Vietnam: Cheese And Curd Market 2024

Cheese And Curd Market Size in Vietnam

The Vietnamese cheese and curd market was estimated at $X in 2022, approximately reflecting the previous year. In general, consumption saw a abrupt descent. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Cheese And Curd Production in Vietnam

In value terms, cheese and curd production stood at $X in 2022 estimated in export price. In general, production saw a abrupt setback. The growth pace was the most rapid in 2015 when the production volume increased by 42%. 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 Vietnam

After two years of decline, shipments abroad of cheese and curd increased by 7% to X tons in 2022. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 163%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, cheese and curd exports reached $X in 2022. Overall, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2018 when exports increased by 141%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons), Singapore (X tons) and Thailand (X tons) were the main destinations of cheese and curd exports from Vietnam, with a combined 76% share of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +164.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cheese and curd exported from Vietnam were China ($X), Singapore ($X) and Thailand ($X), together comprising 78% of total exports.

China, with a CAGR of +155.1%, saw the highest rates of growth with regard to 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 and curd export price stood at $X per ton in 2022, remaining stable against the previous year. Overall, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cheese and curd export price decreased by -1.7% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 46% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Myanmar ($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 Myanmar (+0.1%), while the prices for the other major destinations experienced a decline.

Cheese And Curd Imports

Imports into Vietnam

In 2022, the amount of cheese and curd imported into Vietnam expanded slightly to X tons, with an increase of 2.9% on 2021 figures. Over the period under review, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of 61% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, cheese and curd imports shrank modestly to $X in 2022. Overall, imports showed buoyant growth. The pace of growth was the most pronounced in 2013 when imports increased by 96%. Over the period under review, imports hit record highs at $X in 2021, and then dropped slightly in the following year.

Imports by Country

New Zealand (X tons), Germany (X tons) and France (X tons) were the main suppliers of cheese and curd imports to Vietnam, with a combined 49% share of total imports. Uruguay, Ireland, the United States, Poland, Argentina, Australia, the Netherlands, Egypt, the UK and Japan lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ireland (with a CAGR of +77.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cheese and curd suppliers to Vietnam were New Zealand ($X), Germany ($X) and France ($X), with a combined 49% share of total imports. Ireland, the United States, Uruguay, Japan, the Netherlands, Argentina, Poland, Australia, Egypt and the UK lagged somewhat behind, together comprising a further 35%.

Ireland, with a CAGR of +69.5%, recorded the highest rates of growth with regard to the value of imports, in terms of 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, shrinking by -3.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 25% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Uruguay ($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 UK (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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