$6.3bn
$X.Xbn
14,277
4,258
$XXX.Xm
Dairy cattle farmers have faced a range of challenges over the past five years. They have contended with volatile weather conditions over much of the period, which have constrained production volumes and led to higher farmgate milk prices. These conditions included drought over the much of the country at the start of the period. Furthermore, southern Australia experienced drier-than-average conditions and north eastern Australia experienced floods, reducing output over the second half of 2021-22. Improved weather conditions helped boost output in 2020-21 but labour shortages due to COVID-19 border restrictions limited growth. Forecast La Nina weather conditions will likely help support improved pasture conditions in the current year, but increase the chance of excessive rainfall, which could negatively affect milk yields in the current year.Domestic farmgate milk prices have risen strongly over the past five years. This trend has increased input costs for downstream manufacturers. However, while world dairy commodity prices have been volatile, they have increased overall, encouraging greater demand from processors. A weak Australian dollar has also boosted the price competitiveness of downstream dairy products in export markets and made imported dairy products less price competitive. Revenue is expected to rise at an average annual rate of 1.6% over the five years through 2023-24, to $6.3 billion. However, a drop in the domestic price of milk, as dairy export commodity prices fall and supply inches up, is expected to result in fall in revenue of 7.6% in 2023-24.Operating conditions are likely to remain volatile for dairy farmers, but milk production is projected to fall overall. Farmgate milk prices are also forecast to fall from the historic high of 2022-23 over the next five years. However, falling output will likely keep prices above 2021-22 levels. Demand from domestic and overseas markets is projected to increase as household incomes recover from the effects of global inflation pressures and COVID-19 lockdowns in China. The falling cost of inputs, like stockfeed and fertiliser, will help support profit margins. Overall, dairy cattle farming revenue is forecast to rise at an average annual rate of 1.2% over the five years through 2028-29, to $6.6 billion.
Industry revenue has grown at a CAGR of 1.6 % over the past five years, to reach an estimated $6.3bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($short_0)
2024 |
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There are no companies that hold a large enough market share in the Dairy Cattle Farming in Australia industry for IBISWorld to include in this product.
Industry revenue is measured across several distinct product and services lines, including Milk for manufacturing , Drinking milk and Cattle. Milk for manufacturing is the largest segment of the Dairy Cattle Farming in Australia.
As the milk supply dries up, the availability of milk for manufacturing is declining
Operators in the Dairy Cattle Farming industry raise and milk dairy cattle. The industry is made up of numerous small dairy farms that produce raw milk. These farms are mostly family owned and operated.
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ANZSIC 0160 - Dairy Cattle Farming in Australia
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Volatile weather conditions have seen milk production crash over the past five years. Yet, the consequent rise in farmgate milk prices has seen revenue rise.
Learn about an industry's products and services, markets and trends in international trade.
Milk sold to be processed as drinking milk has risen as a share of revenue over the past five years. While per capita consumption is declining in Australia, demand is growing...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Victoria is the largest dairy farming state in Australia. The temperate climate produces lush pastures ideal for raising dairy cattle.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Market share concentration is low. However, as the number of dairy farms is declining the average size of dairy farms are getting bigger.
Learn about the performance of the top companies in the industry.
There are no major players in the Dairy Cattle Farming industry. Most dairy cattle farms are small family-owned business that don’t have the capacity to command large shares ...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The new Dairy Industry Code of Conduct came into effect from January 2020. The code bans certain pricing practices and provides more flexibility on contracts, enhancing farme...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit margins have increased over the past five years. Drought weakened performance at the start of the period, but surging farmgate prices and lower feed costs due to highe...
Including values and annual change:
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Key data sources in Australia include:
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The market size of the Dairy Cattle Farming industry in Australia is $6.3bn in 2024.
There are 4,258 businesses in the Dairy Cattle Farming industry in Australia, which has declined at a CAGR of 4.0 % between 2018 and 2023.
The market size of the Dairy Cattle Farming industry in Australia has been growing at a CAGR of 1.6 % between 2018 and 2023.
Over the next five years, the Dairy Cattle Farming industry in Australia is expected to grow.
Milk for manufacturing and Drinking milk are part of the Dairy Cattle Farming industry.
The level of competition is moderate and increasing in the Dairy Cattle Farming industry in Australia.