Canada: Cheese And Curd Market 2024

Cheese And Curd Market Size in Canada

The Canadian cheese and curd market amounted to $X in 2022, with an increase of 1.8% against the previous year. Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.7% 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 +52.2% against 2015 indices. Cheese and curd consumption peaked in 2022 and is likely to see steady growth in years to come.

Cheese And Curd Production in Canada

In value terms, cheese and curd production amounted to $X in 2022 estimated in export price. In general, the total production indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.7% 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 -1.3% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 21%. Cheese and curd production peaked at $X in 2020; afterwards, it flattened through to 2022.

Cheese And Curd Exports

Exports from Canada

In 2022, after two years of decline, there was growth in shipments abroad of cheese and curd, when their volume increased by 2.2% to X tons. In general, exports, however, continue to indicate a mild descent. The pace of growth appeared the most rapid in 2013 with an increase of 17%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, cheese and curd exports stood at $X in 2022. The total export value increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by 26% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for cheese and curd exports from Canada, with a 75% share of total exports. Moreover, cheese and curd exports to the United States exceeded the volume sent to the second major destination, Saudi Arabia (X tons), more than tenfold. Australia (X tons) ranked third in terms of total exports with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-19.3% per year) and Australia (+17.5% per year).

In value terms, the United States ($X) remains the key foreign market for cheese and curd exports from Canada, comprising 86% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 3.3% share of total exports. It was followed by the United Arab Emirates, with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +8.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-17.1% per year) and the United Arab Emirates (+11.4% per year).

Export Prices by Country

In 2022, the average cheese and curd export price amounted to $X per ton, picking up by 8.6% against the previous year. Overall, export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cheese and curd export price increased by +91.0% against 2016 indices. The most prominent rate of growth was recorded in 2021 an increase of 30%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Japan ($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 the United States (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Cheese And Curd Imports

Imports into Canada

In 2022, purchases abroad of cheese and curd increased by 8.1% to X tons, rising for the sixth consecutive year after two years of decline. In general, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2018 when imports increased by 83%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, cheese and curd imports rose rapidly to $X in 2022. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its value 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 +79.9% against 2016 indices. The pace of growth appeared the most rapid in 2021 with an increase of 18% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

The United States (X tons), Italy (X tons) and France (X tons) were the main suppliers of cheese and curd imports to Canada, together accounting for 59% of total imports. The Netherlands, Switzerland, the UK, Australia, Germany, Denmark, New Zealand, Ireland, Greece and Norway lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ireland (with a CAGR of +166.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the United States ($X) and France ($X) appeared to be the largest cheese and curd suppliers to Canada, together comprising 59% of total imports. Switzerland, the Netherlands, the UK, Denmark, Germany, Ireland, Australia, Greece, New Zealand and Norway lagged somewhat behind, together accounting for a further 36%.

Ireland, with a CAGR of +168.3%, recorded the highest rates of growth with regard to the value of imports, among 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, standing approx. at the previous year. Over the period under review, the import price continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2015 when the average import price increased by 49% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+0.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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