The Global Halloumi Cheese Market size was valued at USD 415.4 million in 2021. It is expected to reach USD 979.4 million by 2030, growing at a CAGR of 10.0% during the forecast period (2022–2030). Halloumi cheese is a semi-firm cheese, and its color can range from white to other colors based on its ingredients and production process. This cheese can be eaten raw, but it is more commonly grilled, fried, or grated over hot food. Historically, halloumi cheese was manufactured in the Cypriot region between the Middle East and Europe, known as Cyprus, and is typically produced from the milk of sheep. In Cyprus, the production method and final product are frequently distinct, causing uncertainty about halloumi cheese production.
In addition, the sector has benefited from the rising popularity of dining out. Halloumi cheese is also regarded as a substitute for meat by a portion of its vegetarian population. However, ingredient adulteration acts as the market's primary restriction. In addition, cheese is not generally considered a healthy food, and health-conscious consumers avoid it due to its high fat and sodium content, limiting the market growth. The expansion of the market for halloumi cheese can be ascribed to the increased accessibility of international travel, which has facilitated more significant cross-cultural interaction.
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Expansion of the Foods and Beverages Industry to Drive Market
The development of logistics, rising levels of affordability, growing international trade, and increased consumer spending have all contributed to the recent significant growth of the food and beverage business on a global scale. Additionally, the food and beverage industry has consistently changed to meet customer demands. The demand for packaged food and convenience meals has increased significantly due to consumers' preference for ready-to-eat food that is also affordable. Furthermore, the food processing sector has expanded recently, which is expected to enhance consumer demand for fast food, which will favorably affect the demand for cheese globally.
Alterations in Lifestyle and an Increase in Demand for Protein-Rich Foods
People no longer have as much time for home cooking due to the increase in working people. Consequently, during the past few decades, there has been a significant rise in the frequency with which people eat and drink when away from home. People have been urged to consume more meat and dairy products due to the trend toward eating a diet high in protein. It has led to an increase in the demand for a range of cuts of meat and cheese in restaurants that provide full service, quick service, and other types of food service. As a result, the cheese business has seen increasing sales due to the boom in demand for high-protein foods.
Expansion of the Retail Industry to Boost Market Progress
Companies and individuals who sell finished products and items directly to consumers are members of the retail industry. Retailers target customers in their local areas. The retail sector has expanded due to a low unemployment rate and steady pricing for electricity in the United States and the rest of the world. Several retail outlets sell alcoholic and nonalcoholic beverages, including hypermarkets, supermarkets, convenience stores, discounters, forecourt retailers, and grocery stores. Internet retailing is one of the most popular formats for acquiring halloumi cheese. This is true among the general populace as well. These stores serve as a marketing tool that contributes to developing a fantastic premium image and increases the brand exposure of a wide selection of foods and beverages. As a result, the retail sector's development is crucial in helping improve the halloumi cheese market.
Increased Health Consciousness to Restrict Market Growth
Companies and individuals who sell finished products and items directly to consumers are members of the retail industry. The retail sector has expanded due to a low unemployment rate and steady pricing for electricity. Internet retailing is one of the most popular formats for acquiring halloumi cheese. These stores serve as a marketing tool that contributes to developing a fantastic premium image and increases the brand exposure of a wide selection of foods and beverages. As a result, the retail sector's development is crucial in helping improve the halloumi cheese market.
Increase in Demand for Organic Cheese to Boost Market Opportunities
Organic food became increasingly popular when people first connected their nutrition, health, and the environment in the early 2000s. Organic food and drinks began to appear on the market in response to increasing customer demand for products with clean labeling and greater transparency in the foods and beverages they consume. The availability of organic food in pre-packaged form alleviated customers' concerns over their health, opening up opportunities for expansion in the food and beverage business.
The global halloumi cheese market is segmented by Type, End-Use, and Nature.
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. The primary or unflavored halloumi cheese contains no added components that modify the flavor of the cheese. In some cases, other types of milk besides ovine milk may be used to manufacture the unflavored halloumi cheese, which typically contains only salt. Increased demand for unflavored halloumi cheese at fast food outlets, quick service restaurants, and full-service restaurants is responsible for the expansion. Halloumi cheese is a cheese in which additional flavors, like mint, are added to salt to enhance the cheese's flavor. Chilli and mint-flavored halloumi cheese are two of the most popular varieties of halloumi cheese on the market. In addition to these varieties, halloumi cheese is also available in Mediterranean and smoked flavors.
Based on end-user, the global halloumi cheese market is segmented into Food Service and Residential.
The food service category is the most significant contributor and is expected to grow at a CAGR of 10.2% during the forecast period. The food service sector encompasses a variety of dining establishments. Fast food eateries, quick-service restaurants, and full-service restaurants are featured. These establishments frequently provide a variety of cheese-containing dishes, including halloumi cheese. The foodservice category led the market for halloumi cheese in terms of size and growth rate. This category is anticipated to develop significantly due to the expansion of fast-food restaurants and consumers' growing reliance on prepared food from food outlets. The residential segment includes users regularly purchasing halloumi cheese from retail stores for consumption at home. However, with increasing travel and the growth of gastronomic tourism, halloumi cheese has been widely adopted worldwide, increasing domestic consumption.
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. Halloumi cheese made traditionally may contain a blend of milk from animals whose diets did not include organic food. The reduced price of conventional halloumi cheese is one of the reasons for its appeal. The traditional cheese of the halloumi category held the most significant proportion of the halloumi cheese market and is anticipated to develop significantly over the next few years. It is expected to the growing popularity of cheese as a flavor enhancer. Additionally, standard halloumi cheese is readily available in various retail formats, facilitating its acquisition and increasing global sales.
Organic halloumi cheese is produced from the milk of goats given organic food. Organic halloumi cheese is more expensive than normal halloumi but significantly healthier. The sector of organic halloumi cheese is anticipated to experience the highest CAGR throughout the projection period. This segment's rise can be attributable to the increased adoption of organic products, which are healthier because they do not include any harmful chemicals or additives.
The global halloumi cheese market is primarily classified into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
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Europe is the largest shareholder and is expected to grow at a CAGR of 9.8% during the forecast period. The market for halloumi cheese in Europe is examined throughout Germany, the United Kingdom, France, Italy, Spain, Cyprus, and the rest of Europe. Europe is the mature market for consumer products and food and beverages worldwide. An increase in R&D expenditures by concerned parties is fueling the expansion of the halloumi cheese industry in the area. Halloumi cheese's rising use in everyday dishes has increased demand for the product in the European market.
Additionally, several market leaders have relied on product innovation and technology advancements to capture a sizeable share of this local market. The LAMEA region is predicted to have a significant development potential due to the region's increasing demand for dairy products. Latin America and the Middle East drive the expansion of the LAMEA halloumi cheese market. The Middle East is among the market leaders for halloumi. This is due to a more extensive youth population base, increased per capita income, and growing fast-food consumption.
The Asia-Pacific region is the quickest growing market for halloumi cheese due to improvements in infrastructure and ease of starting new enterprises. In addition, an increase in disposable income and the easy availability of packaged food and beverages due to the adoption of e-commerce have led to a rise in the adoption of premium products. North America is a developed region with highly established distribution networks that promotes the sale of enormous quantities of food and beverages. The halloumi cheese sector in North America has experienced significant expansion due to a rise in cheese consumption in food service outlets.