Hay and Other Crop Growing in Australia - Market Research Report (2014-2029)
Melbourne, Australia
Last Updated: February 2024
ANZSIC A0159Revenue
$1.8bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
4,666
Businesses
1,979
Wages
$XXX.Xm
Hay and Other Crop Growing in Australia industry analysis
Recent years of high rainfall, particularly from La Nina weather patterns, have brought mixed outcomes for hay and other crop growers. While it enhanced crop yield and quality, it also fuelled occasional floods causing crop damage and price hikes, which hurt revenue. Amid this, farms struggle with the cost of damaged crops, with most farms being non-employing.
Trends and Insights
- Higher levels of rainfall play a dual role for hay and other fodder crop growers. While it can elevate crop yields and pasture quality, flooding is a significant risk.
- Heightened rainfall volumes have had diverse effects on hay growing. While the surplus rain has hindered some farmers from transitioning their crops to cereal hay, flooding has stifled hay production across certain regions.
- Queensland is over-represented in its share of hay and other crop-growing farms relative to its population. The state’s high rainfall, temperature and proximity to downstream markets encourages the high number of farms there.
- Given its bulkiness and abundant domestic availability, hay is relatively shielded from foreign substitutes. Conversely, other crops like coffee beans are predominantly sourced from overseas and face heightened competition.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 7.3 % over the past five years, to reach an estimated $1.8bn in 2024.
Trends and Insights
High rainfall has had varied impacts on hay and other crop farmers
- Levels of annual rainfall have been particularly high in recent years because of instances of La Nina, which tend to bring wetter and cooler weather conditions, particularly in winter, spring and early summer.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Weather conditions will remain a defining factor influencing industry productivity
- Rainfall and weather conditions are challenging to forecast and have the potential to significantly alter the industry's performance.
Biggest companies in the Hay and Other Crop Growing in Australia
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
Bridestowe Lavender (China) Pty Ltd | 9.2 | |
Haas Investments | 9.1 | |
Emerald Hay Pty Ltd | 5.0 |
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 Lucerne hay, Pasture hay and Cereal hay. Lucerne hay is the largest segment of the Hay and Other Crop Growing in Australia.
Trends and Insights
Weather conditions drive cereal hay production
- Cereal hay is grown from crops like barley and oats, and requires a substantial amount of fertiliser.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Grain Growing in Australia
- Rice Growing in Australia
Complementors
- Grape Growing in Australia
- Citrus Fruit, Nut and Other Fruit Growing in Australia
- Outdoor Vegetable Growing in Australia
International industries
- Hay & Crop Farming in the US
- Hay and Other Crop Growing in New Zealand
Table of Contents
About this industry
Industry definition
Operators in the industry grow fodder crops such as hay, silage and alfalfa, and other niche crops like peanuts, ginger, coffee, chicory and lavender.
What's included in this industry?
Cereal hayPasture hayLucerne hayVegetables (for fodder)Hops, jute and lavender Medicinal plantsChicory and coffeeBambooMustard, ginger, ramie, lucerne and flaxTeaCompanies
Bridestowe Lavender (China) Pty LtdHaas InvestmentsEmerald Hay Pty LtdPurchase this report to view all 3 major companies in this industry.
Related Terms
HOPSLUCERNEFODDERFINISHINGIMPUTED WAGEIndustry Code
ANZSIC 0159 - Hay and Other Crop 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
Higher levels of rainfall play a dual role for hay and other fodder crop growers. While it can elevate crop yields and pasture quality, flooding is a significant risk.
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
Heightened rainfall volumes have had diverse effects on hay growing. While the surplus rain has hindered some farmers from transitioning their crops to cereal hay, flooding h...
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
Queensland is over-represented in its share of hay and other crop-growing farms relative to its population. The state’s high rainfall, temperature and proximity to downstream...
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
Given its bulkiness and abundant domestic availability, hay is relatively shielded from foreign substitutes. Conversely, other crops like coffee beans are predominantly sourc...
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
Over three-quarters of hay and crop-growing farmers operate without any hired help. Those that do employ, generally count on a small team of workers, with only a handful of f...
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 Bridestowe Lavender (China) Pty Ltd's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Haas Investments's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Emerald Hay Pty Ltd's performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Bridestowe Lavender (China) Pty Ltd, and factors influencing its performance in the industry
- Description and key data for Haas Investments, and factors influencing its performance in the industry
- Description and key data for Emerald Hay Pty Ltd, 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
Rainfall impacts the growth of hay and other crops in complex ways. While fruitful rain boosts crop yields, enhances quality and enriches pasture – reducing fodder requiremen...
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
Many hay and other crop farmers pass on cost increases to buyers to account for higher purchase costs. This trend has seen profit margins expand since 2020-21.
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 Hay and Other Crop Growing industry in Australia in 2024?
The market size of the Hay and Other Crop Growing industry in Australia is $1.8bn in 2024.
How many businesses are there in the Hay and Other Crop Growing in Australia industry in 2024?
There are 1,979 businesses in the Hay and Other Crop Growing industry in Australia, which has declined at a CAGR of 0.9 % between 2019 and 2024.
Has the Hay and Other Crop Growing industry in Australia grown or declined over the past 5 years?
The market size of the Hay and Other Crop Growing industry in Australia has been declining at a CAGR of 7.3 % between 2019 and 2024.
What is the forecast growth of the Hay and Other Crop Growing industry in Australia over the next 5 years?
Over the next five years, the Hay and Other Crop Growing industry in Australia is expected to grow.
What are the biggest companies in the Hay and Other Crop Growing market in Australia?
The biggest companies operating in the Hay and Other Crop Growing market in Australia are Bridestowe Lavender (China) Pty Ltd, Haas Investments and Emerald Hay Pty Ltd
What does the Hay and Other Crop Growing in Australia include?
Cereal hay and Pasture hay are part of the Hay and Other Crop Growing industry.
Which companies have the highest market share in the Hay and Other Crop Growing in Australia?
The company holding the most market share in Australia is Bridestowe Lavender (China) Pty Ltd.
How competitive is the Hay and Other Crop Growing industry in Australia?
The level of competition is moderate and steady in the Hay and Other Crop Growing industry in Australia.
