Canada: Cheese Market 2024

Cheese Market Size in Canada

The Canadian cheese market surged to $X in 2021, increasing by 20% against the previous year. Overall, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +79.0% against 2015 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Cheese Production in Canada

In value terms, cheese production surged to $X in 2021 estimated in export price. Over the period under review, the total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +77.2% against 2015 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Cheese Exports

Exports from Canada

In 2021, the amount of cheese exported from Canada declined sharply to X tons, shrinking by -24.7% compared with the previous year. Overall, exports showed a pronounced setback. The growth pace was the most rapid in 2013 with an increase of 17% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, cheese exports reduced slightly to $X in 2021. The total export value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 26% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for cheese exports from Canada, accounting for a 53% share of total exports. Moreover, cheese exports to the United States exceeded the volume sent to the second major destination, Egypt (X tons), eightfold. The third position in this ranking was taken by Saudi Arabia (X tons), with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+59.8% per year) and Saudi Arabia (-19.9% per year).

In value terms, the United States ($X) remains the key foreign market for cheese exports from Canada, comprising 71% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 5% share of total exports. It was followed by Bahamas, with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-16.0% per year) and Bahamas (+24.4% per year).

Export Prices by Country

In 2021, the average cheese export price amounted to $X per ton, growing by 30% against the previous year. In general, export price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cheese export price increased by +76.3% against 2016 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Philippines ($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 the United States (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Cheese Imports

Imports into Canada

In 2021, approx. X tons of cheese were imported into Canada; jumping by 18% against the previous year. In general, imports continue to indicate resilient growth. The growth pace was the most rapid in 2018 when imports increased by 320% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, cheese imports skyrocketed to $X in 2021. Overall, total imports indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.7% 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 +66.4% against 2016 indices. As a result, imports attained the peak and are likely to continue 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 imports to Canada, with a combined 57% share of total imports. The Netherlands, Switzerland, the UK, Australia, Germany, Denmark, Ireland, Greece, New Zealand and Norway lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ireland (with a CAGR of +193.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cheese suppliers to Canada were Italy ($X), the United States ($X) and France ($X), together comprising 59% of total imports. These countries were followed by Switzerland, the Netherlands, the UK, Denmark, Ireland, Germany, Australia, Greece, New Zealand and Norway, which together accounted for a further 36%.

In terms of the main suppliers, Ireland, with a CAGR of +200.8%, recorded the highest growth rate of 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

In 2021, the average cheese import price amounted to $X per ton, stabilizing at the previous year. In general, the import price, however, showed a perceptible descent. The pace of growth appeared the most rapid in 2015 when the average import price increased by 236%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: 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 2021, the most notable rate of growth in terms of prices was attained by Ireland (+2.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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