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Halloumi Cheese Market Forecasted to Achieve US$ 1.2 Billion by 2033, with 10.4% CAGR

06-07-2024 08:10 AM CET | Food & Beverage

Press release from: Fact.MR

Halloumi Cheese Market Forecasted to Achieve US$ 1.2 Billion

It is anticipated that halloumi cheese market will be valued at US$ 445 million in 2023 and surpass US$ 1.2 billion by the end of 2033. It is projected that the worldwide market for halloumi cheese will grow at an astounding rate of 10.4% CAGR till 2033.

Cyprus, a Middle Eastern nation, is the birthplace of halloumi cheese, which has been made there by local farmers for generations. Since this nation currently produces the most halloumi cheese, it is an important market on the international scene. Other cheese varieties that are anticipated to grow in popularity in the future include feta, Greek, white, goat, and Brie cheeses.

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The demand for halloumi cheese is projected to experience substantial growth in the coming years, primarily fueled by the increasing cultural exchange among global travelers. The trend of dining out, the integration of various cheeses into diverse cuisines, and the global expansion of food service outlets are also expected to significantly boost halloumi cheese sales.

Furthermore, the adoption of halloumi cheese as a meat substitute among vegetarians is anticipated to markedly increase its consumption. Factors such as globalization, rising disposable incomes, a growing preference for fast food, and the broader availability of halloumi cheese across different regions are expected to further propel its demand.

Key Companies Profiled:
• The Kraft Heinz Company
• Akgöl Ltd.
• GRILLIES INC.
• Danone S.A.
• GCMMF
• Nestlé S.A.
• Land O' Lakes, Inc.
• DairiConcepts L.P
• N.TH. Kouroushis LTD.
• Petrou Bros Dairy Products
• Akgöl Ltd.
• ADM
• GRILLIES INC.
• Lactosan A/S
• Routhier Mediterranean Products GmbH
• anegrade Limited
• Kerry
• Lemnos Foods

The Asia Pacific region is projected to become a significant market for halloumi cheese, propelled by shifting consumer preferences. Concurrently, Europe is expected to retain its dominance in both the consumption and production of halloumi cheese, supported by well-established consumer demand and robust manufacturing capacities.

In the United States, a notable increase in cheese consumption, driven by a rich culinary landscape and an expanding European visitor base, creates promising prospects for vegan cheese alternatives, including vegan halloumi cheese.

Read More: https://www.factmr.com/report/1753/halloumi-cheese-market

In Asian markets, including Japan, South Korea, India, and China, historical cultural variances and traditional dietary preferences have constrained cheese consumption. Nonetheless, ongoing globalization initiatives and targeted marketing endeavors by halloumi cheese producers are progressively altering this scenario, fostering heightened consumption trends in these regions.

Meanwhile, Europe continues to serve as a pivotal market for halloumi cheese, with substantial consumption anticipated in countries such as the United Kingdom and Cyprus. Additionally, the escalating interest in organic halloumi cheese among consumers in the region offers manufacturers novel prospects for expansion and market penetration.
Key Segments of Halloumi Cheese Industry Research:

• By Product Form :
o Slices
o Blocks
• By Nature :
o Organic
o Conventional
• By Flavor :
o Plain
o Flavored
o Mint
o Chili
• By End Use :
o B2B
o Food Service
o Industrial
o B2C
• By Distribution Channel :
o Direct Sales
o Hypermarkets/Supermarkets
o Convenience Stores
o Discount Stores
o Dairy Stores
o Online Retailers
o Other Channels
• By Region :
o North America
o Latin America
o Europe
o APAC
o MEA

Overall, the halloumi cheese market is poised for expansion, fueled by evolving consumer preferences, cultural shifts, and strategic market initiatives aimed at tapping into emerging opportunities across different regions.

In conclusion, the Halloumi Cheese Market is on a trajectory of steady growth, driven by a convergence of factors including globalization, changing dietary preferences, and increasing cultural exchange. The rising demand for halloumi cheese is fueled by its versatility in various cuisines, its appeal as a meat substitute for vegetarians, and its popularity among consumers seeking novel culinary experiences.

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About Fact.MR
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.

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