Asia: Cheese And Curd Market 2024

Cheese And Curd Market Size in Asia

In 2022, the Asian cheese and curd market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. The total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Cheese And Curd Production in Asia

In value terms, cheese and curd production dropped slightly to $X in 2022 estimated in export price. In general, production recorded tangible growth. The growth pace was the most rapid in 2015 with an increase of 58% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Cheese And Curd Exports

Exports in Asia

In 2022, overseas shipments of cheese and curd were finally on the rise to reach X tons after three years of decline. The total export volume increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2013 when exports increased by 40%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, cheese and curd exports reached $X in 2022. The total export value increased at an average annual rate of +4.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 35% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

The shipments of the three major exporters of cheese and curd, namely Saudi Arabia, Turkey and Cyprus, represented more than two-thirds of total export. It was distantly followed by Bahrain (X tons), committing a 6.7% share of total exports. India (X tons), the United Arab Emirates (X tons), Jordan (X tons), Singapore (X tons) and Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Indonesia (with a CAGR of +16.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest cheese and curd supplying countries in Asia were Cyprus ($X), Saudi Arabia ($X) and Turkey ($X), together comprising 67% of total exports. Bahrain, India, the United Arab Emirates, Jordan, Singapore and Indonesia lagged somewhat behind, together accounting for a further 22%.

Indonesia, with a CAGR of +17.8%, 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

In 2022, the export price in Asia amounted to $X per ton, surging by 1.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The pace of growth appeared the most rapid in 2015 when the export price increased by 14% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

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 Bahrain ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+6.2%), while the other leaders experienced more modest paces of growth.

Cheese And Curd Imports

Imports in Asia

In 2022, approx. X tons of cheese and curd were imported in Asia; falling by -1.8% on the previous year's figure. The total import volume increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when imports increased by 9.3% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then contracted in the following year.

In value terms, cheese and curd imports reached $X in 2022. The total import value increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 15%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Japan (X tons), Saudi Arabia (X tons), South Korea (X tons) and China (X tons) represented roughly 54% of total imports in 2022. It was distantly followed by the United Arab Emirates (X tons), constituting a 5.3% share of total imports. Iraq (X tons), Indonesia (X tons), the Philippines (X tons), Kuwait (X tons), Taiwan (Chinese) (X tons), Kazakhstan (X tons), Malaysia (X tons) and Yemen (X tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (with a CAGR of +14.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cheese and curd importing markets in Asia were Japan ($X), South Korea ($X) and China ($X), with a combined 43% share of total imports.

In terms of the main importing countries, China, with a CAGR of +15.2%, saw the highest rates of growth with regard to the value of imports, 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 Asia stood at $X per ton in 2022, growing by 8% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Philippines ($X per ton), while Yemen ($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 (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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