ASEAN: Cheese And Curd Market 2024

Cheese And Curd Market Size in ASEAN

The ASEAN cheese and curd market was estimated at $X in 2022, remaining constant against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Cheese And Curd Production in ASEAN

In value terms, cheese and curd production stood at $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 172% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Cheese And Curd Exports

Exports in ASEAN

In 2022, shipments abroad of cheese and curd increased by 21% to X tons, rising for the seventh consecutive year after two years of decline. In general, exports recorded a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 49%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, cheese and curd exports skyrocketed to $X in 2022. Overall, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2013 when exports increased by 35% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Singapore (X tons) and Indonesia (X tons) represented the key exporters of cheese and curd in 2022, amounting to approx. 34% and 33% of total exports, respectively. Thailand (X tons) ranks next in terms of the total exports with a 9.1% share, followed by the Philippines (7.6%), Vietnam (7.4%) and Malaysia (7.4%).

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +22.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Indonesia ($X) and Thailand ($X) constituted the countries with the highest levels of exports in 2022, together comprising 78% of total exports. The Philippines, Malaysia and Vietnam lagged somewhat behind, together comprising a further 21%.

Vietnam, with a CAGR of +24.0%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, flattening at the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the export price increased by 21%. Over the period under review, the export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+8.6%), while the other leaders experienced more modest paces of growth.

Cheese And Curd Imports

Imports in ASEAN

In 2022, supplies from abroad of cheese and curd increased by 20% to X tons, rising for the third consecutive year after two years of decline. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +27.8% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, cheese and curd imports surged to $X in 2022. Total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +118.5% against 2012 indices. The pace of growth appeared the most rapid in 2017 with an increase of 28%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

Indonesia (X tons), the Philippines (X tons) and Malaysia (X tons) represented roughly 71% of total imports in 2022. Thailand (X tons) ranks next in terms of the total imports with an 11% share, followed by Singapore (10%) and Vietnam (5.9%).

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +12.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cheese and curd importing markets in ASEAN were Indonesia ($X), the Philippines ($X) and Malaysia ($X), together comprising 67% of total imports. Singapore, Thailand and Vietnam lagged somewhat behind, together comprising a further 31%.

Vietnam, with a CAGR of +14.7%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, picking up by 5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2017 an increase of 7.1%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Singapore ($X per ton) and Thailand ($X per ton), while Malaysia ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform