Eastern Asia: Cheese And Curd Market 2024

Cheese And Curd Market Size in Eastern Asia

The East Asian cheese and curd market was estimated at $X in 2022, remaining relatively unchanged against the previous year. The total consumption indicated buoyant 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, consumption decreased by -0.2% against 2020 indices. The level of consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Cheese And Curd Production in Eastern Asia

In value terms, cheese and curd production reached $X in 2022 estimated in export price. The total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 most prominent rate of growth was recorded in 2017 when the production volume increased by 13%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Cheese And Curd Exports

Exports in Eastern Asia

After three years of growth, overseas shipments of cheese and curd decreased by -6% to X tons in 2022. Total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 26% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then declined in the following year.

In value terms, cheese and curd exports contracted to $X in 2022. In general, exports, however, recorded a prominent expansion. The growth pace was the most rapid in 2014 with an increase of 18%. Over the period under review, the exports reached the maximum at $X in 2021, and then shrank in the following year.

Exports by Country

South Korea (X tons), Japan (X tons) and Hong Kong SAR (X tons) represented roughly 83% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X tons) and China (X tons), together comprising a 17% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by South Korea (with a CAGR of +27.8%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and Hong Kong SAR ($X) constituted the countries with the highest levels of exports in 2022, with a combined 86% share of total exports.

South Korea, with a CAGR of +29.5%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, waning by -3.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The pace of growth appeared the most rapid in 2021 when the export price increased by 15%. As a result, the export price attained the peak level of $X per ton, and then reduced modestly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.5%), while the other leaders experienced more modest paces of growth.

Cheese And Curd Imports

Imports in Eastern Asia

In 2022, after ten years of growth, there was significant decline in supplies from abroad of cheese and curd, when their volume decreased by -7.4% to X tons. Total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +4.9% 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 +60.7% against 2012 indices. The pace of growth was the most pronounced in 2015 when imports increased by 10% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then declined in the following year.

In value terms, cheese and curd imports expanded modestly to $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +55.8% against 2016 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 19%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

Japan represented the key importing country with an import of about X tons, which reached 44% of total imports. South Korea (X tons) took the second position in the ranking, followed by China (X tons) and Taiwan (Chinese) (X tons). All these countries together held near 53% share of total imports. Hong Kong SAR (X tons) took a minor share of total imports.

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, Japan ($X), South Korea ($X) and China ($X) were the countries with the highest levels of imports in 2022, with a combined 91% share of total imports.

China, with a CAGR of +15.2%, saw the highest growth rate of the value of imports, in terms of 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

In 2022, the import price in Eastern Asia amounted to $X per ton, increasing by 13% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+1.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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