$3.5bn
$XXX.Xm
1,765
175
$XXX.Xm
Favourable domestic and international conditions have seen Australian cooking oil and margarine manufacturers thrive in recent years. High domestic supply and elevated international prices have boosted exports and revenue. Domestic manufacturers have benefited from increased upstream supply, while downstream demand from markets like supermarkets and cafes has risen. Nonetheless, some industry segments have suffered from high import competition as large fast-food chains have increasingly imported refined cooking oils. However, rising health concerns have benefited some segments at the expense of others, leading some customers to shift to unrefined or niche cooking oils. Overall, revenue has grown at an annualised 3.5% over the five years through 2023-24 and is expected to total $3.5 billion, despite a forecast revenue decline of 3.1% in 2023-24.Growing consumer concern regarding health and nutrition has weakened demand for some traditional industry products that consumers perceive as unhealthy, like refined vegetable oil. This is shifting focus towards more health-conscious items such as unrefined oils and avocado oil. Demand for premium products is set to increase as health consciousness rises. Premium products, typically perceived as healthier, are more profitable to manufacturers. That's why increased demand for premium products is set to propel profit margins over the coming years.Healthy downstream demand from supermarkets is set to fuel moderate growth over the next few years. Strong domestic demand will offset falls in price growth and ease demand from exports. Nonetheless, overall output is set to rise following upgrades to facilities at key manufacturers like Cargill and GrainCorp, allowing them to process greater amounts of crop and drive down per unit costs. Automation is expected to continue rising, decreasing wages as a share of revenue. Overall, revenue is expected to climb at an annualised 1.2% over the five years to 2028-29, to an estimated $3.7 billion.
Industry revenue has grown at a CAGR of 3.5 % over the past five years, to reach an estimated $3.5bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 |
---|---|---|
GrainCorp | 1,368.5 | |
Cargill | 363.4 | |
Riverina Oils | 174.2 |
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Industry revenue is measured across several distinct product and services lines, including Refined cooking oil, Margarine and other products and Unrefined cooking oil . Refined cooking oil is the largest segment of the Cooking Oil and Margarine Manufacturing in Australia.
As consumers become more health conscious, refined cooking oil is becoming less popular
Industry companies manufacture a range of refined and unrefined cooking oils, such as olive, avocado, coconut and canola oils. Companies also produce margarine, lard and several other products using vegetable and animal oils and fats.
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ANZSIC 1150 - Cooking Oil and Margarine Manufacturing 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.
High prices and low international supply are giving domestic exporters a competitive advantage. Favourable growing conditions and increased supply in Australia are giving dom...
Learn about an industry's products and services, markets and trends in international trade.
Increased health consciousness is resulting in greater demand from supermarkets and cafes. Demand is falling for products that are perceived as unhealthy, like refined cookin...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The proximity of supply is a key factor influencing the location of manufacturers. Oilseed growers are limited to specific areas around Australia based on climate, which affe...
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.
Lofty start-up costs and elevated capital intensity means barriers to entry remain moderate. Potential entrants face significant start-up costs to purchase the required machi...
Learn about the performance of the top companies in the industry.
GrainCorp took advantage of high export prices, bolstering its market share. Increased export activity and rising efficiency have helped GrainCorp increase its share of reven...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The rising price of domestic fats and oils is lifting profit margins. Higher domestic prices will allow manufacturers to attract more revenue with each sale, while also lifti...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit margins are rising as domestic and international demand continues to climb. Increasing exports and rising demand have caused year-on-year profit increases.
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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The market size of the Cooking Oil and Margarine Manufacturing industry in Australia is $3.5bn in 2024.
There are 175 businesses in the Cooking Oil and Margarine Manufacturing industry in Australia, which has declined at a CAGR of 0.3 % between 2019 and 2024.
The market size of the Cooking Oil and Margarine Manufacturing industry in Australia has been growing at a CAGR of 3.5 % between 2019 and 2024.
Over the next five years, the Cooking Oil and Margarine Manufacturing industry in Australia is expected to grow.
The biggest companies operating in the Cooking Oil and Margarine Manufacturing market in Australia are GrainCorp, Cargill and Riverina Oils
Refined cooking oil and Unrefined cooking oil are part of the Cooking Oil and Margarine Manufacturing industry.
The company holding the most market share in Australia is GrainCorp.
The level of competition is high and steady in the Cooking Oil and Margarine Manufacturing industry in Australia.