Browse Data and Analysis

In 2023, Australia's foodservice industry was worth A$59 billion (US$39.1 billion). However, rising inflation and the overall cost of living have hindered its growth in 2023 and 2024.

Milk production for 2025 in Australia is forecast to increase by 1.1 percent to 8.8 million metric tons (MMT) after strong growth of 2.7 percent for 2024 at an estimated 8.7 MMT from previous years of declining production.

The Australian federal government’s strong support for biotechnology is evident in its considerable long-term funding commitment to research and development. Despite the contentious nature of biotech in Australia, the federal government remains a strong proponent, investing heavily in research and development and approving various genetically engineered crops for commercial use.

2022 saw the start of the post-pandemic recovery for the hospitality industry in Australia.

Stone fruit production in Australia is forecast to increase in marketing year (MY) 2023/24, following two successive seasons affected by unseasonably wet weather, labor shortages at harvest, logistics challenges, and very high costs due to the COVID-19 pandemic.

FAS/Canberra’s sugar cane production estimate for Australia is revised downward for marketing year (MY) 2023/24 to 31.0 million metric tons (MMT). A very late finish to the MY 2023/24 harvest combined with a bigger-than-usual tropical wet season has...

Australian beef supply is forecast to recover in 2024 to the point of reaching the sixth highest production on record.