Zoological and Botanical Gardens in Australia Industry Market Research Report Now Updated by IBISWorld

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Increasing domestic and international tourism and higher discretionary incomes have supported industry expansion. For this reason, industry research firm IBISWorld has updated its report on the Zoological and Botanical Gardens industry in Australia.

IBISWorld Market Research

IBISWorld Market Research

Consumers prefer zoos and aquariums with larger enclosures and botanical gardens that sustain biodiversity.

Over the past five years, the performance of the operators in the Zoological and Botanical Gardens industry in Australia has been influenced by increasing attendance and declining government funding for environmental heritage. Increasing domestic and international tourism and higher discretionary incomes have supported industry expansion, while a greater range of recreational activities outside the industry has intensified competition for zoos, aquariums and botanical gardens. New attractions at industry facilities, like the birth of an Asian elephant at Melbourne Zoo, have led to a greater percentage of the population visiting zoos and botanical gardens. “However, higher attendances have been somewhat offset by declining government grants,” according to IBISWorld industry analyst Jem Anning. As a result, industry revenue is estimated to increase at an annualised 0.4% over the five years through 2014-15, to total $715.3 million. This includes a pick-up in revenue of 1.9% over 2014-15 due to government funding towards capital works.

The Zoological and Botanical Gardens industry is in the mature stage of its life cycle and industry operators need to regularly develop new facilities, exhibitions and attractions to encourage repeat visits. Due to increased environmental awareness, consumers are preferring zoos and aquariums with larger enclosures and botanical gardens that sustain biodiversity, and “this is putting upward pressure on operating costs,” says Anning. Over the past five years, profit is expected to have increased as unprofitable establishments have exited the industry and larger operators have improved their cost-effectiveness. The industry has a medium level of market share concentration. Major players include Merlin Entertainments (Australia) Pty Ltd, Zoological Parks Board of New South Wales, Zoological Parks and Gardens Board, and Royal Botanic Gardens and Domain Trust.

A high percentage of the domestic population already visits zoos, aquariums and botanical gardens. Therefore, growth in the number of international visitors to Australia greatly affects the industry's growth potential. International travel to Australia has increased over the past five years and is expected to continue to rise over the next five years, providing the industry with an opportunity to grow. Government grants are expected to increase at the beginning of the next five years due to already scheduled capital works, but taper off towards the end of the period due to government budgetary constraints and changing priorities. As a result, industry operators will need to increase private sponsorship to cover operating costs.

For more information, visit IBISWorld’s Zoological and Botanical Gardens industry in Australia report page.

This industry includes the operation of zoos, aquariums and botanical gardens.

Follow IBISWorld on Twitter: http://twitter.com/#!/ibisworldau

IBISWorld industry Report Key Topics

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
International Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalisation
Major Companies
Operating Conditions
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.

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Gavin Smith
IBISWorld
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