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Industry Sector Analysis

   

Added on  2019-10-18

8 Pages1561 Words308 ViewsType: 308
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INDUSTRY SECTORANALYSIS
Industry Sector Analysis_1

1ContentsIntroduction......................................................................................................................................2The Market.......................................................................................................................................2Retail Development Trends.............................................................................................................4Challenges for Food Retail Industry in Australia............................................................................4Opportunities for Food Retail Industry in Australia........................................................................5Conclusion.......................................................................................................................................6References........................................................................................................................................7
Industry Sector Analysis_2

2IntroductionFood Retail Industry is the most significant food industry sector in the Australian economy, fromthe point of view of generating employment and it also contributes towards the finances of thecountry. Processing of Food and Beverage is Australia’s one of the leading manufacturingindustry. Market players are diverse and huge in size, which consists of multinationalsorganizations producing huge volumes of FMCG goods to small manufactures which have theflexibility for meeting the demand of miniscule gourmet products (Nzte.govt.nz. 2017).In Australia, food retail industry is dynamic and is driven by arduous consumers, who searchesfor diversity, value and quality. The cultural and ethnic diversity of the country can be seen inthe variety of food products that are available. Numerous specialty products in the country haveMiddle Eastern, Asian and European influences. Food having particular attributes involves halal,organic and kosher which are catered according to the country’s standards and systems. Thisindustry focuses on exports around 200 markets across the world. The economy of Australia is going to enter the 25th successive year of growth and also thesecond largest unbroken phase of progressive economy across the world. In this growth the foodand beverage industry is one of the major contributor, providing turnover of around $94 billion.Dynamic and demanding shopping behaviors and consumer’s sentiments and entry of several bigretailers and a movement of consumers towards the private labels are critically affecting thetrading situations (Buttriss, J.L., 2013). The MarketIncrease in the awareness in the consumers regarding the health, have resulted in the food andbeverage industry. Many of the players in this industry have responded with the introduction ofhealthy choices of food which are fat free and also are sugar and salt free. Health consciousness
Industry Sector Analysis_3

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