India: Cheese And Curd Market 2024

Cheese And Curd Market Size in India

The Indian cheese and curd market rose to $X in 2022, increasing by 1.9% against the previous year. Over the period under review, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 -1.9% against 2020 indices. Cheese and curd consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Cheese And Curd Production in India

In value terms, cheese and curd production expanded markedly to $X in 2022 estimated in export price. In general, production saw a strong expansion. The growth pace was the most rapid in 2020 when the production volume increased by 23%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Cheese And Curd Exports

Exports from India

In 2022, approx. X tons of cheese and curd were exported from India; jumping by 23% on the year before. In general, exports saw a resilient increase. The pace of growth was the most pronounced in 2014 with an increase of 33%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the near future.

In value terms, cheese and curd exports soared to $X in 2022. Overall, exports saw strong growth. The most prominent rate of growth was recorded in 2014 with an increase of 35% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

The United Arab Emirates (X tons), the United States (X tons) and Singapore (X tons) were the main destinations of cheese and curd exports from India, with a combined 54% share of total exports. Bhutan, Saudi Arabia, Bahrain, Kuwait, Oman, Nepal, Qatar, Sri Lanka, the Philippines and Hong Kong SAR lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2022, the biggest increases were recorded for Bhutan (with a CAGR of +48.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cheese and curd exported from India were the United Arab Emirates ($X), the United States ($X) and Bhutan ($X), together comprising 55% of total exports.

Among the main countries of destination, Bhutan, with a CAGR of +58.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cheese and curd export price stood at $X per ton in 2022, surging by 2.2% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2017 an increase of 9.7%. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bhutan ($X per ton), while the average price for exports to Singapore ($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 (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Cheese And Curd Imports

Imports into India

In 2022, purchases abroad of cheese and curd increased by 45% to X tons, rising for the second year in a row after two years of decline. In general, total imports indicated resilient growth from 2012 to 2022: its volume 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 +110.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 45%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, cheese and curd imports soared to $X in 2022. Over the period under review, total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% 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 +137.7% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Denmark (X tons) and the UK (X tons) were the main suppliers of cheese and curd imports to India, with a combined 52% share of total imports. Estonia, the Netherlands, Vietnam, Germany and France lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Estonia (with a CAGR of +333.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the UK ($X) and Denmark ($X) constituted the largest cheese and curd suppliers to India, with a combined 52% share of total imports. The Netherlands, Estonia, Vietnam, France and Germany lagged somewhat behind, together comprising a further 37%.

Estonia, with a CAGR of +343.0%, saw the highest growth rate of 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

In 2022, the average cheese and curd import price amounted to $X per ton, increasing by 7.3% against the previous year. Overall, the import price, however, showed a mild reduction. The most prominent rate of growth was recorded in 2017 an increase of 14%. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 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 Netherlands ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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