Cheese - ASEAN | Statista Market Forecast

Cheese - ASEAN

ASEAN

Highlights

Revenue in the Cheese market amounts to US$1.85bn in 2024. The market is expected to grow annually by 6.72% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$32bn in 2024).
In relation to total population figures, per person revenues of US$2.68 are generated in 2024.
In the Cheese market, volume is expected to amount to 166.60m kg by 2029. The Cheese market is expected to show a volume growth of 3.3% in 2025.0.
The average volume per person in the Cheese market is expected to amount to 0.2kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Cheese Market in ASEAN has seen minimal growth due to factors like fluctuating milk prices and competition from other dairy products. However, the increasing demand for healthier food options and rising disposable incomes are expected to drive growth in the future.

Customer preferences: Consumers in the Cheese Market of the Dairy Products & Eggs Market within The Food market are increasingly shifting towards healthier and more sustainable options. This trend is driven by a growing awareness of the environmental impact of food production and a desire for more ethical and nutritious products. As a result, there is a rising demand for plant-based and organic cheese, as well as products with reduced fat and salt content. Furthermore, there is a growing interest in traditional and artisanal varieties, reflecting a desire for unique and authentic flavors.

Trends in the market: In ASEAN, the Cheese Market of the Dairy Products & Eggs Market within The Food market is experiencing a shift towards healthier and more diverse cheese options. Consumers are increasingly seeking out natural and organic options, as well as cheese made from alternative milks such as soy and almond. Additionally, there is a growing trend towards artisanal and gourmet cheeses, as well as a rise in demand for cheese-based snacks and products. This trajectory towards healthier and more diverse options is significant for industry stakeholders as it presents opportunities for product innovation and differentiation. However, it also poses challenges for traditional cheese producers who may need to adapt to changing consumer preferences. Furthermore, the increasing demand for cheese-based snacks and products has implications for the wider food industry, as companies look to incorporate cheese into a variety of products to meet consumer demand.

Local special circumstances: In ASEAN, the Cheese Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the region's diverse cultural preferences and dietary habits. For instance, in Malaysia and Indonesia, the consumption of dairy products is relatively low due to a large Muslim population. This has led to an increase in demand for halal-certified cheese products, while in Thailand and Vietnam, dairy consumption is more common, driving the growth of cheese consumption in these markets. Additionally, the varying levels of economic development and regulatory frameworks within ASEAN countries also play a role in shaping the competitive landscape of the Cheese Market. For example, in more developed countries like Singapore and Malaysia, there is a higher demand for premium and imported cheese products, while in less developed countries like Cambodia and Laos, locally produced cheese dominates the market.

Underlying macroeconomic factors: The Cheese Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. The rise in disposable income and changing dietary preferences have led to a significant increase in demand for cheese, especially in the ASEAN region. Additionally, favorable government initiatives and investments in the dairy industry have further propelled the market growth. However, fluctuations in milk prices, political instability, and trade barriers can hinder the market's growth in the region. Despite these challenges, the growing population and increasing urbanization in ASEAN countries continue to drive the demand for cheese, creating opportunities for market expansion.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.