitalization is in sight:
- Simulation and production scenarios
- Production line management
- Connecting supply chain.