Pakistan: Cheese Market 2024

Cheese Market Size in Pakistan

In 2021, the Pakistani cheese market decreased by -24.9% to $X, falling for the fourth consecutive year after six years of growth. Overall, consumption continues to indicate a slight curtailment. Cheese consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Cheese Exports

Exports from Pakistan

In 2021, overseas shipments of cheese decreased by -41.3% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, exports, however, showed a prominent increase. The pace of growth appeared the most rapid in 2016 when exports increased by 853% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, cheese exports declined sharply to $X in 2021. Over the period under review, exports, however, posted a buoyant expansion. The pace of growth was the most pronounced in 2016 with an increase of 802%. Over the period under review, the exports reached the maximum at $X in 2020, and then fell rapidly in the following year.

Exports by Country

The United States (X tons) was the main destination for cheese exports from Pakistan, accounting for a 55% share of total exports. Moreover, cheese exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. The third position in this ranking was held by Afghanistan (X tons), with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +32.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+27.2% per year) and Afghanistan (-6.0% per year).

In value terms, the United States ($X) remains the key foreign market for cheese exports from Pakistan, comprising 80% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an 11% share of total exports. It was followed by Afghanistan, with a 2% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +32.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+40.8% per year) and Afghanistan (-18.3% per year).

Export Prices by Country

The average cheese export price stood at $X per ton in 2021, surging by 26% against the previous year. Overall, the export price posted resilient growth. The pace of growth was the most pronounced in 2014 an increase of 39%. The export price peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Tanzania ($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 Arab Emirates (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Cheese Imports

Imports into Pakistan

In 2021, purchases abroad of cheese decreased by -28.8% to X tons, falling for the third year in a row after two years of growth. In general, imports recorded a slight setback. The most prominent rate of growth was recorded in 2014 when imports increased by 65% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, cheese imports fell sharply to $X in 2021. Overall, imports continue to indicate a slight setback. The most prominent rate of growth was recorded in 2014 when imports increased by 38% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Austria (X tons), Denmark (X tons) and Iran (X tons) were the main suppliers of cheese imports to Pakistan, with a combined 62% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Iran (with a CAGR of +13.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cheese suppliers to Pakistan were Austria ($X), Denmark ($X) and Saudi Arabia ($X), with a combined 61% share of total imports. These countries were followed by Iran, Turkey, New Zealand, the United Arab Emirates, the UK, France and Belgium, which together accounted for a further 30%.

Iran, with a CAGR of +15.7%, 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 import price stood at $X per ton in 2021, growing by 6.7% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 34% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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