Thailand: Cheese And Curd Market 2024

Cheese And Curd Market Size in Thailand

The Thai cheese and curd market rose notably to $X in 2022, picking up by 12% against the previous year. Overall, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +25.4% against 2019 indices. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Cheese And Curd Production in Thailand

In value terms, cheese and curd production totaled $X in 2022 estimated in export price. In general, production saw a noticeable decrease. The pace of growth was the most pronounced in 2015 when the production volume increased by 32%. 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 from Thailand

In 2022, cheese and curd exports from Thailand skyrocketed to X tons, picking up by 45% against the previous year's figure. Over the period under review, exports showed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, cheese and curd exports skyrocketed to $X in 2022. Overall, exports posted significant growth. The growth pace was the most rapid in 2015 with an increase of 55%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

Cambodia (X tons) was the main destination for cheese and curd exports from Thailand, with a 62% share of total exports. Moreover, cheese and curd exports to Cambodia exceeded the volume sent to the second major destination, China (X tons), sevenfold. The third position in this ranking was held by Japan (X tons), with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cambodia totaled +25.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+100.8% per year) and Japan (+138.3% per year).

In value terms, Cambodia ($X) remains the key foreign market for cheese and curd exports from Thailand, comprising 58% of total exports. The second position in the ranking was held by Japan ($X), with a 12% share of total exports. It was followed by China, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value to Cambodia amounted to +24.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+153.6% per year) and China (+101.1% per year).

Export Prices by Country

The average cheese and curd export price stood at $X per ton in 2022, waning by -14.9% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average export price increased by 20%. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Singapore ($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 Japan (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Cheese And Curd Imports

Imports into Thailand

For the third consecutive year, Thailand recorded growth in purchases abroad of cheese and curd, which increased by 6.9% to X tons in 2022. Over the period under review, imports showed a prominent increase. The pace of growth appeared the most rapid in 2016 when imports increased by 27% against the previous year. 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. Overall, imports continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2014 with an increase of 22%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

New Zealand (X tons), Australia (X tons) and the United States (X tons) were the main suppliers of cheese and curd imports to Thailand, with a combined 77% share of total imports. Belgium, Italy, Germany and France lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +19.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), Australia ($X) and the United States ($X) appeared to be the largest cheese and curd suppliers to Thailand, together accounting for 73% of total imports. Italy, France, Belgium and Germany lagged somewhat behind, together comprising a further 17%.

Belgium, with a CAGR of +18.4%, saw the highest growth rate of 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

In 2022, the average cheese and curd import price amounted to $X per ton, picking up by 9.5% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 13% against the previous year. Over the period under review, average import prices attained the maximum 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 France ($X per ton), while the price for Belgium ($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 (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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