U.S.: Cheese Market 2024

Cheese Market Size in the U.S.

In 2021, after two years of growth, there was decline in the U.S. cheese market, when its value decreased by -2.2% to $X. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Cheese consumption peaked at $X in 2020, and then declined in the following year.

Cheese Production in the U.S.

In value terms, cheese production contracted modestly to $X in 2021. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 12%. Over the period under review, production attained the peak level at $X in 2020, and then contracted slightly in the following year.

Cheese Exports

Exports from the U.S.

In 2021, the amount of cheese exported from the United States rose sharply to X tons, picking up by 13% against 2020. The total export volume increased at an average annual rate of +5.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 21% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, cheese exports expanded sharply to $X in 2021. The total export value increased at an average annual rate of +5.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 26% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

Mexico (X tons), South Korea (X tons) and Japan (X tons) were the main destinations of cheese exports from the United States, with a combined 53% share of total exports. Australia, Canada, Chile, Panama, Guatemala, Taiwan (Chinese), China, the Dominican Republic, Saudi Arabia and the United Arab Emirates lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2021, the biggest increases were recorded for Chile (with a CAGR of +13.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), South Korea ($X) and Japan ($X) constituted the largest markets for cheese exported from the United States worldwide, with a combined 51% share of total exports. Australia, Canada, Chile, Panama, Taiwan (Chinese), China, Guatemala, the Dominican Republic, the United Arab Emirates and Saudi Arabia lagged somewhat behind, together comprising a further 30%.

Chile, with a CAGR of +14.8%, saw the highest growth rate of the value of exports, in terms of 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

In 2021, the average cheese export price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average export price increased by 7.9%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Saudi Arabia ($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 Canada (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Cheese Imports

Imports into the U.S.

In 2021, the amount of cheese imported into the United States expanded markedly to X tons, surging by 14% against the previous year. Over the period under review, total imports indicated noticeable growth from 2012 to 2021: its volume increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +64.2% against 2018 indices. The pace of growth was the most pronounced in 2019 with an increase of 58%. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, cheese imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), France (X tons) and the Netherlands (X tons) were the main suppliers of cheese imports to the United States, together accounting for 39% of total imports. These countries were followed by Ireland, Switzerland, Spain, Nicaragua, the UK, Germany, Greece, Australia, Lithuania and Canada, which together accounted for a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lithuania (with a CAGR of +33.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of cheese to the United States, comprising 28% of total imports. The second position in the ranking was taken by France ($X), with a 12% share of total imports. It was followed by Switzerland, with an 8% share.

From 2012 to 2021, the average annual growth rate of value from Italy totaled +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+0.2% per year) and Switzerland (+6.5% per year).

Import Prices by Country

The average cheese import price stood at $X per ton in 2021, surging by 9.5% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average import price increased by 29%. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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 ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :