Halloumi Cheese Market Size to Reach $ 979.4 Million By 2030: Straits Research

New York, United States, Oct. 16, 2023 (GLOBE NEWSWIRE) — The tint of halloumi cheese varies from white based on its components and manufacturing process. Although typically grilled, fried, or grated over hot dishes, this cheese can be consumed raw. According to Straits Research, “The global halloumi cheese market size is expected to reach USD 979.4 million by 2030, growing at a CAGR of 10.0% during the forecast period (2022–2030).”

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Key Drivers

In recent years, the worldwide market for food and drinks has expanded significantly due to technological developments in the food system, logistics advancements, rising affordability levels, and growing global trade. Moreover, the food and beverage industry has continually adapted to satisfy the needs of its customers. In addition, the demand for packaged and convenience foods has multiplied due to customers’ preference for inexpensive, ready-to-eat food.  People have been encouraged to consume more meat and dairy products due to the trend toward protein-rich diets.

Growth Opportunities

In the early 2000s, organic food became increasingly popular when people first connected nutrition, health, and the environment. Organic food and beverages entered the market at the beginning of the twenty-first century in response to growing consumer demand. They addressed concerns regarding the adverse effects of commercially packaged food on one’s health. The availability of organic food in prepackaged form assuaged customers’ health concerns, creating opportunities for expansion in the food and beverage industry. As consumer interest in organic food continues to develop, it is projected that the cheese industry will create profitable opportunities.

Regional Analysis

Europe produced the highest revenue in the global halloumi cheese market. An increase in research and development expenditures spurs the region’s expansion of the halloumi cheese industry. Due to its greater use in commonplace dishes, the demand for halloumi cheese has surged on the European market.

Moreover, numerous market leaders have earned a large share of this regional market through product innovation and technological advancements. The LAMEA region is expected to have significant development potential due to the region’s increasing demand for dairy products. Latin America and the Middle East fuel the growth of the LAMEA halloumi cheese market. This results from a larger youth population, a rise in per capita income, and fast-food consumption.

The Asia-Pacific area is the quickest growing market for halloumi cheese due to infrastructure upgrades and the ease of launching new businesses. In addition, an upsurge in disposable income and the easy availability of packaged food & beverages due to the use of e-commerce has led to an increase in the adoption of premium products, hence increasing the growth of the halloumi cheese industry. North America is a developed region with well-established distribution networks that facilitate the sale of vast quantities of food and beverages. Due to increased cheese consumption in food service outlets, the halloumi cheese industry in North America has undergone tremendous growth.

Key Highlights

• The food service category is the most significant contributor and is expected to grow at a CAGR of 10.2% during the forecast period.
• Based on type, the global halloumi cheese market is divided into Flavored and Unflavored. The unflavored segment is the major contributor and is expected to grow at a CAGR of 9.8% during the forecast period.
• Based on nature, the global halloumi cheese market is divided into Organic and Conventional. The conventional segment contributed the most and is expected to grow at a CAGR of 9.8% during the forecast period.
• The global fingerprint sensor market is primarily classified into four regions, namely North America, Europe, Asia-Pacific, and LAMEA. Europe is the largest shareholder and is expected to grow at a CAGR of 9.8% during the forecast period.

Competitive Players

The global halloumi cheese market’s major key players in the – Almarai Company, Arla Foods Amba, Cowboy Farm Dairy Industries Ltd, Galaktokomio A.D.S Dafni Ltd., Hadjipieris Ltd, Lefkonitziatis Dairy Products Ltd., Nordex Food A/S, Petrou Bros Dairy Products Ltd, Sussex High Weald Dairy Ltd, Zita Dairies Ltd.

Market News

• In January 2022, with plans to convert to fossil-free trucks, green electricity, and low-energy solutions, farmer-owned dairy group Arla Foods is scaling up its climate target for operations from 30 to 63 %.
• In February 2022, ALAMBRA Dairy continued to move forward in response to modern needs and consumer trends and brought PlantON vegan yogurts to the Cypriot market.
• In March 2022, European dairy cooperative Arla Foods sees excellent potential in Bangladesh and has big plans for what is already its biggest market in Southeast Asia.
• In April 2022, Arla Foods and DSM started a large-scale on-farm pilot program to reduce methane emissions from dairy cows by 30 %.

Global Halloumi Cheese Market: Segmentation

By Type

By End-User

By Nature

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA

Get Detailed Market Segmentation @ https://straitsresearch.com/report/halloumi-cheese-market/segmentation

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