Malaysia: Cheese Market 2022

Cheese Market Size in Malaysia

For the third year in a row, the Malaysian cheese market recorded growth in sales value, which increased by X% to $X in 2021. Overall, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +X% against 2016 indices. Over the period under review, the market reached the maximum level in 2021 and is likely to see steady growth in the near future.

Cheese Exports

Exports from Malaysia

In 2021, shipments abroad of cheese increased by X% to X tons, rising for the third consecutive year after three years of decline. In general, exports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, cheese exports surged to $X in 2021. Over the period under review, exports recorded a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore (X tons), Brunei Darussalam (X tons) and China (X tons) were the main destinations of cheese exports from Malaysia, together accounting for X% of total exports.

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

In value terms, Brunei Darussalam ($X), Singapore ($X) and China ($X) appeared to be the largest markets for cheese exported from Malaysia worldwide, together accounting for X% of total exports.

China, with a CAGR of +X%, saw the highest rates of growth with regard to 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, picking up by X% against the previous year. Over the last nine-year period, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2016 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Brunei Darussalam ($X per ton), while the average price for exports to Turkey ($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 Cambodia (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Cheese Imports

Imports into Malaysia

In 2021, approx. X tons of cheese were imported into Malaysia; surging by less than X% on the previous year's figure. Overall, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2016 indices. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, cheese imports reached $X in 2021. In general, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2017 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

New Zealand (X tons), Australia (X tons) and the United States (X tons) were the main suppliers of cheese imports to Malaysia, together accounting for X% of total imports. These countries were followed by Singapore, Denmark, Ireland, Germany, the UK and Indonesia, which together accounted for a further X 2012 to 2021, the biggest increases were in Indonesia (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), New Zealand ($X) and the United States ($X) constituted the largest cheese suppliers to Malaysia, together comprising X% of total imports. Singapore, Denmark, Germany, Ireland, the UK and Indonesia lagged somewhat behind, together accounting for a further X, with a CAGR of +X%, 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 2021, the average cheese import price amounted to $X per ton, growing by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of origin: the country with the highest price was Germany ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Market Intelligence Platform

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