Processed cheese (excluding grated or powdered) Market

The global market for processed cheese (excluding grated or powdered) is expected to see a positive trend in both volume and value from 2022 to 2030, with a forecasted CAGR of +1.2% and +3.1% respectively. China remains the largest consumer and producer of processed cheese, followed by the United States and India. Import and export trends show fluctuating patterns, with Germany, France, and the UK being some of the largest exporting countries. Overall, the market is projected to continue growing in the immediate term.

Market Forecast

Driven by increasing demand for processed cheese (excluding grated or powdered) worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +1.2% for the period from 2022 to 2030, which is projected to bring the market volume to 7.3M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.1% for the period from 2022 to 2030, which is projected to bring the market value to $41.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Processed cheese (excluding grated or powdered)

Global consumption of processed cheese (excluding grated or powdered) rose to 6.6M tons in 2022, increasing by 2.3% on 2021 figures. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak volume of 6.9M tons. From 2021 to 2022, the growth of the global consumption of remained at a somewhat lower figure.

The revenue of the market for processed cheese (excluding grated or powdered) worldwide expanded to $32.5B in 2022, growing by 1.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $32.8B. From 2021 to 2022, the growth of the global market failed to regain momentum.

Consumption By Country

China (1.1M tons) remains the largest processed cheese (excluding grated or powdered) consuming country worldwide, accounting for 16% of total volume. Moreover, consumption of processed cheese (excluding grated or powdered) in China exceeded the figures recorded by the second-largest consumer, the United States (439K tons), twofold. The third position in this ranking was taken by India (385K tons), with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +1.8%. The remaining consuming countries recorded the following average annual rates of consumption growth: the United States (-4.1% per year) and India (+3.2% per year).

In value terms, the largest processed cheese (excluding grated or powdered) markets worldwide were China ($4.5B), Japan ($2.3B) and India ($2.2B), together accounting for 28% of the global market.

Among the main consuming countries, India, with a CAGR of +6.5%, saw the highest rates of growth with regard to market size over the period under review, while powdered) for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of processed cheese (excluding grated or powdered) per capita consumption in 2022 were France (1.8 kg per person), Germany (1.6 kg per person) and Japan (1.5 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of powdered), amongst the main consuming countries, was attained by India (with a CAGR of +2.1%), while powdered) for the other global leaders experienced more modest paces of growth.

Production

World Production of Processed cheese (excluding grated or powdered)

In 2022, the amount of processed cheese (excluding grated or powdered) produced worldwide was estimated at 6.6M tons, picking up by 3.7% on the previous year's figure. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 18%. As a result, production attained the peak volume of 6.8M tons. From 2021 to 2022, global production of growth failed to regain momentum.

In value terms, production of processed cheese (excluding grated or powdered) rose modestly to $32.5B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the production volume increased by 11% against the previous year. Global production peaked in 2022 and is likely to see gradual growth in the immediate term.

Production By Country

China (1.1M tons) constituted the country with the largest volume of production of processed cheese (excluding grated or powdered), accounting for 16% of total volume. Moreover, production of processed cheese (excluding grated or powdered) in China exceeded the figures recorded by the second-largest producer, the United States (457K tons), twofold. The third position in this ranking was taken by India (386K tons), with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +1.7%. The remaining producing countries recorded the following average annual rates of production growth: the United States (-3.8% per year) and India (+3.2% per year).

Imports

World Imports of Processed cheese (excluding grated or powdered)

In 2022, after three years of growth, there was significant decline in overseas purchases of processed cheese (excluding grated or powdered), when their volume decreased by -11.8% to 652K tons. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 7.6% against the previous year. Global imports peaked at 739K tons in 2021, and then shrank in the following year.

In value terms, imports of processed cheese (excluding grated or powdered) shrank to $3.1B in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 14%. Over the period under review, global imports of reached the maximum at $3.3B in 2021, and then fell in the following year.

Imports By Country

In 2022, Belgium (56K tons), France (41K tons), the UK (41K tons), Italy (35K tons), Germany (31K tons), El Salvador (29K tons), Australia (21K tons), Oman (21K tons), China (18K tons), the United Arab Emirates (17K tons), Iraq (16K tons) and the Netherlands (14K tons) represented the key importer of processed cheese (excluding grated or powdered) in the world, achieving 52% of total import. Taiwan (Chinese) (13K tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (with a CAGR of +11.6%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the UK ($233M), France ($172M) and Germany ($149M) were the countries with the highest levels of imports in 2022, together accounting for 18% of global imports. Italy, Belgium, Oman, Australia, China, the United Arab Emirates, El Salvador, Taiwan (Chinese), the Netherlands and Iraq lagged somewhat behind, together comprising a further 32%.

Oman, with a CAGR of +12.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average import price for processed cheese (excluding grated or powdered) amounted to $4,705 per ton, growing by 5.2% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 5.5%. Over the period under review, average import prices reached the maximum at $5,122 per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($5,997 per ton), while Belgium ($2,143 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+2.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Processed cheese (excluding grated or powdered)

In 2022, overseas shipments of processed cheese (excluding grated or powdered) increased by 0.3% to 654K tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when exports increased by 9.2% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of processed cheese (excluding grated or powdered) amounted to $3.1B in 2022. The total export value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when exports increased by 16% against the previous year. Over the period under review, the global exports of reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports By Country

In 2022, Germany (113K tons), distantly followed by France (60K tons), Belgium (55K tons), Bahrain (53K tons), Austria (44K tons), Poland (43K tons), New Zealand (34K tons) and the United States (30K tons) were the largest exporters of processed cheese (excluding grated or powdered), together mixing up 66% of total exports. Nicaragua (24K tons), Saudi Arabia (19K tons), Egypt (17K tons), the Netherlands (17K tons) and Australia (14K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Saudi Arabia (with a CAGR of +13.6%), while the other global leaders experienced more modest paces of growth.

In value terms, Germany ($519M), France ($337M) and Bahrain ($294M) constituted the countries with the highest levels of exports in 2022, together comprising 37% of global exports. Belgium, Austria, New Zealand, Poland, the United States, the Netherlands, Saudi Arabia, Egypt, Australia and Nicaragua lagged somewhat behind, together accounting for a further 44%.

Nicaragua, with a CAGR of +13.6%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average export price for processed cheese (excluding grated or powdered) stood at $4,742 per ton in 2022, with an increase of 6.3% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The global export price peaked at $5,092 per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($5,869 per ton), while Nicaragua ($3,084 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+2.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform