Petrol giants Caltex and BP Australia as well as dairy giant Fonterra have made the top three in Australia’s top 100 manufacturers for 2020.
Advanced Manufacturing Expo’s Top 100 Manufacturers report, in conjunction with IBISWorld, ranks business according to revenue.
The report named Caltex number one for the second consecutive year with Fonterra coming in second, followed by BP Australia, Perth Mint and Viva Energy Group.
Beverage giant Lion fell four places on the list this year, coming in at 19, from 15 last year, while Carlton United Breweries fell to 28, from 23.
The list includes 18 food companies and five across Beverage & Tobacco.
“Australia’s reputation for pristine environments and high-quality production in food and beverage products is also expected to boost revenue for manufacturers within this industry segment,” according to Aaron Vaserman, enterprise researcher, IBISWorld Australia.
“Previously, Australian manufacturers have had difficulty competing with their Asian counterparts, predominantly due to their much lower cost of labour… Australian manufacturers are taking advantage of opportunities for growth by focusing on the premium areas of the market.”
He said the manufacturing industry will see an increased focus in adapting advanced manufacturing processes as it invests in automation, high-tech and productivity enhancing technology.
Research agency IBISWorld gathered revenue data for the report and found the Top 100 Manufacturers have a combined revenue of A$319 billion.
This year’s list of the ‘Top 100 Manufacturers’ shows Australia’s Petroleum manufacturers are seeing growth amidst facing global challenges in recent years. Petrol giants Caltex, BP Australia and Viva Energy Group “posted increases in revenue despite a highly volatile market.”