Cheese and curd market in Asia

Earlier Report Observations

The Asian cheese and curd market began a strong expansion in 2018, with volume growth driven by rising regional demand and the expansion of local production capacity. This trend continued into 2019, pushing the market size to 5 884 thousand tons. The COVID-19 pandemic in 2020 disrupted supply chains and availability, yet underlying demand kept the market growing, albeit at a slower pace, to reach 5 968 thousand tons.

Industrial investment signaled continued confidence, as seen with Agropur's announcement of a new cheese production plant in 2021. Market consolidation through mergers and acquisitions, such as Sargento Foods' intent to acquire Baker Cheese Factory in 2022, reflected a maturing industry landscape. A significant driver in 2023 was the launch of innovative product lines, including plant-based alternatives like oat-based vegan cheese, which catered to shifting consumer preferences and helped lift the market volume to 6 343 thousand tons.

Looking ahead, regulatory and labeling changes in key markets like India, alongside the opening of new production facilities by players such as Britannia Bel Foods and strategic partnerships, are improving market access and distribution. Global factors including fluctuations in milk prices and a sustained consumer trend toward natural and plant-based products continue to shape production and consumption patterns across Asia.

Production cheese and curd in Asia

In kind, 2017-2020, K t

Top producers of cheese and curd, 2017-2020

World map of production of cheese and curd, 2017-2020

Cheese and curd production in Asia has been growing for three consecutive years. In 2020, Asia produced 4 901 K t of cheese and curd, representing a 2.0% increase compared to 2019. Over the period from 2017 to 2020, production rose by 40%, with a compound annual growth rate of 11.9%.

Annual dynamics of production in Asia in kind, 2017-2020, K t

In value, 2017-2020, B $ US

In 2020, the output of cheese and curd in Asia was valued at 101.6 B $ US, showing a controlled reduction of 5.0% compared to the previous year. From 2017 to 2020, production increased by 10.6%, with a compound annual growth rate of 3.4%. The minimum value was recorded in 2018 at 89.7 B $ US, while the maximum value occurred in 2019 at 106.9 B $ US. The largest increase was in 2019, with a 19.3% rise.

Annual dynamics of production in Asia in value, 2017-2020, B $ US

Exports cheese and curd from Asia

Exports in kind, K t

After a two-year decline, cheese and curd exports in Asia have rebounded. In 2020, exports reached 185 K t, up by 57.4% compared to 2019. Over the period from 2017 to 2020, exports decreased by 6.7%, with a compound annual growth rate of 2.3%. The minimum value was recorded in 2019 at 117 K t, which also saw the largest decline of 34.1%.

Annual dynamics of product's exports from Asia in kind, 2017-2020, K t

From 2017 to 2020, the partner structure for exports in kind remained fragmented. The United Kingdom accounted for 5.1% of exports in kind, Russia for 3.7%, and Sweden for 1.5%, together making up only 10.3% of total flows. No single country held a dominant share during this period.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Asia in kind, 2017-2020

Exports in value, M $ US

Asia's cheese and curd export volume has increased for the third consecutive year. In 2020, exports stood at 1 320 M $ US, which is 7.3% higher than the previous year. Between 2017 and 2020, exports grew by 16%, equating to an annualized rate of 5.1%.

Annual dynamics of product's exports from Asia in value, 2017-2020, M $ US

Over the period from 2017 to 2020, there was no single dominant market for cheese and curd exports in value terms. The United Kingdom accounted for 9.2% of exports, Sweden for 2.8%, and Russia for 2.7%, together representing only 14.7% of total exports. Many smaller partners each held modest individual shares.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Asia in value, 2017-2020

Imports cheese and curd to Asia

Imports in kind, K t

Cheese and curd import volumes in Asia have increased for the second consecutive year. In 2020, imports amounted to 1 252 K t, up by 4.6% year-over-year. Between 2017 and 2020, imports rose by 5%, equating to an annualized rate of 1.6%. The minimum value was recorded in 2018 at 1 156 K t, which also saw the largest decline of 3.0%.

Annual dynamics of product's imports to Asia in kind, 2017-2020, K t

From 2017 to 2020, the partner structure for imports in kind was balanced rather than concentrated. New Zealand accounted for 16.8% of imports in kind, Australia for 11.4%, and the United States for 11.3%, jointly representing 39.6% of total flows. Many other countries accounted for the remaining 60.4%.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Asia in kind, 2017-2020

Imports in value, M $ US

In 2020, Asia imported 5 774 M $ US worth of cheese and curd, marking a 4.1% increase year-over-year. Over the period from 2017 to 2020, imports increased by 6.8%, with a compound annual growth rate of 2.2%. The largest decline was recorded in 2019 at 0.6%.

Annual dynamics of product's imports to Asia in value, 2017-2020, M $ US

During 2017 to 2020, imports in value terms of cheese and curd to Asia were distributed across a large number of markets. New Zealand accounted for 16.8% of imports in value terms, the United States for 11.7%, and Australia for 11.7%, jointly accounting for only 40.2% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Asia in value, 2017-2020