Pig Farming in Australia - Market Research Report (2013-2028)
Melbourne, Australia
Last Updated: August 2023
ANZSIC A0192Revenue
$1.6bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
2,469
Businesses
763
Wages
$XXX.Xm
Pig Farming in Australia industry analysis
Pig farmers have faced considerable challenges over the past few years. Pig meat consumption has slumped, although it has remained above long-term averages. The industry's main representative body, Australian Pork Limited's marketing campaigns have supported pork consumption by promoting fresh pork's health benefits. Additionally, global demand trends and improved weather conditions have caused the domestic price of pig meat to fluctuate significantly. The pig meat price surged over the two years through 2019-20 following an outbreak of African swine fever in China, which caused China to lose half its national herd. Supply has recovered since but pig meat prices still remain high. Overall, industry revenue has increased at an annualised 2.0% over the past five years and is expected to total $1.6 billion in 2023-24, when revenue will sink by an estimated 0.9%.Industry businesses have trended towards larger and more commercialised pig production systems to achieve economies of scale. Larger players like Sunpork and Westpork have invested more in their production capabilities and boosted their market shares. Hence, industry concentration has intensified. Industry enterprise numbers have waned because many small-scale farms have exited the industry as they have been unable to secure supplier contracts with downstream markets.Industry revenue is set to strengthen in the future. Pig meat consumption is on track to rise following APL's marketing efforts. Rising demand from meat processors and increasing poultry prices will also support industry performance. However, revenue growth will be constrained as increasingly health-conscious consumers opt for alternative protein sources. Industry concentration is on track to increase as the larger players continue expanding production and acquiring smaller farms. Industry revenue is forecast to grow at an annualised 1.8% over the five years through 2028-29 to total $1.8 billion.
Trends and Insights
- Industry participation has shrunk as concentration has intensified. Larger farms are acquiring smaller ones and expanding their operations, forcing some businesses to exit the industry.
- Porkers have expanded as a share of industry revenue. This can be attributed to higher demand for fresh and leaner pork compared to fattier bacon.
- Pig farms are typically located close to upstream and downstream markets. Hence, most industry businesses are situated near grain growers and meat processors.
- Pig farmers compete with each other based on price and quality. Since the product is largely homogenous, pig farmers differentiate themselves by offering high quality products and obtaining APIQ accreditations.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has grown at a CAGR of 2.0 % over the past five years, to reach an estimated $1.6bn in 2023.
Trends and Insights
Surging pig meat prices have supported industry revenue and profitability
- The main industry revenue driver is the price of pig meat.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Demand and pricing will support industry growth
- Greater demand from meat processors and rising poultry prices will support the industry.
Biggest companies in the Pig Farming in Australia
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
SunPork | 173.7 | |
Rivalea | 119.6 | |
George Weston Foods | 80.2 |
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 Porkers , Baconers and Other pigs. Porkers is the largest segment of the Pig Farming in Australia.
Trends and Insights
Significant promotion of fresh pork has boosted demand for porkers
- Porkers are pigs raised to between 30 and 54 kilograms (dressed weight) for pork meat production. They are typically low in fat, as this produces a high-quality protein that conforms to consumer expectations of lean meat.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Sheep Farming in Australia
- Beef Cattle Farming in Australia
Complementors
- Meat Processing in Australia
- Cured Meat and Smallgoods Manufacturing in Australia
International industries
- Hog & Pig Farming in the US
- Hog & Pig Farming in Canada
- Deer, Pig and Other Livestock Farming in New Zealand
- Pig Farming in the UK
- Raising of Animals in Ireland
Table of Contents
About this industry
Industry definition
Industry operators primarily farm pigs that will be processed into pig meat.
What's included in this industry?
PorkersBaconersSuckling pigsCompanies
SunPorkRivaleaGeorge Weston FoodsPurchase this report to view all 5 major companies in this industry.
Related Terms
PORKERSBACONERSSMALLGOODSSOWPIGLETSOVER-THE-HOOKSSUCKLING PIGIndustry Code
ANZSIC 0192 - Pig Farming 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
Industry participation has shrunk as concentration has intensified. Larger farms are acquiring smaller ones and expanding their operations, forcing some businesses to exit th...
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 (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- 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
Porkers have expanded as a share of industry revenue. This can be attributed to higher demand for fresh and leaner pork compared to fattier bacon.
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2023
- Product innovation level
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
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
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
Pig farms are typically located close to upstream and downstream markets. Hence, most industry businesses are situated near grain growers and meat processors.
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 2023
Tables
- Number and share of establishments in each region in 2023
- Number and share of revenue each region accounts for in 2023
- Number and share of wages each region accounts for in 2023
- Number and share of employees in each region in 2023
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
Pig farmers compete with each other based on price and quality. Since the product is largely homogenous, pig farmers differentiate themselves by offering high quality product...
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 2018-2023
- 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
Sunpork has expanded its market share over the past few years. The company has achieved this through organic growth and acquisitions.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of SunPork's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Rivalea's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of George Weston Foods's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for 2 additional companies
Detailed analysis
- Description and key data for SunPork, and factors influencing its performance in the industry
- Description and key data for Rivalea, and factors influencing its performance in the industry
- Description and key data for George Weston Foods, 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
Industry businesses must adhere to several regulations. These guidelines relate to effluent disposal, pig marking systems, accreditations and animal welfare.
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 (2013-2028)
- Assistance historical data and forecast (2013-2028)
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
Industry profitability has risen. This trend can be attributed to high pig meat prices and withering coarse grain and wheat feed prices.
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 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
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 (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
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 Pig Farming industry in Australia in 2024?
The market size of the Pig Farming industry in Australia is $1.6bn in 2024.
How many businesses are there in the Pig Farming in Australia industry in 2023?
There are 763 businesses in the Pig Farming industry in Australia, which has declined at a CAGR of 1.7 % between 2018 and 2023.
Has the Pig Farming industry in Australia grown or declined over the past 5 years?
The market size of the Pig Farming industry in Australia has been growing at a CAGR of 2.0 % between 2018 and 2023.
What is the forecast growth of the Pig Farming industry in Australia over the next 5 years?
Over the next five years, the Pig Farming industry in Australia is expected to grow.
What are the biggest companies in the Pig Farming market in Australia?
The biggest companies operating in the Pig Farming market in Australia are SunPork, Rivalea and George Weston Foods
What does the Pig Farming in Australia include?
Porkers and Baconers are part of the Pig Farming industry.
Which companies have the highest market share in the Pig Farming in Australia?
The company holding the most market share in Australia is SunPork.
How competitive is the Pig Farming industry in Australia?
The level of competition is moderate and increasing in the Pig Farming industry in Australia.
