China remains a growth engine for global cheese trade

Published 2024년 1월 30일

Tridge summary

Rabobank forecasts a significant increase in cheese consumption in China by 2030, reaching 495,000 tons, with up to 320,000 tons needing to be imported. This surge is attributed to the rise in fast food outlets, bakeries, tea shops, and innovative products. The demand for cheese in China has already seen a growth of nearly 200,000 tons from 2012 to 2022. Cheese sales, including mozzarella, cream cheese, and cheese slices, are projected to grow annually by 10.3% from 2023 to 2030. New Zealand is currently the leading cheese exporter to China, followed by Australia, the US, Italy, Denmark, and France.

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

Original content

Rabobank expects Chinese cheese consumption to grow to 495,000 tons in 2030. Of this, between 270,000 and 320,000 will have to be imported. The bank sees sufficient opportunities for international cheese trading companies to respond to this. So far, the Netherlands is not in the list of largest cheese exporters to China. Cheese consumption per capita in China is 0.2 kilos. That is much lower than in neighboring countries such as Japan (2.5 kilos) and South Korea (3.7 kilos). This combined with the growth in the number of fast food restaurants, bakeries, tea shops and product innovations provides the basis for a gradual increase in demand for cheese in China, according to Michelle Huang, dairy analyst at Rabobank. Growing demand for cheese in China According to the new report, China's demand for cheese grew by almost 200,000 tons to 254,000 tons between 2012 and 2022. The bank expects an average annual growth rate (CAGR) of 9.1% for the coming years until 2030. Read more below the ...

Source: Boerderij