Fastest Growing Industries in Australia by Revenue Growth (%) in 2021

1. Rice Growing in Australia

2021-2022 Revenue Growth: 403.5%

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 many farmers to grow other crops. This decline followed a sharp revenue increase in 2016-17, when above-average rainfall allowed farmers to produce a bountiful... Learn More

2. Cotton Growing in Australia

2021-2022 Revenue Growth: 240.9%

Operators in the Cotton Growing industry have endured extreme revenue volatility and fluctuating profit margins over the past five years, with a range of external factors influencing industry performance. Sufficient rainfall and an increase in the price per bale paid to Australian farmers resulted in the industry growing strongly over the two years through 2017-18. Rising global demand for cotton drove this price growth. However, significantly below-average rainfall reduced irrigation water availability over the two years through 2019-20, with some cotton growing regions reporting their lowest annual rainfall on record. Drought conditions, which were reported over most major cotton growing... Learn More

3. Telehealth in Australia

2021-2022 Revenue Growth: 169.7%

Telehealth has massively expanded in Australia in the wake of the COVID-19 pandemic, growing from niche services to a multi-billion-dollar industry. This has been largely due to the significant expansion of the Medicare Benefits Schedule (MBS) to support telehealth services during the COVID-19 pandemic. In addition, patients have been more likely to use telehealth services as a means to avoid contact and minimise the possibility of contracting COVID-19.

Prior to the outbreak of COVID-19, telehealth items on the MBS were severely restricted and were generally used only in limited circumstances. However, the Federal Government temporarily expanded the MBS to include telehealth... Learn More

4. Pulse Growing in Australia

2021-2022 Revenue Growth: 68.1%

Production in the Pulse Growing industry is highly volatile, and is influenced by several factors. Annual rainfall is a key driver of pulse production, with years of high rainfall often having strong yields, which boosts industry revenue. Conversely, low annual rainfall can reduce industry revenue significantly. Fluctuating rainfall levels have prompted very high industry revenue volatility over the past five years.

As most local pulse production is exported, any upturn or downturn in export demand also influences industry revenue. For example, demand for domestically produced pulses is particularly strong in the Indian subcontinent. Monsoon seasons that reduced local production in India,... Learn More

5. Cereal Grain Wholesaling in Australia

2021-2022 Revenue Growth: 54.4%

Grain is one of Australia's most valuable agriculture products. Operators in the Cereal Grain Wholesaling industry play a major role in distributing grain from farmers to end markets, both domestically and internationally. Industry revenue is expected to increase at an annualised 6.5% over the five years through 2020-21, to $26.8 billion. This trend includes an anticipated rise of 52.7% in the current year as favourable growing conditions contribute to a surge in grain production volumes. Industry profitability has fluctuated over the past five years in response to volatile production volumes, with profit margins increasing overall due to the strong anticipated... Learn More

6. Online Grocery Sales in Australia

2021-2022 Revenue Growth: 47.8%

The Online Grocery Sales industry is yet to achieve the adoption rates of the overall online retail sector, but has grown strongly over the past five years. Industry revenue is expected to rise at an annualised 27.7% over the five years through 2020-21, to total $7.1 billion. Despite some consumers' initial reluctance to shop for groceries online, demand has grown strongly over the past five years. The introduction of click and collect services has significantly boosted industry demand. Consumers have demonstrated a notable preference for these services, with in-store pickups allowing them to inspect purchases and buy supplementary items if... Learn More

7. Grain Growing in Australia

2021-2022 Revenue Growth: 46.0%

The Grain Growing industry is export oriented and produces wheat, barley, canola, and other grains and oilseeds. Industry revenue has fluctuated significantly over the past five years, largely due to volatile weather conditions affecting local supply in certain years. Fluctuations in global grain prices and crop supplies over the period have further contributed to revenue volatility. Industry revenue is expected to grow at an annualised 2.6% over the five years through 2020-21, to $14.1 billion. Industry profit margins have grown due to higher output volumes. Industry revenue is anticipated to rise 44.4% in the current year, as the industry benefits... Learn More

8. Online Home Furnishing Sales in Australia

2021-2022 Revenue Growth: 39.1%

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 23.4% over the five years through 2020-21, to $1.2 billion. This trend includes growth of 37.5% in the current year.

The COVID-19 pandemic has led to a surge in demand for online shopping... Learn More

9. Online Men's Clothing Sales in Australia

2021-2022 Revenue Growth: 33.6%

The Online Men's Clothing Sales industry has expanded over the past five years due to the growing acceptance of online shopping and changing attitudes towards men's fashion. While traditional retail industries have struggled with volatile consumer sentiment, online stores have benefited from consumers seeking choice and value. In particular, weak household disposable income growth has prompted many consumers to scale back expenditure and look for cheaper alternatives online. Industry revenue is expected to increase at an annualised 18.6% over the five years through 2020-21, to $1.1 billion.

Industry revenue is expected to increase by 32.1% in the current year. The outbreak... Learn More

10. Online Baby Product Sales in Australia

2021-2022 Revenue Growth: 29.0%

The Online Baby Product Sales industry has defied Australia's turbulent retail landscape over the past five years, expanding rapidly over the period. The industry owes its success to technological advances and increasing internet connectivity, which have fuelled demand for, and acceptance of, online shopping in Australia. Strong marketing campaigns, competitive pricing and the development of multichannel retailing options have also enhanced the industry's appeal. Major retailers have rapidly increased their market shares over the past five years, principally through their significant brand recognition and wide product ranges.

Competitive pricing and convenient shopping platforms have caused industry sales volumes to soar, despite... Learn More