Organic agriculture and cotton growing have been singled out as industries with potential to make their mark in 2016, according to reports by international market research and business intelligence firm IBISWorld.
Other industries on the list of sectors set to boom include internet publishing and broadcasting, houseware retailing, and universities and other higher education providers. Although global market pressures and dry seasonal conditions are key hurdles not to be underestimated, IBISWorld has tipped cotton growing "will fly" with revenue worth about $879 million - well up from 2014-15.
The organic farming sector is forecast to see revenue grow by 5.6 per cent to reach $733.8m as demand domestically and overseas encourages new production and more retailers make space for organic lines. Rising consumer health consciousness about pesticides and environmental awareness, plus supermarket chains Woolworths and Coles now stock wider ranges of organic lines, were making organic product choices more mainstream. IBISWorld senior industry analyst Spencer Little said while cotton growing had been expected to be more favourable in 2015-16 than last season, cotton was subject to significant volatility, with revenue movements ranging between 136.1pc growth and a 62.7pc decline in the past five years. Cotton industry market analyst, Pete Johnson, agreed cotton production was set to soar, pushing the industry's traditional crop peak of about 4m bales to about 5m.
