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Cheese & Other Dairy Product Manufacturing in New Zealand Industry Data and Analysis
The Cheese, Butter and Milk Powder Manufacturing industry is expected to rise 5.0% over the current year, to reach $31.2 billion in 2026-27. The annualised rate over the five years through 2026-27 is expected to be nearly flat at 0.2%, as global dairy commodity price cycles drove revenue volatility rather than underlying expansion. Strong upstream milk supply volumes sustained processing throughput since 2021-22. A shift in Chinese dairy procurement towards New Zealand suppliers, driven by trade policy developments that favour duty-free access over tariff-disadvantaged competitors, like the United States, has created a pricing windfall in the industry's largest single export destination. Total exports reached $23.2 billion in 2026-27, representing approximately three-quarters of industry revenue, with record cheese and butter volumes confirming that the export base is broadening beyond commodity milk powder. New free trade agreements with the European Union and the United Kingdom are opening additional high-value channels, reducing the industry's concentration risk in a single export market.
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What's included in this industry analysis
IBISWorld's research coverage on the Cheese & Other Dairy Product Manufacturing industry in New Zealand includes market sizing, forecasting, data and analysis from 2016-2031. The most recent publication was released September 2026.
About this industry
What's this industry report about?
The Cheese & Other Dairy Product Manufacturing industry in New Zealand operates under the ANZSIC industry code C1133NZ. Manufacturers primarily produce dairy products, like cheese, yoghurt, butter, milk powder, canned cream and condensed milk. Related terms covered in the Cheese & Other Dairy Product Manufacturing industry in New Zealand include anhydrous milk fat, farmgate prices, protected designation of origin (pdo) and ultra-high temperature (uht) creams.
What's included in this industry?
Products and services covered in Cheese & Other Dairy Product Manufacturing industry in New Zealand include Milk and cream concentrates, Butter and dairy spreads and Cheese.
What companies are included in this industry?
Companies covered in the Cheese & Other Dairy Product Manufacturing industry in New Zealand include Fonterra Co-op Group and Synlait.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Cheese & Other Dairy Product Manufacturing industry in New Zealand.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Cheese & Other Dairy Product Manufacturing industry in New Zealand.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Cheese & Other Dairy Product Manufacturing industry in New Zealand.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Cheese & Other Dairy Product Manufacturing industry in New Zealand. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Cheese & Other Dairy Product Manufacturing industry in New Zealand. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Cheese & Other Dairy Product Manufacturing industry in New Zealand. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Cheese & Other Dairy Product Manufacturing industry in New Zealand. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Cheese & Other Dairy Product Manufacturing industry in New Zealand.
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Frequently Asked Questions
What is the market size of the Cheese & Other Dairy Product Manufacturing industry in New Zealand in 2026?
The market size of the Cheese & Other Dairy Product Manufacturing industry in New Zealand is $31.2bn in 2026.
How many businesses are there in the Cheese & Other Dairy Product Manufacturing industry in New Zealand in 2026?
There are 106 businesses in the Cheese & Other Dairy Product Manufacturing industry in New Zealand, which has declined at a CAGR of 1.4 % between 2021 and 2026.
How may import tariffs affect the Cheese & Other Dairy Product Manufacturing industry in New Zealand?
The Cheese & Other Dairy Product Manufacturing industry in New Zealand is likely to be impacted by import tariffs with imports accounting for a moderate share of industry revenue.
How may export tariffs affect the Cheese & Other Dairy Product Manufacturing industry in New Zealand?
The Cheese & Other Dairy Product Manufacturing industry in New Zealand is likely to be significantly impacted by export tariffs with exports accounting for a high share of industry revenue.
Has the Cheese & Other Dairy Product Manufacturing industry in New Zealand grown or declined over the past 5 years?
The market size of the Cheese & Other Dairy Product Manufacturing industry in New Zealand has been growing at a CAGR of 0.1 % between 2021 and 2026.
What is the forecast growth of the Cheese & Other Dairy Product Manufacturing industry in New Zealand over the next 5 years?
Over the next five years, the Cheese & Other Dairy Product Manufacturing industry in New Zealand is expected to grow.
What are the biggest companies in the Cheese & Other Dairy Product Manufacturing industry in New Zealand?
The biggest companies operating in the Cheese & Other Dairy Product Manufacturing industry in New Zealand are Fonterra Co-op Group and Synlait
What does the Cheese & Other Dairy Product Manufacturing industry in New Zealand include?
Butter and dairy spreads and Milk and cream concentrates are part of the Cheese & Other Dairy Product Manufacturing industry in New Zealand.
Which companies have the highest market share in the Cheese & Other Dairy Product Manufacturing industry in New Zealand?
The company holding the most market share in the Cheese & Other Dairy Product Manufacturing industry in New Zealand is Fonterra Co-op Group.
How competitive is the Cheese & Other Dairy Product Manufacturing industry in New Zealand?
The level of competition is moderate and increasing in the Cheese & Other Dairy Product Manufacturing industry in New Zealand.
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