Fastest Growing Industries in Australia by Revenue Growth (%) in 2020

1. Buy Now Pay Later in Australia

2019-2020 Revenue Growth: 65.8%

The Buy Now Pay Later (BNPL) industry is a new industry in Australia, established in 2011-12. While the industry is still in its infancy stage, the concept of BNPL is not new, with some industry operators offering similar instalment payment plans prior to 2012. BNPL providers deliver digital, mobile-optimised and quick approved payment plans, which appeal to consumers, especially the younger generation. More consumers are shifting from traditional credit and opting for BNPL services, which allow consumers to get an instant loan at point of sale.

The industry has grown at a meteoric pace over the past five years, albeit from... Learn More

2. Online Grocery Sales in Australia

2019-2020 Revenue Growth: 58.1%

The Online Grocery Sales industry is yet to achieve the scale of the overall online retail sector, but it has made strong inroads over the past five years. Industry revenue is expected to rise at an annualised 29.7% over the five years through 2019-20, to total $5.8 billion. Despite some consumers' initial reluctance to shop for groceries online, demand has grown strongly over the past five years. While ordering groceries online is generally straightforward, receiving these products is often not as simple. Due to the perishable nature of some of the industry's products, refrigeration and timely delivery are important. However,... Learn More

3. Cryptocurrency Exchanges in Australia

2019-2020 Revenue Growth: 52.9%

The Cryptocurrency Exchanges industry is a new industry in Australia, established in 2012-13 to cater to rising interest in cryptocurrencies as a form of payment. The industry has since grown at a meteoric pace, albeit from a low base. Bitcoin, the largest and most well-established cryptocurrency, was created in 2009. Industry services are therefore still in the formulation phase. Industry exchanges typically earn revenue through fees paid on deposits, withdrawals and trades conducted on local exchanges. Industry operators initially generated little revenue, as cryptocurrency was still in its infancy and had a low uptake. Many local exchanges recorded operating losses... Learn More

4. Online Pet Food and Pet Supply Sales in Australia

2019-2020 Revenue Growth: 35.2%

The Online Pet Food and Pet Supply Sales industry is gradually changing as it gains traction in the wider Australian pet-care sector. While the industry includes many small niche players selling specialist pet products, larger pure-play online pet-care companies are emerging. At the same time, national pet-care chains are launching complementary ecommerce platforms and transitioning into clicks-and-mortar operations. Pet food sales are an important part of the industry. More Australian consumers are purchasing everyday goods online, and the industry is catering to this demand. Increasingly sophisticated technology and infrastructure, and convenience have drawn customers towards online purchases over the past... Learn More

5. Gold and Other Non-Ferrous Metal Processing in Australia

2019-2020 Revenue Growth: 24.8%

The Gold and Other Non-Ferrous Metal Processing industry mainly processes semi-refined gold. Semi-refined gold and gold dore bars are supplied from gold ore mining firms to the industry to be further processed into refined gold. Refined gold volumes are projected to total 353.3 tonnes in 2020-21, up from 326.1 tonnes in 2015-16, due to higher mining volumes and greater demand for industry services. Although the industry refines a substantial volume of gold, some firms do so for a fee. These firms do not own either the gold bullion feedstock or the refined gold produced. The refining fee earned by these... Learn More

6. Rice Growing in Australia

2019-2020 Revenue Growth: 24.8%

The amount of water operators in the Rice Growing industry can access influences production, as rice is a water-intensive crop. Therefore, the level of annual rainfall and water availability are key determinants of industry performance. Rice growers' reliance on rainfall is reflected in the industry's performance over the two years through 2019-20. Industry output and revenue were negligible over this period, as severe drought in the Murray-Darling Basin (the Basin), which hosts most industry establishments, forced some farmers to exit the industry. This decline follows a sharp revenue increase in 2016-17, when above-average rainfall allowed farmers to produce a bountiful... Learn More

7. Online Home Furnishing Sales in Australia

2019-2020 Revenue Growth: 24.2%

Operators in the Online Home Furnishing Sales industry retail a range of home textile and furnishing products online. Products include manchester, curtains, blinds, rugs, mats and decorative accessories. The industry has grown strongly over the past five years due to greater acceptance of online shopping among Australian consumers, and the entry of traditional bricks-and-mortar retailers into the industry. Overall, industry revenue is expected to increase at an annualised 14.0% over the five years through 2020-21, to $626.0 million. This trend includes growth of 10.6% in the current year.

The outbreak of COVID-19 has heightened demand for online shopping products. Lockdown restrictions... Learn More

8. Car Sharing Providers in Australia

2019-2020 Revenue Growth: 23.0%

The Car Sharing Providers industry has grown at a rapid pace over the past five years, due to rising demand for cost-efficient and convenient inner-city transport. Urbanisation trends have increased traffic congestion, which has increased competition for parking spots. Rising costs of living have also made it more difficult for consumers to purchase cars outright, reducing the appeal of car ownership. The industry has benefited from advances in mobile technology over the period, improving consumer accessibility to industry services. As a result, industry revenue is expected to grow at an annualised 21.0% over the five years through 2019-20, to reach... Learn More

9. Student Housing Management in Australia

2019-2020 Revenue Growth: 20.8%

The Student Housing Management industry has expanded rapidly over the past five years, as increased numbers of international student enrolments in Australian tertiary institutions have boosted demand. Education is now a major source of export earnings and Australia ranks second to the United States as a destination for international students. The influx of international students has supported demand for accommodation, and property developers have responded by funding new purpose-built student accommodation (PBSA). Student housing managers assist investors with tenant administration, leasing and rent collection. A large component of the industry is providing global marketing to attract international students. While industry... Learn More

10. Solar Electricity Generation in Australia

2019-2020 Revenue Growth: 19.8%

The Solar Electricity Generation industry has undergone a period of immense revenue growth over the past five years. Industry revenue is expected to grow at an annualised 102.8% over the five years through 2019-20, to total $298.3 million. This growth has been driven by the development of a multitude of large-scale solar farms, which have increased industry generation capacity from less than 50 MW in 2014 to over 3600 MW in 2019. Industry generation capacity is expected to continue growing in the current year, as an increasing number of solar projects come online. Industry revenue is expected to increase by... Learn More