Bangladesh: Cheese And Curd Market 2024

Cheese And Curd Market Size in Bangladesh

In 2022, after four years of growth, there was significant decline in the Bangladeshi cheese and curd market, when its value decreased by -5.3% to $X. In general, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +51.6% against 2014 indices. Cheese and curd consumption peaked at $X in 2021, and then fell in the following year.

Cheese And Curd Production in Bangladesh

In value terms, cheese and curd production totaled $X in 2022 estimated in export price. Overall, production, however, continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2020 when the production volume increased by 26%. Cheese and curd production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Cheese And Curd Exports

Exports from Bangladesh

For the third year in a row, Bangladesh recorded growth in overseas shipments of cheese and curd, which increased by 97% to X tons in 2022. In general, exports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 when exports increased by 702% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, cheese and curd exports soared to $X in 2022. Overall, exports, however, recorded a abrupt contraction. The pace of growth appeared the most rapid in 2020 with an increase of 904%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons), Nigeria (X tons) and Ireland (X kg) were the main destinations of cheese and curd exports from Bangladesh, together comprising 99% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ireland (with a CAGR of +312.8%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for cheese and curd exported from Bangladesh were Nigeria ($X), the United States ($X) and Ireland ($X), with a combined 98% share of total exports.

In terms of the main countries of destination, Ireland, with a CAGR of +232.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average cheese and curd export price stood at $X per ton in 2022, falling by -37.7% against the previous year. Overall, the export price showed a noticeable decrease. The pace of growth was the most pronounced in 2018 an increase of 60%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Ireland ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+1.8%), while the prices for the other major destinations experienced a decline.

Cheese And Curd Imports

Imports into Bangladesh

Cheese and curd imports into Bangladesh declined rapidly to X tons in 2022, waning by -16.6% against the previous year. Overall, imports, however, showed a strong expansion. The pace of growth was the most pronounced in 2021 when imports increased by 50% against the previous year. As a result, imports reached the peak of X tons, and then shrank sharply in the following year.

In value terms, cheese and curd imports shrank notably to $X in 2022. In general, imports, however, continue to indicate a strong increase. The growth pace was the most rapid in 2018 when imports increased by 57%. Over the period under review, imports attained the maximum at $X in 2021, and then fell notably in the following year.

Imports by Country

Australia (X tons), New Zealand (X tons) and India (X tons) were the main suppliers of cheese and curd imports to Bangladesh, with a combined 57% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by New Zealand (with a CAGR of +72.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), New Zealand ($X) and India ($X) appeared to be the largest cheese and curd suppliers to Bangladesh, together comprising 51% of total imports.

New Zealand, with a CAGR of +94.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cheese and curd import price stood at $X per ton in 2022, remaining constant against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2016 an increase of 14%. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+22.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :