World Cheese Market: Continued Upward Consumption Trend Forecasted with Market Volume of 30M Tons and Value of $208.3B by 2035

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The global cheese market is set to experience continued growth driven by increasing demand worldwide. Projections indicate a steady upward trend with a forecasted CAGR of +1.2% in volume and +2.8% in value terms from 2024 to 2035. By the end of 2035, the market is expected to reach a volume of 30M tons and a value of $208.3B (in nominal wholesale prices).

Market Forecast

Driven by increasing demand for cheese worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.2% for the period from 2024 to 2035, which is projected to bring the market volume to 30M tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.8% for the period from 2024 to 2035, which is projected to bring the market value to $208.3B (in nominal wholesale prices) by the end of 2035.

Consumption

World's Consumption of Cheese

In 2024, consumption of cheese increased by 0.8% to 26M tons for the first time since 2020, thus ending a three-year declining trend. The total consumption volume increased at an average annual rate of +1.7% over the period from 2013 to 2024; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2019 when the consumption volume increased by 9.7%. Over the period under review, global consumption hit record highs at 28M tons in 2020; however, from 2021 to 2024, consumption failed to regain momentum.

The global cheese market size stood at $153.9B in 2024, surging by 6.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.3% over the period from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at $183.1B in 2019; however, from 2020 to 2024, consumption remained at a lower figure.

Consumption By Country

The country with the largest volume of cheese consumption was the United States (6.3M tons), comprising approx. 24% of total volume. Moreover, cheese consumption in the United States exceeded the figures recorded by the second-largest consumer, Germany (2.5M tons), threefold. The third position in this ranking was taken by Italy (2M tons), with a 7.8% share.

From 2013 to 2024, the average annual rate of growth in terms of volume in the United States totaled +1.7%. The remaining consuming countries recorded the following average annual rates of consumption growth: Germany (+1.8% per year) and Italy (+5.7% per year).

In value terms, the United States ($35.8B) led the market, alone. The second position in the ranking was held by Italy ($16.4B). It was followed by Germany.

From 2013 to 2024, the average annual rate of growth in terms of value in the United States totaled +2.5%. In the other countries, the average annual rates were as follows: Italy (+9.5% per year) and Germany (+4.1% per year).

The countries with the highest levels of cheese per capita consumption in 2024 were Italy (35 kg per person), Germany (30 kg per person) and France (21 kg per person).

From 2013 to 2024, the biggest increases were recorded for Turkey (with a CAGR of +12.7%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World's Production of Cheese

In 2024, the amount of cheese produced worldwide reached 26M tons, standing approx. at 2023. The total output volume increased at an average annual rate of +1.7% over the period from 2013 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 9.7%. Over the period under review, global production hit record highs at 28M tons in 2020; however, from 2021 to 2024, production failed to regain momentum.

In value terms, cheese production reached $149B in 2024 estimated in export price. The total output value increased at an average annual rate of +2.5% from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 19% against the previous year. Global production peaked at $182.2B in 2019; however, from 2020 to 2024, production stood at a somewhat lower figure.

Production By Country

The United States (6.6M tons) remains the largest cheese producing country worldwide, comprising approx. 25% of total volume. Moreover, cheese production in the United States exceeded the figures recorded by the second-largest producer, Germany (3M tons), twofold. The third position in this ranking was held by Italy (2.1M tons), with a 7.9% share.

From 2013 to 2024, the average annual growth rate of volume in the United States amounted to +1.8%. In the other countries, the average annual rates were as follows: Germany (+1.7% per year) and Italy (+7.6% per year).

Imports

World's Imports of Cheese

In 2024, approx. 8.2M tons of cheese were imported worldwide; growing by 6.2% on the previous year's figure. The total import volume increased at an average annual rate of +2.7% over the period from 2013 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, cheese imports reached $46.2B in 2024. Overall, total imports indicated a tangible increase from 2013 to 2024: its value increased at an average annual rate of +3.4% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports increased by +71.2% against 2016 indices. The pace of growth appeared the most rapid in 2017 with an increase of 13%. Global imports peaked in 2024 and are expected to retain growth in the near future.

Imports By Country

In 2024, Germany (950K tons), followed by Italy (612K tons), the Netherlands (519K tons), France (507K tons), the UK (450K tons), Belgium (426K tons) and Spain (409K tons) represented the largest importers of cheese, together generating 47% of total imports. Japan (260K tons), the United States (215K tons) and Mexico (198K tons) followed a long way behind the leaders.

From 2013 to 2024, the biggest increases were recorded for Mexico (with a CAGR of +6.1%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest cheese importing markets worldwide were Germany ($6.3B), France ($3.3B) and Italy ($3.2B), together accounting for 28% of global imports. The UK, Belgium, the Netherlands, Spain, the United States, Japan and Mexico lagged somewhat behind, together accounting for a further 30%.

Among the main importing countries, Mexico, with a CAGR of +6.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

Cheese, other than blue-veined, grated, powdered or processed was the major imported product with an import of around 4.2M tons, which resulted at 52% of total imports. Unripened or uncured cheese (2.5M tons) ranks second in terms of the total imports with a 31% share, followed by processed cheese (excluding grated or powdered) (9.1%) and cheese of all kinds, grated or powdered (7.4%).

From 2013 to 2024, the biggest increases were recorded for cheese of all kinds, grated or powdered (with a CAGR of +6.4%), while purchases for the other products experienced more modest paces of growth.

In value terms, cheese, other than blue-veined, grated, powdered or processed ($26.6B) constitutes the largest type of cheese imported worldwide, comprising 58% of global imports. The second position in the ranking was held by unripened or uncured cheese ($11.2B), with a 24% share of global imports. It was followed by processed cheese (excluding grated or powdered), with an 8.4% share.

For cheese, other than blue-veined, grated, powdered or processed, imports expanded at an average annual rate of +2.4% over the period from 2013-2024. With regard to the other imported products, the following average annual rates of growth were recorded: unripened or uncured cheese (+6.2% per year) and processed cheese (excluding grated or powdered) (+1.7% per year).

Import Prices By Type

The average cheese import price stood at $5,645 per ton in 2024, therefore, remained relatively stable against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2022 an increase of 13%. Global import price peaked at $5,688 per ton in 2023, and then shrank in the following year.

There were significant differences in the average prices amongst the major imported products. In 2024, the product with the highest price was cheese, blue-veined (not grated, powdered or processed) ($8,941 per ton), while the price for unripened or uncured cheese ($4,457 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by uncured cheese (+1.1%), while the other products experienced more modest paces of growth.

Import Prices By Country

The average cheese import price stood at $5,645 per ton in 2024, stabilizing at the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 an increase of 13%. Over the period under review, average import prices reached the maximum at $5,688 per ton in 2023, and then fell slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($9,017 per ton), while the Netherlands ($4,538 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the UK (+1.8%), while the other global leaders experienced more modest paces of growth.

Exports

World's Exports of Cheese

For the twelfth year in a row, the global market recorded growth in shipments abroad of cheese, which increased by 4.1% to 8.4M tons in 2024. The total export volume increased at an average annual rate of +2.8% from 2013 to 2024; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 4.5%. Over the period under review, the global exports attained the maximum in 2024 and are likely to see gradual growth in the immediate term.

In value terms, cheese exports reached $48.2B in 2024. Overall, total exports indicated perceptible growth from 2013 to 2024: its value increased at an average annual rate of +3.8% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports increased by +81.6% against 2016 indices. The pace of growth appeared the most rapid in 2017 with an increase of 15%. The global exports peaked in 2024 and are likely to see steady growth in the near future.

Exports By Country

In 2024, Germany (1.4M tons) and the Netherlands (1.1M tons) represented the key exporters of cheesearound the world, together accounting for approx. 30% of total exports. France (691K tons) held an 8.2% share (based on physical terms) of total exports, which put it in second place, followed by Italy (7.8%), the United States (6.1%) and Denmark (5.6%). The following exporters - New Zealand (375K tons), Belarus (338K tons), Belgium (338K tons) and Ireland (296K tons) - each amounted to a 16% share of total exports.

From 2013 to 2024, the biggest increases were recorded for Belarus (with a CAGR of +8.3%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($7.1B), the Netherlands ($6.2B) and Italy ($6.1B) constituted the countries with the highest levels of exports in 2024, together comprising 40% of global exports.

In terms of the main exporting countries, Italy, with a CAGR of +7.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Cheese, other than blue-veined, grated, powdered or processed (4.2M tons) and unripened or uncured cheese (2.8M tons) dominates exports structure, together making up 83% of total exports. It was distantly followed by processed cheese (excluding grated or powdered) (671K tons) and cheese of all kinds, grated or powdered (668K tons), together comprising a 16% share of total exports.

From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the key exported products, was attained by cheese of all kinds, grated or powdered (with a CAGR of +8.5%), while the other products experienced more modest paces of growth.

In value terms, cheese, other than blue-veined, grated, powdered or processed ($27.1B) remains the largest type of cheese supplied worldwide, comprising 56% of global exports. The second position in the ranking was held by unripened or uncured cheese ($12.6B), with a 26% share of global exports. It was followed by cheese of all kinds, grated or powdered, with an 8.7% share.

From 2013 to 2024, the average annual rate of growth in terms of the value of cheese, other than blue-veined, grated, powdered or processed exports amounted to +2.6%. With regard to the other exported products, the following average annual rates of growth were recorded: unripened or uncured cheese (+6.5% per year) and cheese of all kinds, grated or powdered (+9.2% per year).

Export Prices By Type

In 2024, the average cheese export price amounted to $5,722 per ton, leveling off at the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 11%. Over the period under review, the average export prices attained the maximum in 2024 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major exported products. In 2024, the product with the highest price was cheese, blue-veined (not grated, powdered or processed) ($9,369 per ton), while the average price for exports of unripened or uncured cheese ($4,477 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by uncured cheese (+1.3%), while the other products experienced more modest paces of growth.

Export Prices By Country

In 2024, the average cheese export price amounted to $5,722 per ton, remaining constant against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 11%. Over the period under review, the average export prices reached the maximum in 2024 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($9,326 per ton), while Belarus ($4,059 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by France (+1.1%), while the other global leaders experienced more modest paces of growth.