China is expected to be a growth driver for global cheese trade

Published 2024년 2월 7일

Tridge summary

Global cheese consumption is set to hit a record 21.6 million tonnes by the end of the year, driven significantly by increasing demand in China. Factors such as rising disposable income, popularity of Western-style restaurants, and new uses for cream cheese and mozzarella are expected to boost China's per capita cheese consumption from the current 0.2 kg. Rabobank forecasts a 9.1% CAGR in cheese demand from 2023 to 2030, reaching 495,000 tonnes in 2030. However, China's domestic cheese production may not meet this demand, presenting opportunities for international cheese traders.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

To continue reading the article, log in with your account or register on MilkPoint. Get access to exclusive content! Global demand for cheese is on the rise. In fact, global cheese consumption is expected to reach a new record of 21.6 million tonnes by the end of this year. And according to a recent Rabobank report, China could be a growth engine for the ongoing global cheese trade. Currently, China's annual per capita cheese consumption is 0.2 kg, or less than half a kilo. However, this number is projected to grow gradually over the next few years, with the Chinese cheese market showing a healthy flow of investment activity. "Low per capita consumption, the expansion of quick-service restaurants, bakeries and tea shops, and product innovation provide a platform for a gradual increase in Chinese demand for cheese," said Michelle Huang, dairy analyst at Rabobank. In its report, Rabobank predicts that cheese demand will ...

Source: Milkpoint