IndexBox, Inc. has just published a new report “World – Cheese – Market Analysis, Forecast, Size, Trends and Insights“. Here is a summary of the report’s key findings.
The imports amounted to 6.8M tonnes in 2017, coming up by 4% against the previous year level. The total import volume increased at an average annual rate of +3.5% over the period from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations over the period under review. The most prominent rate of growth was recorded in 2010, when it surged by 8% year-to-year. Global import peaked in 2017, and are likely to see steady growth in the near future.
In value terms, cheese imports totaled $28B in 2017. The total import value increased at an average annual rate of +2.6% from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations throughout the analyzed period. Global import peaked of $33B in 2014; however, from 2015 to 2017, it failed to regain its strength.
Cheese Imports By Country
In 2017, Germany (810K tonnes), followed by Italy (526K tonnes), the UK (498K tonnes), the Netherlands (390K tonnes), France (356K tonnes), and Belgium (311K tonnes) represented the main importers of cheese, together committing 43% of total imports. Spain (271K tonnes), Japan (261K tonnes), Russia (215K tonnes), Saudi Arabia (181K tonnes), Sweden (134K tonnes), and Mexico (132K tonnes) took the slight share of total imports.
From 2007 to 2017, the most notable growth rate of imports, among the main importing countries, was attained by the Netherlands (+7.7% per year), while the other global leaders experienced more modest paces of growth.
In value terms, Germany ($3.8B) constitutes the largest market for imported cheese worldwide, making up 13% of global imports. The second position in the ranking was occupied by the UK ($1.8B), with the share of 6% of global imports. It was followed by France, with the share of 6%.
From 2007 to 2017, the average annual rate of growth in terms of value of cheese imports in Germany stood at +0.5%. The remaining importing countries recorded the following average annual rates: the UK (-0.6% per year) and France (+4.1% per year).
Cheese Import Prices By Country
In 2017, the average import price for cheese amounted to $4,132 per tonne, stabilizing at the previous year level. Overall, cheese import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008, when import increased by 20% year-to-year. In that year, average import price for cheese reached its maximum level of $5,401 per tonne. From 2009 to 2017, growth of average import price for cheese stood at a somewhat lower level.
There were significant differences in the average import prices amongst major importing countries. In 2017, the country with the highest import price was France ($5,022 per tonne), while Italy ($3,215 per tonne) was among the lowest.
From 2007 to 2017, the most notable growth rate of import prices was attained by Saudi Arabia (+2.3% per year), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global cheese market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
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