Asia-Pacific: Cheese Market 2024

Cheese Market Size in Asia-Pacific

The Asia-Pacific cheese market stood at $X in 2022, remaining stable against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2022 and is likely to see steady growth in the immediate term.

Cheese Production in Asia-Pacific

In value terms, cheese production shrank slightly to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of X%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

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Cheese Exports

Exports in Asia-Pacific

In 2022, the amount of cheese exported in Asia-Pacific shrank to X tons, reducing by X% on 2021. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, cheese exports expanded sharply to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

Exports by Country

New Zealand was the main exporter of cheese in Asia-Pacific, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2022. It was distantly followed by Australia (X tons), committing a X% share of total exports. India (X tons) followed a long way behind the leaders.

New Zealand experienced a relatively flat trend pattern with regard to volume of exports of cheese. At the same time, India (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Australia (X%) illustrated a downward trend over the same period. New Zealand (X p.p.) significantly strengthened its position in terms of the total exports, while Australia saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, New Zealand ($X) remains the largest cheese supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by Australia ($X), with a X% share of total exports.

In New Zealand, cheese exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Australia (X% per year) and India (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (X%), while the other leaders experienced more modest paces of growth.

Cheese Imports

Imports in Asia-Pacific

After three years of growth, purchases abroad of cheese decreased by X% to X tons in 2022. Total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2021, and then dropped modestly in the following year.

In value terms, cheese imports stood at $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Japan (X tons), distantly followed by South Korea (X tons), China (X tons) and Australia (X tons) represented the key importers of cheese, together generating X% of total imports. The Philippines (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons), Indonesia (X tons), Thailand (X tons), Singapore (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

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

In value terms, Japan ($X), South Korea ($X) and China ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Singapore ($X per ton) and Hong Kong SAR ($X per ton), while Japan ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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