Australia’s grape industry has been named as one of the top 20 industries by growth in exports over the past five years to 2015/16 by IBISWorld.
The market research group compiled a list of Australia’s fastest-growing exports, with five of the notable industries being grape growing (including wine, dried and fresh table grapes), rice growing, seafood processing, cider production, and vitamin and supplement manufacturing.
Australia’s grape industry has continued to grow, from representing 8.4 per cent of exports in 2010/11 to an expected 26.8 per cent by 2020/21, according to IBISWorld.
IBISWorld senior industry analyst Jem Anning said the majority of the grape industry’s exports were dried and table grapes.
“The majority of fresh grapes grown in Australia are exported, mainly to markets in Asia,” Anning said. “Local grape producers have experienced a notable upturn in exports due to trade agreements signed in 2014 and 2015. The free trade agreement with South Korea lifted tariffs on imported Australian fresh grapes and the Japanese and Chinese agreements will gradually remove tariffs over the next seven and four years, respectively.”