Cheese consumption in the Philippines for 2023 stood at 52.0 thousand metric tons. The forecasted data for 2024 is 54.0 thousand metric tons, showing an increase of 3.8% from the previous year. By 2025, consumption is expected to hit 56.0 thousand metric tons, marking a year-on-year increase of 3.7%. In 2026, it will grow by 3.6% to reach 58.0 thousand metric tons. For 2027, the projection is 60.0 thousand metric tons, reflecting a 3.4% increase. Finally, by 2028, cheese consumption is anticipated to rise to 63.0 thousand metric tons, with a year-on-year increase of 5%. The Compound Annual Growth Rate (CAGR) over the 5-year period from 2024 to 2028 is expected to be approximately 4.2%.
Trends to watch for:
- Growing urbanization and westernized eating habits driving higher cheese consumption.
- Potential impacts of economic fluctuations on consumer spending power.
- Increased introduction of diverse cheese varieties in the market.
- Government policies and trade regulations affecting cheese import and export dynamics.
