Cheese Market in the United States
Market Overview
The U.S. cheese market stood at $
in , remaining stable 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). The market value increased at an average annual rate of +% over the period from 2007 to ; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $ in ; however, from to , consumption failed to regain momentum.
In value terms, cheese production reached $ in . The total output value increased at an average annual rate of +% over the period from 2007 to ; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2008 with an increase of % against the previous year. Cheese production peaked at $ in ; however, from to , production remained at a lower figure.
in , remaining stable 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). The market value increased at an average annual rate of +% over the period from 2007 to ; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $ in ; however, from to , consumption failed to regain momentum.In value terms, cheese production reached $
in . The total output value increased at an average annual rate of +% over the period from 2007 to ; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2008 with an increase of % against the previous year. Cheese production peaked at $ in ; however, from to , production remained at a lower figure.Consumption
In , consumption of cheese decreased by -% to tons, falling for the second consecutive year after two years of growth. The total consumption volume increased at an average annual rate of +% from 2007 to ; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of % against the previous year. Over the period under review, consumption reached the peak volume at tons in ; however, from to , consumption remained at a lower figure.
The revenue of the cheese market in the United States reached $ in , stabilizing at 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). The market value increased at an average annual rate of +% over the period from 2007 to ; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Cheese consumption peaked at $ in ; however, from to , consumption failed to regain momentum.
, consumption of cheese decreased by -% to tons, falling for the second consecutive year after two years of growth. The total consumption volume increased at an average annual rate of +% from 2007 to ; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of % against the previous year. Over the period under review, consumption reached the peak volume at tons in ; however, from to , consumption remained at a lower figure.The revenue of the cheese market in the United States reached $
in , stabilizing at 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). The market value increased at an average annual rate of +% over the period from 2007 to ; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Cheese consumption peaked at $ in ; however, from to , consumption failed to regain momentum.Market Forecast
Driven by increasing demand for cheese in the United States, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Over the period under review, imports of cheese in the United States were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for cheese.
Trade Balance
The United States remains a net exporter of cheese; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
. In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
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