The new report by Expert Market Research titled, ‘Global Halloumi Cheese Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global halloumi cheese market, assessing the market based on its segments like nature, types, end-uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 454.7 Million
- Forecast CAGR (2023-2028): 10.5%
- Forecast Market Size (2028): USD 827.7 Million
The halloumi cheese industry is being propelled by the increased consumption of halloumi cheese due to its easy availability through online platforms and the globalisation of culinary recipes during the historical period. The halloumi cheese industry is being driven by the intake of halloumi cheese by people across the world as a vegetarian alternative to meat as it remains stiff even after grilling or frying.
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The growing working class and their rising inclination towards snacks made of natural ingredients, such as halloumi cheese, are also fuelling the market growth. The expanding e-commerce is boosting the import and export of halloumi cheese across borders, thereby bolstering the market growth. The plant-based innovations of halloumi cheeses are also leading to the incremental development of the industry. All these factors are significantly catalysing the growth of the halloumi cheese industry.
Industry Definition and Major Segments
The halloumi cheese has its origin in Cyprus and is famous throughout the Eastern Mediterranean region. It is a semi-hard, unripen cheese prepared from mixing the milk of indigenous goats and sheep. The halloumi cheese has a higher-than-typical melting point, making it an excellent choice for grilling or frying.
The halloumi cheese industry, by nature, is divided into
- Organic
- Conventional
Based on type, the market is segmented into:
- Flavoured
- Unflavoured
On the basis of its end use, the market is classified into:
- Food Service
- Retail
The regional markets for halloumi cheese include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Market Trends
In April 2021, the European Commission registered Halloumi cheese as a Protected Designation of Origin, thereby curbing the imitation and misuse of halloumi cheese across the European Union. This move benefits the producers in the Turkish Cypriot community and strengthens the exports of halloumi cheese, hence propelling the industry growth.
The efforts taken by several industry players in promoting their halloumi cheese products in the market through advertisements and brand endorsements is also playing a critical in the expansion of the halloumi cheese industry. Further, the research by European scientists to secure the future of halloumi cheeses by boosting milk yields from indigenous breeds of goats and sheep in Cyprus is expected to augment the market in the forecast period.
Key Market Players
The major players in the market are Almarai Company, Arla Foods amba, Nordex Food A/S, Petrou Bros Dairy Products Ltd., Lefkonitziatis Dairy Products Ltd, Galaktokomio A.D.S Dafni Ltd, and Zita Dairies Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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