Asia-Pacific: Cheese And Curd Market 2024

Cheese And Curd Market Size in Asia-Pacific

The Asia-Pacific cheese and curd market expanded to $X in 2022, picking up by 1.5% against the previous year. The market value increased at an average annual rate of +3.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Cheese And Curd Production in Asia-Pacific

In value terms, cheese and curd production rose modestly to $X in 2022 estimated in export price. The total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.7% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of 64%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Cheese And Curd Exports

Exports in Asia-Pacific

In 2022, approx. X tons of cheese and curd were exported in Asia-Pacific; increasing by 30% on 2021 figures. The total export volume increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, cheese and curd exports soared to $X in 2022. Total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +64.9% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

New Zealand was the major exporter of cheese and curd in Asia-Pacific, with the volume of exports reaching X tons, which was approx. 76% of total exports in 2022. It was distantly followed by Australia (X tons), achieving a 21% share of total exports.

New Zealand was also the fastest-growing in terms of the cheese and curd exports, with a CAGR of +5.3% from 2012 to 2022. Australia (-1.6%) illustrated a downward trend over the same period. While the share of New Zealand (+12 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Australia (-13.6 p.p.) displayed negative dynamics.

In value terms, New Zealand ($X) remains the largest cheese and curd supplier in Asia-Pacific, comprising 75% of total exports. The second position in the ranking was held by Australia ($X), with a 21% share of total exports.

From 2012 to 2022, the average annual growth rate of value in New Zealand totaled +8.0%.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, surging by 13% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2017 an increase of 17% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while New Zealand amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+2.6%).

Cheese And Curd Imports

Imports in Asia-Pacific

After three years of growth, purchases abroad of cheese and curd decreased by -2.2% to X tons in 2022. Total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +5.0% 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 +62.1% against 2012 indices. The pace of growth appeared the most rapid in 2015 with an increase of 12% against the previous year. The volume of import peaked at X tons in 2021, and then fell modestly in the following year.

In value terms, cheese and curd imports totaled $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 +55.7% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 22%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

In 2022, Japan (X tons), distantly followed by South Korea (X tons), China (X tons), Australia (X tons) and Indonesia (X tons) represented the key importers of cheese and curd, together constituting 77% of total imports. The Philippines (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons), Thailand (X tons), Singapore (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +14.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cheese and curd importing markets in Asia-Pacific were Japan ($X), South Korea ($X) and China ($X), together accounting for 60% of total imports.

China, with a CAGR of +15.2%, saw the highest growth rate of 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 Asia-Pacific stood at $X per ton in 2022, picking up by 10% 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.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Singapore ($X per ton) and Hong Kong SAR ($X per ton), while Taiwan (Chinese) ($X per ton) and Malaysia ($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

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