Milk production in Australia has benefited from joint ventures and expansion of air-freighted fresh milk exports to growing Asian markets, particularly China, according to IBISWorld.
A prime example of this is a2 Milk, which entered the list for the first time in 100th position. "a2 Milk posted revenue growth of 40.2% over the year through June 2015, on the back of fresh milk exports to China and substantial sales growth in a2 Platinum Infant Formula across Australia and New Zealand," says IBISWorld senior industry analyst Spencer Little. Sales of the infant formula rose more than four-fold over 2014-2015.
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