Asia
Cheese market movement in Asia stayed uneven during H1’26. In Oceania, Australia’s cheese production rose 12% in March 2026 and increased 1.8% during July 2025 to March 2026, improving regional supply. However, cheddar cheese exports from Australia fell 17.8% during July 2025 to April 2026, limiting export availability for Asian buyers. Other cheese exports rose 1.9%, keeping supply somewhat balanced. China’s demand remained tied to foodservice, where around 70% of cheese consumption came from hotels, restaurants and institutional channels. Pizza chains, Western-style restaurants and bakery use supported demand, but abundant local milk supply and cautious retail consumption restricted sharper gains.
Europe
European cheese values improved mildly toward the end of H1’26. The main pressure came from higher upstream supply, as raw milk collection increased 4.0% during January to April 2026. Cheese production rose 3.8% during January to March 2026, adding volume into the market. Export demand helped offset this pressure, with cheese exports rising 3% in January to February 2026. Shipments to Japan increased 22%, Saudi Arabia rose 13%, and Australia moved up 4%, while exports to the U.S. fell 3%. This kept the market supported, but heavy milk availability limited stronger upward movement.
North America
North America showed a softer tone in H1’26 as supply expanded. U.S. total cheese output reached 1.27 billion pounds in April 2026, up 1.7% year on year. Italian-type cheese production rose 4.2%, while American-type cheese production declined 1.2%. Milk production also increased, supported by a larger herd and higher output per cow. Export demand offered support, with milk-equivalent fat-basis exports rising 35.8% in April, driven by higher cheese and butter exports. Still, stronger milk and cheese production kept the market from gaining sharply.
Analyst Insight
According to Procurement Resource, cheese prices are likely to remain rangebound. Strong foodservice and export demand may support the market, but higher milk supply and cautious retail demand can limit major upward movement.
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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.
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
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-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.
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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