With Australian food and beverage products in high demand across the globe, Aussie suppliers are ripe to make the most of this growing opportunity and increase their share in the global marketplace.
With traditional ways of connecting with international buyers turned upside down due to pandemic-induced travel restrictions and ongoing global disruptions, food and beverage businesses have been forced to adapt. These disruptions reinforced the fragility of global supply chains and the increasing gap between suppliers and buyers.
These challenges highlight the need for a mindset shift within the industry and present a substantial opportunity for Australian food and beverage businesses to make connections with international buyers in new and innovative ways.
Australia’s potential
Australia has an international reputation for producing premium, safe, and high-quality products. Its close proximity to Asian markets and reputation as a trusted exporter of premium goods led to the food and beverage sector becoming the largest manufacturing sector for the Australian economy.
By reevaluating how international buyers are engaged, Australian food and beverage businesses could unlock more than $200 billion value-added by 2030, which would almost triple the current size of Australia’s food and agribusiness sector – as outlined in FIAL’s Capturing the Prize.
Unlocking the key to connection
In light of the economic, supply chain, and geopolitical challenges experienced over the last two years, it’s more important than ever for businesses to secure strong and reliable buyer-supplier relationships.
The Fifth Industrial Revolution is poised to underpin a future where buyer-supplier relationships are built on problem-solving and value creation through technology. Technology holds the key to simplifying the buyer-supplier process, by reaching buyers interested in sourcing Australian products in a whole new way.
This is one of the driving forces behind FIAL’s development of the Australian Food & Beverage Catalogue (AFBC) — a free, online directory connecting hundreds of market-ready Australian food and beverage businesses, with qualified domestic and international buyers from over 42 countries around the world.
The platform puts local suppliers’ products directly in front of global buyers, enabling them to reach new offshore markets. It acts as a one-stop-shop for buyers, enabling them to see Australian products at a glance, alongside concise supplier profiles. In addition, the platform features product videos, an instant chat function, and the ability for buyers to submit sourcing requests to find and procure specific products.
From a supplier perspective, it enables Australian food and beverage businesses to overcome the hurdle of travel disruptions, while maintaining and growing exporter connectivity to international markets, ultimately enabling a targeted approach to global growth.
Garlicious Grown‘s story
One small business that has been able to tap into entirely new customers around the globe is NSW-based Garlicious Grown. Processing over 3.5 tonnes of garlic annually, Garlicious Grown supplies to foodservice partners and wholesalers across Australia, including meal delivery service HelloFresh. Although the company has several awards under its belt, co-founder Cathy Owen says they still struggle with consumer awareness around what black garlic is, its benefits, and its uses, which inhibits their successful penetration into new markets.
COVID-19 saw home cooking increase and more people experimenting with novel food products such as Garlicious Grown’s black garlic. In light of this trend, the company looked to grow its online presence and customer reach, in hope of connecting to new buyers and markets. Leveraging the AFBC, Garlicious Grown was able to do just that, showcasing its products to a range of buyers from around the world.
Through the production and distribution of high-quality food and drink, Australian businesses’ share in the global marketplace will continue to grow as they reach new markets. However, it’s crucial that small businesses are supported by innovative technology such as the AFBC in order for them to truly meet their potential.
