South-Eastern Asia: Cheese Market 2024

Cheese Market Size in South-Eastern Asia

The Southeast Asian cheese market expanded slightly to $X in 2022, increasing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Cheese Production in South-Eastern Asia

In value terms, cheese production declined to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a tangible expansion. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Cheese Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of cheese increased by X% to X tons, rising for the seventh consecutive year after two years of decline. In general, exports saw prominent growth. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, cheese exports skyrocketed to $X in 2022. Over the period under review, exports recorded strong growth. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Singapore (X tons), Malaysia (X tons) and Indonesia (X tons) represented roughly X% of total exports in 2022. Vietnam (X tons) held the next position in the ranking, followed by Thailand (X tons) and the Philippines (X tons). All these countries together held near X% share of total exports.

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

In value terms, Singapore ($X), Malaysia ($X) and Indonesia ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Vietnam, Thailand and the Philippines lagged somewhat behind, together comprising a further X%.

Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, waning by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($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 Philippines (X%), while the other leaders experienced more modest paces of growth.

Cheese Imports

Imports in South-Eastern Asia

For the third consecutive year, South-Eastern Asia recorded growth in overseas purchases of cheese, which increased by X% to X tons in 2022. Total imports indicated a prominent expansion 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 2019 indices. The growth pace was the most rapid in 2017 when imports increased by X%. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, cheese imports soared to $X in 2022. Over the period under review, imports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

Imports by Country

The purchases of the three major importers of cheese, namely the Philippines, Malaysia and Indonesia, represented more than two-thirds of total import. Thailand (X tons) took the next position in the ranking, followed by Singapore (X tons) and Vietnam (X tons). All these countries together took near X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Malaysia ($X) and Indonesia ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of total imports. Singapore, Thailand and Vietnam lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained 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 ($X per ton) and Vietnam ($X per ton), while Malaysia ($X per ton) and Indonesia ($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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