Cheese and curd market in Eastern Asia

Earlier Report Observations

From 2018 to 2021, the cheese and curd market in Eastern Asia expanded steadily, with volume growing from 1 101.1 thousand tons to 1 396.2 thousand tons. This growth was propelled by the initial development of domestic production, as local brands like Yili, Mengniu, and Bright Dairy entered the market and invested in modern manufacturing equipment. The acquisition of Miaoke Landuo by Mengniu in 2020 created an industry leader with enhanced scale and product diversification, further driving market expansion.

The market's growth momentum slowed from 2022, with volume dipping slightly to 1 375.3 thousand tons before stabilizing at 1 377.5 thousand tons in 2023. This shift reflected saturation in the dominant cheese stick segment, which accounted for 80% of the market, coupled with logistical disruptions, rising raw material costs, intensified competition, and softer consumer demand.

By 2024, the industry entered a recovery phase, marked by a sharp profit rebound for major players. Key factors included a 26% drop in raw milk prices, which eased cost pressures, growing consumer preference for nutritious and functional cheese products, rapid expansion in the foodservice (B2B) sector, and an accelerated substitution of imported cheese with domestic alternatives.

Production cheese and curd in Eastern 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

Eastern Asia's cheese and curd production has grown for the third year in a row. In 2020, the region produced 737.0 K t of cheese and curd, marking a modest 8.9% increase from 2019. Looking at the period from 2017 to 2020, production rose by 31.5%, which translates to an average annual growth rate of 9.5%.

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

In value, 2017-2020, M $ US

Cheese and curd production in Eastern Asia has increased for the second consecutive year. In 2020, the output was valued at 4 584 M $ US, up by 25.4% compared to the previous year. From 2017 to 2020, production grew by 38.2%, equating to an annualized rate of 11.4%. The lowest value was recorded in 2018 at 3 273 M $ US, which saw a decline of 1.3%.

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

Exports cheese and curd from Eastern Asia

Exports in kind, K t

Exported cheese and curd volumes from Eastern Asia have risen for the second year in a row. In 2020, exports totaled 5.0 K t, showing a controlled advance of 7.3% from 2019. Over the period 2017-2020, exports increased by 19.6%, with a compound annual growth rate of 6.1%. The minimum volume was recorded in 2018 at 3.9 K t, which experienced a decline of 6.6%. In contrast, the largest increase occurred in 2019, with a jump of 19.4%.

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

From 2017 to 2020, the partner landscape for exports in kind was diverse. Asia, not elsewhere specified (13.8% of exports in kind), the Philippines (6.6% of exports in kind), and Vietnam (5.8% of exports in kind) together accounted for only 26.2% of total flows, while a substantial 73.8% was distributed among many other countries.

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

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

Exports in value, M $ US

Cheese and curd exports from Eastern Asia have increased for the second consecutive year. In 2020, the region exported 31 M $ US of cheese and curd, indicating a strong uptick of 23.5% compared to 2019. Over the period 2017-2020, exports grew by 25.7%, with a compound annual growth rate of 7.9%. The minimum value was recorded in 2018 at 23 M $ US, which saw a decline of 9.1%.

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

From 2017 to 2020, exports in value terms were spread across a wide set of partner countries. Asia, not elsewhere specified (17.4% of exports in value terms), Vietnam (6.6% of exports in value terms), and Thailand (5.1% of exports in value terms) jointly accounted for just 29.1% of total flows.

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

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

Imports cheese and curd to Eastern Asia

Imports in kind, K t

Eastern Asia's cheese and curd imports have grown for the third consecutive year. In 2020, imports reached 587.4 K t, up by 3.3% from 2019. Between 2017 and 2020, imports increased by 11.9%, equating to an annualized rate of 3.8%.

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

From 2017 to 2020, New Zealand (27.1% of imports in kind), Australia (20.1% of imports in kind), and the United States (18.6% of imports in kind) were the leading destinations in the country structure of imports in kind, with a combined share of 65.8% of total flows.

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

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

Imports in value, M $ US

The volume of cheese and curd imports in Eastern Asia has increased for the third consecutive year. In 2020, imports amounted to 2 608 M $ US, up by 3.9% compared to the previous year. Over the period 2017-2020, imports grew by 13%, with a compound annual growth rate of 4.2%.

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

From 2017 to 2020, New Zealand (25.7% of imports in value terms), Australia (18.7% of imports in value terms), and the United States (18.5% of imports in value terms) were the main suppliers of cheese and curd to Eastern Asia, together comprising 63.0% of total imports in value terms.

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

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