Ice Cream Manufacturing in Australia - Market Research Report (2014-2029)
Melbourne, Australia
Last Updated: August 2024
ANZSIC C1132Revenue
$1.7bn
Past 5-Year Growth
Profit
$XX.Xm
Employees
2,599
Businesses
159
Wages
$XXX.Xm
Ice Cream Manufacturing in Australia industry analysis
Ice cream manufacturers have enjoyed a period of sustained growth, with revenue anticipated to grow at an annualised 2.8% over the five years through 2024-25, to $1.7 billion. Ice cream is a discretionary good, which means that the industry’s performance depends on trends in real household discretionary income. During the pandemic, government support measures propelled household income and spending, boosting demand for ice cream and supporting revenue growth. The industry has felt the impacts of a large decline in discretionary income post-pandemic, which fell over the three years through 2023-24 as government stimulus ended and inflation intensified. Although discretionary income is expected to improve slightly in 2024-25, cost-of-living pressures will continue to strain consumers’ budgets. Household spending cuts have led to reduced demand for ice cream products. With demand constrained, the industry’s revenue is expected to fall 4.2% in 2024-25.
Trends and Insights
- Elevated input prices have caused moderate volatility for ice cream manufacturer’s revenue streams. Manufacturers’ attempts to pass on rising costs to consumers have constrained demand, dampening revenue growth over the past five years.
- Supermarkets and grocery stores are where most consumers purchase their ice cream. Supermarkets’ prices are generally the lowest in the market due to their economies of scale and access to a large consumer base.
- Manufacturers prefer Victoria’s access to inputs. As the majority of dairy farms are in Victoria, locating manufacturing facilities nearby can minimise costs to transport goods from farms to factories.
- The four largest manufacturers are competing on a different scale to smaller producers. Large manufacturers compete for limited shelf space in supermarkets and grocery stores, whereas local ice creameries often monopolise local markets.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 2.8 % over the past five years, to reach an estimated $1.7bn in 2024.
Trends and Insights
Household discretionary income falls have partly offset a long period of revenue growth
- As a non-essential good, ice cream is a largely discretionary purchase, with demand heavily dependent on real household discretionary income. During the pandemic, high levels of government stimulus and restrictions on various forms of spending led to a surge in real household discretionary income.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
An improvement in downstream demand conditions is on track to expand industry revenue
- Revenue is set to expand over the coming years. A growing consumer preference for premium ice cream products that fetch a higher retail price will help drive revenue growth.
Biggest companies in the Ice Cream Manufacturing in Australia
| Company | Market Share (%)
2025 | Revenue ($m)
2025 |
|---|---|---|
Peters Food Group | 571.9 | |
Bulla Dairy Foods | 387.1 | |
Unilever Australia | 257.8 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Take-home tubs, Take-home multi-packs and Premium take-home tubs. Take-home tubs is the largest segment of the Ice Cream Manufacturing in Australia.
Trends and Insights
A surge in discretionary income during the pandemic boosted sales of premium take-home tubs
- Premium ice creams are typically marketed towards consumers with the highest disposable incomes. During the pandemic, this segment exploded, as consumers eligible for government stimulus packages were able to indulge in luxury desserts.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Milk and Cream Processing in Australia
- Butter and Dairy Product Manufacturing in Australia
- Dairy Produce Wholesaling in Australia
- Cheese Manufacturing in Australia
International industries
- Ice Cream Production in the US
- Ice Cream Production in Canada
- Ice Cream Manufacturing in New Zealand
- Ice Cream Production in the UK
Table of Contents
About this industry
Industry definition
Manufacturers in the industry produce ice cream, sorbet, gelato and frozen confectionery. Ice creams manufactured from non-dairy substances like soy are excluded from the industry.
What's included in this industry?
Take-home tubsTake-home multi-packsPremium take-home tubsIndividually packaged productsUnpackaged scoop-and-serve productsCompanies
Peters Food GroupBulla Dairy FoodsUnilever AustraliaPurchase this report to view all 4 major companies in this industry.
Related Terms
GELATOSORBETMILK FATPREMIUMISATIONIndustry Code
ANZSIC 1132 - Ice Cream Manufacturing in Australia
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Elevated input prices have caused moderate volatility for ice cream manufacturer’s revenue streams. Manufacturers’ attempts to pass on rising costs to consumers have constrai...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Supermarkets and grocery stores are where most consumers purchase their ice cream. Supermarkets’ prices are generally the lowest in the market due to their economies of scale...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Manufacturers prefer Victoria’s access to inputs. As the majority of dairy farms are in Victoria, locating manufacturing facilities nearby can minimise costs to transport goo...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
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.
Analyst insights
The four largest manufacturers are competing on a different scale to smaller producers. Large manufacturers compete for limited shelf space in supermarkets and grocery stores...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Ice cream manufacturers are looking to innovative solutions in time for a summer heatwave. Ice cream manufacturers are extending their product range to entice consumers.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Peters Food Group's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Bulla Dairy Foods's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Unilever Australia's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for Peters Food Group, and factors influencing its performance in the industry
- Description and key data for Bulla Dairy Foods, and factors influencing its performance in the industry
- Description and key data for Unilever Australia, and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Real household discretionary income and demand from supermarkets heavily affect the industry’s performance. Forecast growth in discretionary income and demand from supermarke...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Purchase costs are high as domestic sugar prices remain inflated. High purchase costs and increased competition are expected to erode the industry’s profitability.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
- Australian Bureau of Statistics
- Australian Taxation Office
- Australian Securities & Investments Commission
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:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
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.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Ice Cream Manufacturing industry in Australia in 2024?
The market size of the Ice Cream Manufacturing industry in Australia is $1.7bn in 2024.
How many businesses are there in the Ice Cream Manufacturing in Australia industry in 2024?
There are 159 businesses in the Ice Cream Manufacturing industry in Australia, which has declined at a CAGR of 3.9 % between 2019 and 2024.
Has the Ice Cream Manufacturing industry in Australia grown or declined over the past 5 years?
The market size of the Ice Cream Manufacturing industry in Australia has been growing at a CAGR of 2.8 % between 2019 and 2024.
What is the forecast growth of the Ice Cream Manufacturing industry in Australia over the next 5 years?
Over the next five years, the Ice Cream Manufacturing industry in Australia is expected to grow.
What are the biggest companies in the Ice Cream Manufacturing market in Australia?
The biggest companies operating in the Ice Cream Manufacturing market in Australia are Peters Food Group, Bulla Dairy Foods and Unilever Australia
What does the Ice Cream Manufacturing in Australia include?
Take-home tubs and Take-home multi-packs are part of the Ice Cream Manufacturing industry.
Which companies have the highest market share in the Ice Cream Manufacturing in Australia?
The company holding the most market share in Australia is Peters Food Group.
How competitive is the Ice Cream Manufacturing industry in Australia?
The level of competition is high and increasing in the Ice Cream Manufacturing industry in Australia.
