Cheese Market Overview in Azerbaijan
In value terms, cheese production surged to $ in estimated in export prices. Overall, production enjoyed a strong expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by % y-o-y. Cheese production peaked in and is expected to retain growth in the immediate term.
The revenue of the cheese market in Azerbaijan rose significantly to $ in , growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a prominent expansion from 2007 to : its value increased at an average annual rate of +% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2016 indices. The growth pace was the most rapid in 2017 when the market value increased by % year-to-year. Cheese consumption peaked in and is expected to retain growth in the near future.