Brazil: Cheese Market 2024

Cheese Market Size in Brazil

The Brazilian cheese market was finally on the rise to reach $X in 2021, after three years of decline. The market value increased at an average annual rate of +3.3% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Cheese consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Cheese Production in Brazil

In value terms, cheese production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.2% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when the production volume increased by 37%. Cheese production peaked in 2021 and is likely to see gradual growth in the near future.

Cheese Exports

Exports from Brazil

In 2021, the amount of cheese exported from Brazil reached X tons, picking up by 11% against the previous year's figure. Over the period under review, total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +34.1% against 2019 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 21% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, cheese exports soared to $X in 2021. Overall, total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +36.1% against 2019 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 38% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Chile (X tons), Russia (X tons) and Argentina (X tons) were the main destinations of cheese exports from Brazil, together accounting for 56% of total exports. These countries were followed by the United States, Paraguay, Peru, Taiwan (Chinese) and Angola, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +104.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cheese exported from Brazil were Russia ($X), Chile ($X) and the United States ($X), together accounting for 56% of total exports. Argentina, Taiwan (Chinese), Paraguay, Peru and Angola lagged somewhat behind, together accounting for a further 34%.

Peru, with a CAGR of +96.1%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cheese export price stood at $X per ton in 2021, rising by 10% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2017 when the average export price increased by 17% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Cheese Imports

Imports into Brazil

In 2021, supplies from abroad of cheese increased by 3% to X tons, rising for the second consecutive year after three years of decline. In general, total imports indicated a slight expansion from 2012 to 2021: its volume increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +13.6% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 100%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, cheese imports expanded remarkably to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by 64%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Argentina (X tons) constituted the largest supplier of cheese to Brazil, with a 71% share of total imports. Moreover, cheese imports from Argentina exceeded the figures recorded by the second-largest supplier, Uruguay (X tons), threefold. France (X tons) ranked third in terms of total imports with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Argentina stood at +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Uruguay (+4.9% per year) and France (-1.6% per year).

In value terms, Argentina ($X) constituted the largest supplier of cheese to Brazil, comprising 67% of total imports. The second position in the ranking was taken by Uruguay ($X), with an 18% share of total imports. It was followed by France, with a 5.3% share.

From 2012 to 2021, the average annual growth rate of value from Argentina was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Uruguay (-0.3% per year) and France (-2.2% per year).

Import Prices by Country

The average cheese import price stood at $X per ton in 2021, with an increase of 5.8% against the previous year. Over the period under review, the import price, however, showed a noticeable decrease. The growth pace was the most rapid in 2017 an increase of 25%. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, 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 Netherlands ($X per ton), while the price for Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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