Asia
The major factor influencing the price of cheese in Asia during 2025 was the changes in supply from the global market and the buying habits of the importers. There was a significant increase in milk production from the global market. Due to this increase in supply from the global market, the prices of butter, milk, and cheese decreased. Since supply was higher than demand, many countries in Asia decreased their large-scale purchasing of cheese and started relying on local production and previous stocks. Therefore, the prices of cheese in Asia decreased slightly.
Europe
In Europe, the prices of cheese were quite mixed in the year 2025. The global production of milk was quite high, which led to the fall of prices of dairy commodities, especially cheese, especially during the latter part of the year. The producers in Europe were faced with increased competition, especially in the export market, which included the United States. The EU-based exporters were in a slightly stronger position compared to the UK-based exporters, especially in terms of tariff rates. At the same time, the high production of dairy commodities in the EU and the surrounding countries contributed to the prices. Therefore, there was a gradual fall in the prices of cheese in Europe.
North America
In North America, cheese prices were affected by both trade policies and global supply growth. The uncertainty of trade policies for cheese exporters and retailers resulted in businesses trying to absorb the costs of higher prices for consumers. Nevertheless, businesses were anticipating that they could pass on these costs to consumers in the future, which could have a potential impact on food inflation. On the other hand, strong milk production in key exporting countries resulted in a strong global cheese supply, causing cheese prices to fall. The United States was a strong cheese producer and competitor, especially with the rise of domestic cheese production. Thus, cheese prices in North America were affected by both higher supply and trade policy uncertainty.
Analyst Insight
According to Procurement Resource, Cheese prices are anticipated to face downward pressure owing to strong milk production globally and a strong supply.
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Asia
In the second half of 2024, cheese prices experienced significant fluctuations across different regions, driven by various supply and demand factors. In Asia, the market saw a moderate increase in cheese prices due to growing demand in countries like Japan and South Korea, where cheese consumption continued to rise.
However, supply issues, especially from major producers in the US and Europe, meant that Asia had to rely on imports to meet its needs, pushing prices higher. The seasonal increase in demand for dairy products, coupled with logistical challenges, further pressured the market.
Europe
In Europe, cheese prices surged, particularly in the latter half of the year. The region faced a tightening supply of cheese, partly due to a decline in milk production and an outbreak of bluetongue in some key dairy areas. These supply disruptions, combined with a steady demand for cheese both domestically and from export markets, led to sharp price increases. Retail prices in the EU hit record highs, reflecting the high cost of production and reduced availability of cheese. The higher prices were especially noticeable in premium cheese varieties, which saw a significant rise in cost due to the scarcity of milk.
North America
In North America, particularly the US, cheese prices also saw a sharp uptick during the second half of 2024. Factors like a decrease in milk production, which had been down for consecutive months, contributed to lower cheese supplies. In addition, the anticipation of strong demand during the holiday season caused prices to climb further. The imbalance between lower production and higher demand pushed cheddar and other cheese prices up, with analysts noting that cheese markets in the US were tighter than expected. The rise in cheese prices was especially visible in the Midwest, a key cheese-producing region.
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.
Processed food and fast food, Spread, Grilling and baking, Confectionery
Fonterra Co-operative Group, Arla Foods Amba, Danone S.A, Kerrygold USA, Yorkshire Cheese, Unilever PLC, Nestle SA
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
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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.
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