State of the Industry 2023-24

14 August 2025

The AFGC today released its State of the Industry report for 2023–24, providing the latest data on the performance of Australia’s food and grocery manufacturing sector. 

The figures show a sector that continues to grow – as turnover rose 5.3% to reach $173 billion, and employment grew 4.4% to almost 300,000 workers – but signs of pressure remain. Cost pressures are outpacing revenues, and investment is lagging at a time when capital is critical to boosting productivity and ensuring food security. 

Despite these challenges, food and grocery manufacturing remains Australia’s largest manufacturing employer and is growing its share of the broader sector – a clear sign of its strategic value to the economy. 

• Visit the State of Industry page to download the new infographic and view the data dashboard
• Read the media release

Contact

For further information and analysis on the State of the Industry, please contact  Samuel Garcia, Manager – Industry Affairs | Supply Chain & Economics.

Scott McGrath
Director – Government and Media Relations