Sugar Cane Growing in Australia - Market Research Report (2014-2029)
Melbourne, Australia
Last Updated: August 2024
ANZSIC A0151Revenue
$2.2bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
12,936
Businesses
4,239
Wages
$XXX.Xm
Sugar Cane Growing in Australia industry analysis
The Sugar Cane Growing industry has faced turbulent conditions. Its performance is strongly tethered to weather conditions and the global price of sugar. While pre-2020 droughts severely limited output, abundant rainfall in the following years boosted yields, although occasional floods delayed harvests. In 2022-23, a steep spike in the global price of sugar resulting from supply shortages from key sugar exporters India and Thailand saw revenue surge. Overall, revenue is expected to climb by an annualised 7.2% over the five years through 2024-25, to $2.2 billion. This includes a dip of 3.2% in the current year as turbulent weather persists and health trends turn consumers away from sugar consumption.
Trends and Insights
- The global price of sugar saw a steep spike in 2022-23 because of supply shortages from key exporters India and Thailand. This has resulted in heightened revenue for cane growers despite mixed weather conditions.
- Sugar cane is the only product that cane growers produce. Sugar cane is used to make raw sugar and then refined sugar. The by-products of the milling process include bagasse and molasses.
- Over 90.0% of cane farms are located in Queensland. The state’s ideal climatic conditions and ample processing facilities contribute to this trend.
- The Sugar Cane Growing industry is dominated by small and medium-size farms, over 75.0% of which are operated by owners and their families. These farms typically hire part-time or casual workers only during peak and harvest seasons.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 7.2 % over the past five years, to reach an estimated $2.2bn in 2024.
Trends and Insights
Sugar cane growers' dependence on weather conditions exposes them to considerable volatility
- Sugar cane yields, crucial for industry performance, are highly volatile because of the crop's sensitivity to adverse weather and disease.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to decline over the next five years.
Trends and Insights
Declining sugar prices are set to lower returns for cane growers
- Changes in global sugar supply and demand largely determine the production outlook for local sugar cane growers. Despite an expected increase in global sugar production resulting from rising populations in places like India, the Australian Bureau of Agricultural and Resource Economics and Sciences forecasts a drop in Australia's sugar export value.
Biggest companies in the Sugar Cane Growing in Australia
| Company | Market Share (%)
2025 | Revenue ($m)
2025 |
|---|---|---|
MSF Sugar | 54.6 | |
Bundaberg Sugar | 54.1 | |
Rural Funds Management Limited | 3.8 |
To view the market share and analysis for all 3 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 Sugar cane. Sugar cane is the largest segment of the Sugar Cane Growing in Australia.
Trends and Insights
Volatile world prices and weather conditions impact supply and demand of sugar cane
- The industry produces just one product, sugar cane, which millers process into raw and refined sugar. By-products from this process, like bagasse and molasses, are used for cattle feed, ethanol production and fertilisers.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Grain Growing in Australia
- Cotton Growing in Australia
- Sugar Manufacturing in Australia
- Rice Growing in Australia
International industries
- Sugarcane Harvesting in the US
Table of Contents
About this industry
Industry definition
Operators in the industry are primarily engaged in sugar cane growing.
What's included in this industry?
Sugar cane growingCompanies
MSF SugarBundaberg SugarRural Funds Management LimitedPurchase this report to view all 3 major companies in this industry.
Related Terms
BAGASSEMOLASSESTILLAGEIndustry Code
ANZSIC 0151 - Sugar Cane Growing 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
The global price of sugar saw a steep spike in 2022-23 because of supply shortages from key exporters India and Thailand. This has resulted in heightened revenue for cane gro...
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
Sugar cane is the only product that cane growers produce. Sugar cane is used to make raw sugar and then refined sugar. The by-products of the milling process include bagasse ...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
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
Over 90.0% of cane farms are located in Queensland. The state’s ideal climatic conditions and ample processing facilities contribute to this trend.
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 Sugar Cane Growing industry is dominated by small and medium-size farms, over 75.0% of which are operated by owners and their families. These farms typically hire part-ti...
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
The Sugar Cane Growing industry has no major companies. The industry is highly fragmented, comprising many small and mid-size farms.
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 MSF Sugar's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Bundaberg Sugar's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Rural Funds Management Limited's performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for MSF Sugar, and factors influencing its performance in the industry
- Description and key data for Bundaberg Sugar, and factors influencing its performance in the industry
- Description and key data for Rural Funds Management Limited, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The Queensland Parliament has passed bills to deregulate the Sugar Cane Growing industry multiple times. These bills have allowed cane growers to choose who gets to market th...
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
Surges in global sugar prices, driven by below-average overseas output, have dramatically increased returns for cane growers. This dynamic has significantly amplified profit ...
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 Sugar Cane Growing industry in Australia in 2024?
The market size of the Sugar Cane Growing industry in Australia is $2.2bn in 2024.
How many businesses are there in the Sugar Cane Growing in Australia industry in 2024?
There are 4,239 businesses in the Sugar Cane Growing industry in Australia, which has declined at a CAGR of 1.2 % between 2019 and 2024.
Has the Sugar Cane Growing industry in Australia grown or declined over the past 5 years?
The market size of the Sugar Cane Growing industry in Australia has been growing at a CAGR of 7.2 % between 2019 and 2024.
What is the forecast growth of the Sugar Cane Growing industry in Australia over the next 5 years?
Over the next five years, the Sugar Cane Growing industry in Australia is expected to decline.
What are the biggest companies in the Sugar Cane Growing market in Australia?
The biggest companies operating in the Sugar Cane Growing market in Australia are MSF Sugar, Bundaberg Sugar and Rural Funds Management Limited
What does the Sugar Cane Growing in Australia include?
Sugar cane growing and are part of the Sugar Cane Growing industry.
Which companies have the highest market share in the Sugar Cane Growing in Australia?
The company holding the most market share in Australia is MSF Sugar.
How competitive is the Sugar Cane Growing industry in Australia?
The level of competition is moderate and steady in the Sugar Cane Growing industry in Australia.
