$3.4bn
$XXX.Xm
16,537
8,765
$XXX.Xm
Variations in turn-off rates and wool production volumes have seen industry revenue fluctuate over the past five years, and fall overall. Farmers have continued to focus on export markets to expand revenue. Demand for wool in the key market of China has recovered from COVID-19 pandemic lows. However, uncertain economic conditions have weighed on prices. Industry revenue is expected to have dropped at an annualised 2.6% over the five years through 2024-25, to $3.4 billion. This includes an anticipated revenue surge of 11.2% in 2024-25, driven by record turn-off numbers and rising sheep and wool prices.
Industry revenue has declined at a CAGR of 2.6 % over the past five years, to reach an estimated $3.4bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2025 | Revenue ($short_0)
2025 |
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There are no companies that hold a large enough market share in the Sheep Farming in Australia industry for IBISWorld to include in this product.
Industry revenue is measured across several distinct product and services lines, including Wool, Lambs for slaughter and Sheep for slaughter and live export. Wool is the largest segment of the Sheep Farming in Australia.
Improved weather conditions are bolstering the volume of lambs for slaughter
The industry consists of farms that primarily undertake sheep farming. Sheep are farmed for their meat and wool.
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ANZSIC 0141 - Sheep 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.
Turn-off rates have accelerated since 2022-23, following successful flock-rebuilding efforts. However, increased supply has weighed on prices, driving revenue to fall. Wool p...
Learn about an industry's products and services, markets and trends in international trade.
The lambs for slaughter segment’s revenue share has increased over the past five years. The number of lambs sold to meat processors has reached record levels over the past th...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The high rainfall sheep farming zone is crucial for prime lamb production. This zone encompasses the coastal areas from Queensland to South Australia, as well as all of Tasma...
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.
Sheep farmers face internal competition over the quality of their wool and meat. Wool is evaluated on a number of features, like micron and strength, and meat is graded on it...
Learn about the performance of the top companies in the industry.
There are no major players in the Sheep Farming industry. Most sheep farmers earn under $200,000 in annual revenue, and less than 5.0% generate over $2.0 million in revenue e...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Free trade agreements have provided new opportunities for sheep farmers. Agreements in 2015 and 2022 eliminated tariffs on wool in China and India, respectively. In May 2023,...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit margins have fluctuated but increased overall over the past five years. Input costs are expected to fall in 2024-25, and prices for sheep and wool are set to climb, li...
Including values and annual change:
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Key data sources in Australia include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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The market size of the Sheep Farming industry in Australia is $3.4bn in 2024.
There are 8,765 businesses in the Sheep Farming industry in Australia, which has declined at a CAGR of 1.9 % between 2019 and 2024.
The market size of the Sheep Farming industry in Australia has been declining at a CAGR of 2.6 % between 2019 and 2024.
Over the next five years, the Sheep Farming industry in Australia is expected to grow.
Lambs for slaughter and Sheep for slaughter and live export are part of the Sheep Farming industry.
The level of competition is moderate and increasing in the Sheep Farming industry in Australia.