Global Cheese Market Sees Robust Production and Export Growth in 2024 Amid Economic Recovery
Source: The DairyNews
According to a recent report by the United States Department of Agriculture (USDA), the global cheese market is expected to experience significant growth in 2024, driven by increased production and exports across major dairy-producing regions.
The report highlights advancements in Australia, the European Union, New Zealand, and the United States, underlining a trend toward higher output and international trade.
In Australia, cheese production is projected to reach 435,000 tons in 2024, fueled by enhanced milk supplies and sustained profitability despite rising input costs. Australian dairy farmers continue to leverage technological investments and efficient practices to maintain high production levels. The domestic market is set to consume about 380,000 tons, reflecting a strong preference for local cheese varieties. The surplus, approximately 165,000 tons, is earmarked for export, with Japan, China, and various Southeast Asian countries as the primary destinations.
The European Union is also seeing a positive trajectory in cheese production, expected to rise by nearly 1 percent to 10.5 million tons. This increase is attributed to strong domestic and export demand, with Germany, France, Italy, the Netherlands, and Poland leading production. EU cheese exports are anticipated to grow by 1 percent to 1.4 million tons, driven by a robust demand for hard cheeses like Grana Padano and Parmigiano Reggiano in markets such as the UK and the United States. The resurgence of the hospitality and tourism sectors is poised to boost EU domestic consumption, which had stabilized in 2023 after a dip the previous year.
New Zealand's cheese production for 2024 is forecasted at 375,000 tons, thanks to recent investments in dairy processing facilities that have broadened the country's cheese offerings to include varieties like brie, blue cheese, and gouda. With a relatively modest domestic consumption of 40,000 tons, the bulk of New Zealand's production, around 350,000 tons, is expected to be exported to markets including China, Japan, and Australia.
In the United States, cheese exports through May have surged by 28 percent over the same period in 2023, with total exports for the year projected to increase by 8 percent to 466,000 tons. This growth is supported by the global economic recovery and competitive pricing in early 2024. However, the latter half of the year might see a slowdown in export momentum as U.S. cheese prices, which peaked at $2.00 per pound in June, are expected to impact competitiveness relative to other regions like Oceania.
In Australia, cheese production is projected to reach 435,000 tons in 2024, fueled by enhanced milk supplies and sustained profitability despite rising input costs. Australian dairy farmers continue to leverage technological investments and efficient practices to maintain high production levels. The domestic market is set to consume about 380,000 tons, reflecting a strong preference for local cheese varieties. The surplus, approximately 165,000 tons, is earmarked for export, with Japan, China, and various Southeast Asian countries as the primary destinations.
The European Union is also seeing a positive trajectory in cheese production, expected to rise by nearly 1 percent to 10.5 million tons. This increase is attributed to strong domestic and export demand, with Germany, France, Italy, the Netherlands, and Poland leading production. EU cheese exports are anticipated to grow by 1 percent to 1.4 million tons, driven by a robust demand for hard cheeses like Grana Padano and Parmigiano Reggiano in markets such as the UK and the United States. The resurgence of the hospitality and tourism sectors is poised to boost EU domestic consumption, which had stabilized in 2023 after a dip the previous year.
New Zealand's cheese production for 2024 is forecasted at 375,000 tons, thanks to recent investments in dairy processing facilities that have broadened the country's cheese offerings to include varieties like brie, blue cheese, and gouda. With a relatively modest domestic consumption of 40,000 tons, the bulk of New Zealand's production, around 350,000 tons, is expected to be exported to markets including China, Japan, and Australia.
In the United States, cheese exports through May have surged by 28 percent over the same period in 2023, with total exports for the year projected to increase by 8 percent to 466,000 tons. This growth is supported by the global economic recovery and competitive pricing in early 2024. However, the latter half of the year might see a slowdown in export momentum as U.S. cheese prices, which peaked at $2.00 per pound in June, are expected to impact competitiveness relative to other regions like Oceania.
