New Delhi, Oct. 14, 2024 (GLOBE NEWSWIRE) -- The global halloumi cheese market was valued at US$ 467.7 million in 2023 and is anticipated to reach US$ 1,183.0 million by 2032 at a CAGR of 8.5% during the forecast period 2024–2032.
The halloumi cheese market continues to display robust growth, driven by its increasing popularity both as a standalone product and an ingredient in various culinary applications. Originating from Cyprus, halloumi has carved out a global niche, with annual production surpassing 450,000 tons. The cheese's versatility, characterized by its unique ability to retain its shape when grilled or fried, appeals to chefs and consumers alike, making it a staple in restaurants and households. In the UK alone, halloumi imports reached 18,000 tons this year, reflecting its strong consumer demand. Additionally, the cheese has found a strong foothold in the Middle East and Europe, where it is a beloved component of numerous traditional dishes.
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The global reach of halloumi is further evidenced by its growing presence in North America and Asia, regions where cheese consumption is on the rise. In 2023, the United States imported over 5,000 tons of halloumi, propelled by the expanding interest in Mediterranean cuisine in the halloumi cheese market. Similarly, Japan's burgeoning gourmet cheese market saw a noticeable increase in halloumi imports, totaling 2,500 tons. This expansion is facilitated by strategic partnerships between Cypriot producers and international distributors, enhancing halloumi's accessibility and availability across new markets. Moreover, the rise of e-commerce platforms has played a pivotal role, with online cheese sales contributing $3 billion to the market, allowing consumers to easily purchase halloumi globally.
Despite its success, the halloumi cheese market faces challenges, particularly from the ongoing debates over its protected designation of origin (PDO) status, which seeks to officially recognize halloumi as a uniquely Cypriot product. In 2023, the European Union officially granted this status, which affects production in non-Cypriot regions and may lead to legal disputes. Concurrently, the halloumi cheese market is contending with fluctuating dairy prices, impacting production costs and retail pricing. To address these challenges, producers are investing in sustainable farming practices and innovative product variations, such as low-fat and flavored halloumi. These efforts are supported by a growing consumer trend towards ethical and health-conscious eating, with over 40% of global consumers expressing interest in sustainable food products. As the market evolves, halloumi's ability to adapt to these dynamics will be crucial for sustaining its growth trajectory.
Key Findings in Halloumi Cheese Market
| Market Forecast (2032) | US$ 1,183.0 million |
| CAGR | 8.5% |
| Largest Region (2023) | Europe (35.9%) |
| By Product Type | Matured Halloumi Cheese (57.1%) |
| By Nature | Conventional (70.6%) |
| By Flavor | Plain Cheese (45.4%) |
| By Distribution | Offline (87.6%) |
| Top Drivers |
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| Top Trends |
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| Top Challenges |
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Rapid Ascension of Fresh Halloumi Cheese in Global Markets is Pegged at CAGR of 8.7%
Fresh halloumi cheese is emerging as the fastest growing segment in the halloumi cheese market, driven by shifting consumer preferences and innovative culinary trends. In 2023, fresh halloumi has been incorporated into 25 new product lines by leading dairy producers, indicating its increasing popularity among manufacturers. The market has seen the launch of over 50 fresh halloumi-flavored snacks, catering to health-conscious consumers seeking nutritious yet tasty options. Additionally, fresh halloumi has been a key ingredient in 30 popular cooking shows worldwide, further driving consumer interest. The trend towards plant-based and minimally processed foods has led to fresh halloumi being featured in 15 vegan and vegetarian cookbooks published this year. This type of halloumi is often praised for its soft texture and mild flavor, making it a versatile ingredient in contemporary gastronomy.
The accessibility of fresh halloumi in global halloumi cheese market has also expanded significantly, with exports reaching 35 new countries in 2023 alone. Fresh halloumi's presence in online grocery platforms has increased, with over 1,000 listings recorded across major e-commerce sites. Its inclusion in 40 new international restaurant chains showcases its growing appeal in diverse culinary settings. Furthermore, fresh halloumi has become a staple in 100 farmers' markets and local food fairs, indicating a rising demand for locally sourced and artisanal products. The segment has attracted attention from health and wellness influencers, with over 500 social media endorsements promoting fresh halloumi as a nutritious choice. The development of specialized fresh halloumi packaging, accounting for 20 new innovations, underscores the industry's commitment to meeting this demand. As consumers increasingly seek fresh and sustainable food options, fresh halloumi is well-positioned to continue its ascent in the global cheese market, appealing to a broad demographic of food enthusiasts.
Conventional Halloumi Cheese To Remain Top Choice Among Consumers
The conventional halloumi cheese segment continues to assert its dominance in the global halloumi cheese market through a combination of strategic distribution, consumer loyalty, and culinary versatility. As of 2023, the conventional halloumi industry has expanded its reach to over 70 countries, with exports totaling 400,000 metric tons this year. This global presence is supported by 12 major dairy producers who dominate the halloumi production landscape, ensuring that supply meets the growing demand. The cheese's popularity has been further bolstered by its inclusion in 8,000 restaurant menus, where it features prominently in dishes ranging from traditional Mediterranean recipes to modern fusion cuisine. In the retail sector, conventional halloumi is a top-selling item in 45,000 grocery stores across the globe, illustrating its widespread appeal and accessibility. Moreover, its proven track record in maintaining quality and taste consistency has earned it recognition in more than 20 international food awards this year alone.
The sustained demand for conventional halloumi cheese market is also driven by its adaptability in meeting diverse consumer needs, from casual dining to gourmet experiences. In 2023, data shows that 10 million households regularly purchase conventional halloumi, underlining its status as a staple in many kitchens. The cheese's versatility is highlighted by its use in over 1,500 published recipes in culinary magazines, showcasing its ability to complement various cuisines and dietary preferences. Furthermore, conventional halloumi has been featured in 500 culinary workshops worldwide, where chefs and home cooks alike explore its unique qualities. The cheese's market strength is also reflected in its contribution to the dairy industry's estimated $467 million revenue this year. With over 200 new product innovations incorporating conventional halloumi, such as ready-to-eat meals and snack packs, its presence in the food industry continues to expand, underscoring its unrivaled market position.
Cyprus: The Flourishing Heart of Global Halloumi Cheese Market
Cyprus has firmly established itself as the center of halloumi cheese production, consumption, and export, owing to its rich cultural heritage and strategic economic initiatives. Halloumi, a semi-hard cheese traditionally made from a blend of sheep's and goat's milk, has been an integral part of Cypriot cuisine for centuries. Cyprus produced approximately 23,000 metric tons of halloumi annually, with production steadily increasing to meet both domestic and international demand. Over 4,000 local farmers are actively involved in the production process, supporting rural economies across the island. In April 2021, the European Union granted halloumi Protected Designation of Origin (PDO) status, legally recognizing Cyprus as the authentic source of halloumi within the EU. This status not only safeguards the traditional recipe but also enhances Cyprus's ability to capitalize on the growing global demand. With more than 200 registered dairy producers, the halloumi industry has become a vital sector in the Cypriot economy, employing over 8,000 individuals nationwide.
The export of halloumi from Cyprus has expanded significantly in the halloumi cheese market, making it one of the country's top export commodities. By 2023, Cyprus exported over 17,000 metric tons of halloumi to more than 40 countries, generating annual revenue of approximately €200 million. The United Kingdom remains the largest importer, receiving around 13,000 metric tons annually, driven by the cheese's popularity and the sizeable Cypriot diaspora. Other significant markets include Sweden, Germany, and Australia, where consumer demand has been on the rise. The Cypriot government has invested €2 million annually in marketing campaigns to promote halloumi internationally, participating in global food exhibitions and strengthening the cheese's global brand recognition. Additionally, investments exceeding €10 million have been directed towards modernizing dairy facilities, increasing production capacity, and ensuring compliance with international quality standards. The synergy of cultural heritage, legal protection through PDO status, and strategic investments has positioned Cyprus as the flourishing heart of the global halloumi cheese industry.
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Halloumi Cheese Market Stay Highly Competitive as Top 5 Players Capture Less than 22% Market Share
The halloumi cheese market is experiencing significant growth, with major players like Nordex Food, Achnagal Dairies, Arla Foods, and Petrou Bros Dairy Products capturing nearly 22% of the market share. These companies are leveraging their robust supply chains and innovative production techniques to enhance their market positions. For instance, Nordex Food recently expanded its production facilities in Denmark, incorporating advanced cheese-making technologies that increase efficiency and product quality. This expansion not only boosts their production capacity but also reinforces their commitment to meeting rising global demand, especially in Europe and the Middle East.
Furthermore, Achnagal Dairies has been focusing on sustainable practices as part of their competitive strategy in the halloumi cheese market. They have launched an initiative to reduce their carbon footprint by optimizing energy consumption in their production processes. This eco-friendly approach appeals to environmentally conscious consumers and sets Achnagal apart in the crowded marketplace. Similarly, Arla Foods is capitalizing on its strong brand reputation and extensive distribution network to penetrate new markets, particularly in Asia. Their strategic marketing campaigns emphasize the authenticity and traditional crafting methods of their halloumi, resonating well with consumers seeking genuine, high-quality cheese options.
Petrou Bros Dairy Products, on the other hand, is prioritizing product innovation to maintain its competitive edge. They have introduced a range of flavored halloumi cheeses, including chili and herb-infused varieties, catering to diverse consumer preferences and expanding their product portfolio. This move not only differentiates their offerings but also stimulates consumer interest in trying out new flavors. Moreover, the company has invested in digital marketing strategies to enhance brand visibility and engage with a broader audience. These developments reflect a broader trend in the halloumi cheese market, where companies are increasingly focusing on innovation, sustainability, and strategic market expansion to capture a larger share of the growing demand for this popular cheese.
Key Companies:
- Achnagal Dairies
- Almarai
- Arla Foods
- Dafni Dairy
- Lefkonitziatis Dairy Products
- Nordex Food
- Olympus Cheese
- Petrou Bros Dairy Products
- Pittas Dairy Industries
- Uhrenholt
- Zita Dairies
- Other Prominent Players
Key Segmentation:
By Type
- Fresh Halloumi
- Mature Halloumi
By Nature
- Organic
- Conventional
By Flavor
- Plain
- Salty
- Tangy
- Others
By Distribution Channel
- Offline
- Direct Sales
- Hypermarkets
- Supermarkets
- Convenience Stores
- Dairy Stores
- Others
- Online
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
- South America
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