United Kingdom: Cheese Market 2024

Cheese Market Size in the UK

The UK cheese market expanded slightly to $X in 2021, with an increase of 2.2% against the previous year. Over the period under review, consumption, however, continues to indicate a modest increase. The growth pace was the most rapid in 2017 with an increase of 9.5%. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Cheese Production in the UK

In value terms, cheese production expanded significantly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 14%. Over the period under review, production reached the maximum level in 2021 and is likely to see gradual growth in the immediate term.

Cheese Exports

Exports from the UK

In 2021, shipments abroad of cheese decreased by -21.9% to X tons, falling for the second year in a row after eight years of growth. Over the period under review, total exports indicated a temperate increase from 2012 to 2021: its volume increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -27.5% against 2019 indices. The growth pace was the most rapid in 2015 when exports increased by 13%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, cheese exports declined to $X in 2021. The total export value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 17%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Ireland (X tons), Belgium (X tons) and France (X tons) were the main destinations of cheese exports from the UK, together accounting for 48% of total exports.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +16.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cheese exported from the UK were Ireland ($X), France ($X) and Belgium ($X), with a combined 44% share of total exports.

Belgium, with a CAGR of +16.2%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cheese export price stood at $X per ton in 2021, jumping by 18% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Denmark ($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 Sweden (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Cheese Imports

Imports into the UK

In 2021, overseas purchases of cheese decreased by -18.1% to X tons, falling for the second year in a row after three years of growth. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 10%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, cheese imports reduced to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 13% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Ireland (X tons), France (X tons) and Belgium (X tons) were the main suppliers of cheese imports to the UK, with a combined 50% share of total imports. Denmark, Germany, Italy, Poland, Cyprus, the Netherlands, Greece and Sweden lagged somewhat behind, together comprising a further 45%.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of +37.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cheese suppliers to the UK were Ireland ($X), France ($X) and Italy ($X), together accounting for 53% of total imports. Belgium, Denmark, Germany, Cyprus, the Netherlands, Poland, Greece and Sweden lagged somewhat behind, together comprising a further 41%.

In terms of the main suppliers, Cyprus, with a CAGR of +19.5%, saw the highest rates of growth with regard to the value of imports, 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, surging by 12% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+3.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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