Meat Processing in Australia - Market Research Report (2014-2029)
Melbourne, Australia
Last Updated: June 2024
ANZSIC C1111Revenue
$31.8bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
36,971
Businesses
668
Wages
$X.Xbn
Meat Processing in Australia industry analysis
Demand for the Meat Processing industry has been volatile over recent years. Despite exports collapsing in value in 2020-21 because of Chinese trade restrictions, demand from export markets has generally shown healthy growth. Australian meat exporters have successfully identified new markets for their products, particularly in South Korea, Denmark and Ireland. Domestically, fluctuating production volumes and labour shortages have, at times, limited meat processing activities. Higher turn-off rates have contributed to growth for meat processors, yet high rainfall over the past three years has lowered turn-off rates as farmers focus on herd rebuilding. Meat processing revenue is expected to rise an annualised 3.7% over the five years through 2024-25, to $31.8 billion. This includes an anticipated 3.3% rise in the current year.
Trends and Insights
- Exports have grown in value over recent years despite some adversity. Reputational advantages have enabled Australian exporters to find alternative export markets following decreased demand from China.
- Wholesale bypass is causing a significant shift across meat processing markets. More supermarkets and restaurants are now purchasing directly from meat processors.
- The eastern seaboard dominates meat processing locations. Its weather conditions are favourable for sheep and downstream markets are close at hand.
- Substitute products, including poultry and plant-based alternatives, pose a threat to meat processors. Healthier and more environmentally friendly substitutes represent especially fierce competition in the long term.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 3.7 % over the past five years, to reach an estimated $31.8bn in 2024.
Trends and Insights
Exports have grown in value thanks to high beef prices
- Beef has remained a strong export commodity for Australia. While competition from other prominent markets has crept up, demand for high-quality Australian beef has remained strong, particularly from Japan and other Asian nations.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Exports are set to modestly expand
- Due to Australia’s mature meat market, meat processors will continue relying on a high percentage of stock going towards export markets in order to boost sales and grow revenue. This means revenue will remain tied to different meats’ international prices.
Biggest companies in the Meat Processing in Australia
| Company | Market Share (%)
2025 | Revenue ($m)
2025 |
|---|---|---|
JBS Australia | 7,827.9 | |
Thomas Foods International | 3,158.4 | |
Teys Australia | 2,211.9 |
To view the market share and analysis for all 5 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 Beef and veal, Lamb and mutton and Pig meat . Beef and veal is the largest segment of the Meat Processing in Australia.
Trends and Insights
Increased sales value has boosted beef and veal revenue
- Demand for beef and veal has been strong in recent years, supported by robust exports to Asia. International demand for Australian processed meat has supported a spike in the domestic price of beef.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Poultry Processing in Australia
- Cured Meat and Smallgoods Manufacturing in Australia
Complementors
- Butter and Dairy Product Manufacturing in Australia
- Cooking Oil and Margarine Manufacturing in Australia
International industries
- Meat, Beef & Poultry Processing in the US
- Hot Dog & Sausage Production in the US
- Rendering & Meat Byproduct Processing in the US
- Meat, Beef & Poultry Processing in Canada
- Meat Processing in New Zealand
Table of Contents
About this industry
Industry definition
Industry operators primarily process live animals into meat products. Processors slaughter, bone, freeze, preserve, pack and can meat. Businesses that primarily manufacture meat from abattoir by-products, and render lard or tallow are also included in the industry. The industry excludes poultry and seafood processors, and smallgoods manufacturers (such as bacon, ham and corned meat producers).
What's included in this industry?
Beef and veal meatLamb and sheep meatPig meatGoat meatKangaroo meatCompanies
JBS AustraliaThomas Foods InternationalTeys AustraliaPurchase this report to view all 5 major companies in this industry.
Related Terms
TURN-OFFFEEDLOTMEAT STANDARDS AUSTRALIA (MSA)AUS-MEATIndustry Code
ANZSIC 1111 - Meat Processing 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
Exports have grown in value over recent years despite some adversity. Reputational advantages have enabled Australian exporters to find alternative export markets following d...
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
Wholesale bypass is causing a significant shift across meat processing markets. More supermarkets and restaurants are now purchasing directly from meat processors.
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
The eastern seaboard dominates meat processing locations. Its weather conditions are favourable for sheep and downstream markets are close at hand.
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
Substitute products, including poultry and plant-based alternatives, pose a threat to meat processors. Healthier and more environmentally friendly substitutes represent espec...
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
Reduced exports to China hurt revenue and profitability for meat processors. Adaptation has been key to success for meat processors that focus on exports.
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 JBS Australia's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Thomas Foods International's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Teys Australia's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 2 additional companies
Detailed analysis
- Description and key data for JBS Australia, and factors influencing its performance in the industry
- Description and key data for Thomas Foods International, and factors influencing its performance in the industry
- Description and key data for Teys Australia, and factors influencing its performance in the industry
- Description, key data and performance trends for 2 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Domestic beef and lamb prices fluctuate with livestock supply. Higher prices for these products typically support revenue growth for the industry.
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
Despite volatile downstream demand, a fall in purchase costs has improved profitability. Export sales have soared in recent years, supporting industry 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 Meat Processing industry in Australia in 2024?
The market size of the Meat Processing industry in Australia is $31.8bn in 2024.
How many businesses are there in the Meat Processing in Australia industry in 2024?
There are 668 businesses in the Meat Processing industry in Australia, which has grown at a CAGR of 1.7 % between 2019 and 2024.
Has the Meat Processing industry in Australia grown or declined over the past 5 years?
The market size of the Meat Processing industry in Australia has been growing at a CAGR of 3.7 % between 2019 and 2024.
What is the forecast growth of the Meat Processing industry in Australia over the next 5 years?
Over the next five years, the Meat Processing industry in Australia is expected to grow.
What are the biggest companies in the Meat Processing market in Australia?
The biggest companies operating in the Meat Processing market in Australia are JBS Australia, Thomas Foods International and Teys Australia
What does the Meat Processing in Australia include?
Beef and veal meat and Lamb and sheep meat are part of the Meat Processing industry.
Which companies have the highest market share in the Meat Processing in Australia?
The company holding the most market share in Australia is JBS Australia.
How competitive is the Meat Processing industry in Australia?
The level of competition is moderate and steady in the Meat Processing industry in Australia.
