South-Eastern Asia: Cheese And Curd Market 2024

Cheese And Curd Market Size in South-Eastern Asia

The Southeast Asian cheese and curd market reached $X in 2022, remaining relatively unchanged against the previous year. Overall, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Cheese And Curd Production in South-Eastern Asia

In value terms, cheese and curd production amounted to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the production volume increased by 171% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Cheese And Curd Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of cheese and curd increased by 21% to X tons, rising for the seventh year in a row after two years of decline. Overall, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 49% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, cheese and curd exports soared to $X in 2022. Over the period under review, exports saw a strong expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 35% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in years to come.

Exports by Country

In 2022, Singapore (X tons) and Indonesia (X tons) were the key exporters of cheese and curd in South-Eastern Asia, together accounting for approx. 68% of total exports. It was distantly followed by Thailand (X tons), the Philippines (X tons), Vietnam (X tons) and Malaysia (X tons), together creating a 31% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +22.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest cheese and curd supplying countries in South-Eastern Asia were Singapore ($X), Indonesia ($X) and Thailand ($X), with a combined 78% share of total exports. The Philippines, Malaysia and Vietnam lagged somewhat behind, together comprising a further 21%.

Vietnam, with a CAGR of +24.0%, saw the highest growth rate of the value of exports, in terms of 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 South-Eastern Asia stood at $X per ton in 2022, leveling off at the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 21% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

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 Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+8.6%), while the other leaders experienced more modest paces of growth.

Cheese And Curd Imports

Imports in South-Eastern Asia

In 2022, purchases abroad of cheese and curd increased by 20% to X tons, rising for the third consecutive year after two years of decline. Total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +7.0% 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 +27.8% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, cheese and curd imports skyrocketed to $X in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +8.1% 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 +118.4% against 2012 indices. The growth pace was the most rapid in 2017 when imports increased by 28% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Indonesia (X tons), the Philippines (X tons) and Malaysia (X tons) was the major importer of cheese and curd in South-Eastern Asia, creating 71% of total import. It was distantly followed by Thailand (X tons), Singapore (X tons) and Vietnam (X tons), together achieving a 27% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +12.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cheese and curd importing markets in South-Eastern Asia were Indonesia ($X), the Philippines ($X) and Malaysia ($X), with a combined 67% share of total imports. Singapore, Thailand and Vietnam lagged somewhat behind, together comprising a further 31%.

Vietnam, with a CAGR of +14.7%, saw the highest rates of growth with regard to the value of imports, among 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

The import price in South-Eastern Asia stood at $X per ton in 2022, increasing by 5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2017 when the import price increased by 7.1%. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Singapore ($X per ton) and Thailand ($X per ton), while Malaysia ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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