New Zealand: Cheese And Curd Market 2024

Cheese And Curd Market Size in New Zealand

In 2022, the New Zealand cheese and curd market decreased by -18.9% to $X, falling for the fourth year in a row after two years of growth. In general, consumption continues to indicate a abrupt shrinkage. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Cheese And Curd Production in New Zealand

In value terms, cheese and curd production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 25% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Cheese And Curd Exports

Exports from New Zealand

In 2022, cheese and curd exports from New Zealand surged to X tons, increasing by 48% compared with the previous year's figure. Over the period under review, total exports indicated a prominent expansion from 2012 to 2022: its volume 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, exports increased by +65.4% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, cheese and curd exports surged to $X in 2022. In general, exports saw a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons), Japan (X tons) and Australia (X tons) were the main destinations of cheese and curd exports from New Zealand, together accounting for 55% of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +22.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Australia ($X) constituted the largest markets for cheese and curd exported from New Zealand worldwide, with a combined 55% share of total exports.

In terms of the main countries of destination, China, with a CAGR of +23.9%, saw 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, increasing by 15% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The pace of growth appeared the most rapid in 2017 when the average export price increased by 19%. The export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Trinidad and Tobago ($X per ton) and South Korea ($X per ton), while the average price for exports to Mexico ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Cheese And Curd Imports

Imports into New Zealand

In 2022, the amount of cheese and curd imported into New Zealand reduced to X tons, which is down by -8.9% compared with 2021. In general, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -15.5% against 2019 indices. The pace of growth was the most pronounced in 2016 when imports increased by 24% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, cheese and curd imports dropped modestly to $X in 2022. Over the period under review, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.5% 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 +12.1% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 22% against the previous year. Imports peaked at $X in 2021, and then dropped in the following year.

Imports by Country

Australia (X tons), the United States (X tons) and Denmark (X tons) were the main suppliers of cheese and curd imports to New Zealand, together comprising 70% of total imports. Ireland, Italy, the Netherlands, France, Germany and Bulgaria lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +185.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), the United States ($X) and Denmark ($X) were the largest cheese and curd suppliers to New Zealand, with a combined 64% share of total imports. Italy, France, Ireland, the Netherlands, Germany and Bulgaria lagged somewhat behind, together accounting for a further 26%.

Ireland, with a CAGR of +151.8%, 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, growing by 4.7% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 8.6% against the previous year. The import price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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