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Cheese Manufacturing in Australia Industry Data and Analysis
The Cheese Manufacturing industry has encountered various challenges over the past few years. Australians have been consuming less cheese per capita and high domestic prices have limited demand. Moreover, elevated farmgate milk prices, driven by falling production, have put significant pressure on profit margins, particularly for smaller manufacturers without economies of scale. Imports have increased in response to supply shortages and high prices, with New Zealand remaining a key supplier, alongside growing import volumes from Europe and the United States. The industry remains highly concentrated, with Bega Group, Saputo Dairy Australia and Fonterra Co-op holding more than two-thirds of market share in 2025-26. This high concentration has made it difficult for smaller manufacturers to thrive, especially in the face of rising purchase costs. Despite these challenges, export growth, particularly to Japan, China and other Asian markets, has helped partially offset this downturn, as overseas buyers remain willing to pay premium prices for Australian cheese. Overall, revenue is expected to drop at an annualised 1.6% over the five years through 2025-26, reaching approximately $3.5 billion. This includes an anticipated decline of 2.2% from 2024-25.
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What's included in this industry analysis
IBISWorld's research coverage on the Cheese Manufacturing industry in Australia includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released December 2025.
About this industry
What's this industry report about?
The Cheese Manufacturing industry in Australia operates under the ANZSIC industry code C1133a. Industry operators manufacture cheese, including cheddar, semi-hard cheeses, hard grating cheeses, fresh cheeses and mould-ripened cheeses. This industry does not cover goat’s cheese or other cheeses made from non-cow milk. Related terms covered in the Cheese Manufacturing industry in Australia include everyday cheese, specialty cheese, private-label products and rennet.
What's included in this industry?
Products and services covered in Cheese Manufacturing industry in Australia include Semi-hard and stretch cheese, Fresh cheese and Hard-grating and mould-ripened cheese.
What companies are included in this industry?
Companies covered in the Cheese Manufacturing industry in Australia include Saputo Dairy Australia, Bega Group and Fonterra Co-op Group.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Cheese Manufacturing industry in Australia.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Cheese Manufacturing industry in Australia.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Cheese Manufacturing industry in Australia.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Cheese Manufacturing industry in Australia. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Cheese Manufacturing industry in Australia. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Cheese Manufacturing industry in Australia. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Cheese Manufacturing industry in Australia. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Cheese Manufacturing industry in Australia.
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Frequently Asked Questions
What is the market size of the Cheese Manufacturing industry in Australia in 2026?
The market size of the Cheese Manufacturing industry in Australia is $3.5bn in 2026.
How many businesses are there in the Cheese Manufacturing industry in Australia in 2025?
There are 123 businesses in the Cheese Manufacturing industry in Australia, which has declined at a CAGR of 0.5 % between 2020 and 2025.
How may import tariffs affect the Cheese Manufacturing industry in Australia?
The Cheese Manufacturing industry in Australia is likely to be impacted by import tariffs with imports accounting for a moderate share of industry revenue.
How may export tariffs affect the Cheese Manufacturing industry in Australia?
The Cheese Manufacturing industry in Australia is likely to be significantly impacted by export tariffs with exports accounting for a high share of industry revenue.
Has the Cheese Manufacturing industry in Australia grown or declined over the past 5 years?
The market size of the Cheese Manufacturing industry in Australia has been declining at a CAGR of 1.6 % between 2020 and 2025.
What is the forecast growth of the Cheese Manufacturing industry in Australia over the next 5 years?
Over the next five years, the Cheese Manufacturing industry in Australia is expected to grow.
What are the biggest companies in the Cheese Manufacturing industry in Australia?
The biggest companies operating in the Cheese Manufacturing industry in Australia are Saputo Dairy Australia, Bega Group and Fonterra Co-op Group
What does the Cheese Manufacturing industry in Australia include?
Fresh cheese and Hard-grating cheese are part of the Cheese Manufacturing industry in Australia.
Which companies have the highest market share in the Cheese Manufacturing industry in Australia?
The company holding the most market share in the Cheese Manufacturing industry in Australia is Saputo Dairy Australia.
How competitive is the Cheese Manufacturing industry in Australia?
The level of competition is high and increasing in the Cheese Manufacturing industry in Australia.
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