Cheese Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Cheese in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Cheese Price Trend for the Second Half of 2023


In Asian countries, the excessive rise in the imports and domestic production of raw materials led to a slight decline in the price trend of cheese during the third and fourth quarters of 2023.

Cheese Price Chart

Cheese Price Trends

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The market also faced the adverse consequences of the weak demand typically from China and a rise in the market competitiveness due to the entry of Australian imports. The domestic traders were forced to lower their price quotations to remain relevant in the market.


The tight supply of milk and its related raw materials in the European countries caused a surge in the prices of cheese, though gradually during the third quarter but steeply during the fourth.

The rising concerns over the unfair distribution of milk and low rates of industrial produce along with the rise in consumer demand, benefited the price trend of cheese during the third and fourth quarter of 2023. The European Union also faced a lower number of imports from Asian countries over the disturbance in the Red Sea route due to the ongoing Israel-Hamas crisis.

North America

In the third and fourth quarters of 2023, the U.S. dairy industry saw mixed trends. While milk production decreased slightly compared to the previous year, the cheese production rates rebounded after a long period of stagnation. However, dairy exports faced challenges, with notable declines in cheese shipments leaving the U.S. ports as the overseas demand remained subdued, and with the drought-like conditions in the Panama Canal, the export of the commodity became much more difficult.

Analyst Insight

According to Procurement Resource, the price trend of Cheese is expected to oscillate in the upcoming quarters; although the demand for the product might be stable, but limited availability of raw materials is likely to cause fluctuations in the market dynamics.

Cheese Price Trend for the First Half of 2023


In India, milk and all its associated products, including Cheese, saw a rise in prices as the surge in vegetable and agricultural products because of the unseasonal and adverse weather conditions raised the cattle fodder prices. The lumpy skin disease epidemic in cattle also caused a reduction in milk yield. Rising global inflation also had its role to play in rising costs, especially as India is a high dairy-consuming country. Cheese prices remained on an upward trend throughout the discussed period.


European Union struggled the most with rising inflation among other world markets as the Russian energy supplies totally crumbled for Europe following Russia’s armed invasion of Ukraine. In Germany, the average cheese price rose from about 7750 Euro/MT to about 7850 Euro/MT within the first five months of the year 2023, only to marginally subside in June. Overall, the market performance was positive throughout the said period.

North America

Contrary to the other markets, cheese prices fell in the American market owing to the lowered end consumer demands. As lactose intolerance rose and the concept of veganism gained popularity, cheese prices reduced, averaging at around 4856 USD/MT (cheddar cheese) in June’23.

Analyst Insight

According to Procurement Resource, given the varying global cheese demand patterns, the prices are likely to fluctuate in the upcoming months as well, with higher projections in Asia and weak estimations from the West.

Cheese Price Trend for the Second Half of 2022


The cheese prices stayed on an inclined trajectory for most of H2 2022, only to be plateaued in the later Q4. Milk consumption has seen a rise in the country over the years. Dairy price inflation and a consistently high market demand remained the reason for a rise in cheese prices. The popularity of cheese-based food is also on the rise, especially among the urban population in the country. In the last two months of the year 2022, prices plateaued but remained high compared to previous years.


The European market had very mixed price trend for cheese in the said period. Gouda and EDAM cheeses almost duplicated their price trend, while cheddar and Emmental prices remained fluctuating until the end of 2022. Cheddar price trend almost flattened in the last quarter. Europe is a highly cheese-consuming region, as inflation hit hard in 2022, cheese prices also felt the impact. Overall, for the year 2022, the prices maintained a growth trajectory. There was a year-on-year rise in cheese prices in Europe.

North America

The North American market behaved no differently than the European market in terms of cheese prices. The prices rose initially and then flattened. Market demand remained the major determining factor as the USA is the biggest producer of cheese, the supplies were not an issue.

Analyst Insight

According to Procurement Resource, cheese prices are expected to exhibit mixed price patterns.  Given the rising inflation, the purchasing power of the consumer is contracting which will affect global prices. Regions with rising demands will gain momentum, while stagnancy is expected from markets with stagnant or sullen demands.

Cheese Price Trend For the First Half of 2022


The continuing Russian-Ukrainian geopolitical stance and the retaliatory sanctions by the west against Russia and Belarus created massive volatility in the global market. The dairy costs skyrocketed due to the rising costs of buying cattle, animal feed and farm labour. The record-breaking rise in milk prices has trickled down the other dairy products.

Amid the robust demand for butter, the available milk supplies were constantly diverted for butter production, causing the Cheese prices to inflate. The price of European Cheddar cheese went from 3384 Euro/MT in January to 4489 Euro/MT in June 2022. The cheese prices in Germany went from 4156 Euro/Mt in January to 5310 Euro/MT towards the end of June 2022.

North America

In the US, dairy prices increased by 11.8% Y-O-Y basis, whereas milk and cheese prices increased by 15.9% and 8.7% Y-O-Y basis, respectively. These inflated prices are causing customers to make tough choices.

With the available milk constantly being diverted for butter production, Canadian Cheese company Saputo raised their cheese prices multiple times in the year owing to capacity constraints. The cheese prices went from 3686 Euro/MT in January to 4562 Euro/MT in the US domestic market. The price trend of Cheese will continue to remain strong due to the constricted supply and robust end-user demand.

Procurement Resource provides latest prices of Cheese. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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Cheese is a well-known dairy product that is extracted from milk and is prepared in a wide range of flavours, textures, as well as forms by coagulation of the milk protein casein. Generally, it is made up of or composed of proteins and fats.

Product Details

Report Features Details
Product Name Cheese
Industrial Uses Processed food and fast food, Spread, Grilling and baking, Confectionery
Supplier Database Fonterra Co-operative Group, Arla Foods Amba, Danone S.A, Kerrygold USA, Yorkshire Cheese, Unilever PLC, Nestle SA
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Process

  • Production of Cheese via Coagulation Process

There are six essential steps in cheesemaking that are widely utilised. The production of cheese starts with milk, and these steps are milk acidification, coagulation, separation of curd along with whey, salting, shaping, and ripening the same to finally produce cheese.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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