Global halloumi cheese market was estimated at USD 425.14 million in 2021 and is projected to generate a revenue of $851.40 million by 2030 at a CAGR of 8.5% during the forecast period.
The global production of Halloumi cheese has seen significant growth in recent years, reflecting its increasing popularity and demand. Halloumi cheese has expanded beyond its traditional production in Cyprus and is now being manufactured in various countries around the world. However, Cyprus remains the primary producer of Halloumi cheese, with the cheese's Protected Designation of Origin (PDO) status protecting its traditional production methods and quality standards. However, other countries, particularly those with a Mediterranean influence, have also started producing Halloumi cheese to meet the growing demand.
Greece, for example, has become a notable producer in the Halloumi cheese market, offering its own variations alongside the Cypriot style. The production of Halloumi cheese in Greece has gained recognition and popularity, both domestically and internationally.
Additionally, other countries outside the Mediterranean region have embraced Halloumi cheese production. Various European countries, such as the United Kingdom, Denmark, and Sweden, have seen a rise in local production, catering to the increasing demand for Halloumi cheese in their respective markets. Apart from this, countries outside Europe, including the United States, Australia, and New Zealand, have also joined the Halloumi cheese production trend. Local producers in these countries have recognized the cheese's rising popularity and have started manufacturing their own versions to meet consumer demand.
The global production of Halloumi cheese is a testament to its widespread appeal and culinary versatility. While Cyprus remains a significant player in Halloumi production, the cheese's popularity has transcended borders, leading to its production in various countries around the world. This diversification of production helps ensure a steady supply of Halloumi cheese to meet the growing global demand.
Market Dynamics
Halloumi cheese has surged in popularity worldwide due to its unique taste and texture. Originating from Cyprus, this semi-hard, unripened cheese has captivated food enthusiasts and consumers alike.
Distinctive Taste and Texture:
Halloumi's remarkable surge in demand can be attributed to its exceptional taste and texture across the global halloumi cheese market. With a slightly salty and tangy flavor, along with a chewy, squeaky texture when cooked, Halloumi offers a sensory experience that appeals to many palates.
Protein-Rich Alternative:
The rise in vegetarian and flexitarian diets has also contributed to Halloumi's popularity. Made from sheep's and goat's milk, or a combination with cow's milk, Halloumi provides a protein-rich alternative for non-meat eaters. Its versatility in the kitchen makes it ideal for enhancing vegetarian dishes.
Culinary Adaptability:
Halloumi's adaptability in various cooking methods has further fueled its demand. Whether grilled, fried, or pan-seared, the cheese maintains its shape, developing a delicious golden crust while remaining firm inside. This makes it an excellent addition to salads, sandwiches, wraps, and Mediterranean-inspired creations.
Synonymous with Mediterranean Cuisine:
Halloumi's association with Mediterranean cuisine has significantly contributed to its rising demand. With its origins deeply rooted in the Mediterranean region, Halloumi has become synonymous with the flavors and dishes of Greece, Cyprus, and the Middle East. As global palates expand, Halloumi has found its place in diverse culinary experiences.
Conventional Halloumi Cheese to Capture More Than 70% Revenue of Global Halloumi Cheese Market
Despite there is a growth in alternative versions of halloumi, it appears that conventional halloumi cheese is set to maintain its dominance in the global market by holding more than 70% of the revenue share. This likely reflects consumer preferences for traditional, authentic products, the unique characteristics of halloumi, and possibly successful trade and pricing strategies.
The high revenue share of conventional halloumi cheese suggests that consumers are likely leaning towards the original, traditional version of the product. Halloumi cheese originates from Cyprus, and it's traditionally made from a mixture of goat's and sheep's milk. The unique taste, texture, and high melting point have made it popular worldwide. The preference for conventional halloumi cheese might reflect a widespread appreciation of these traditional qualities.
The dominance of conventional halloumi cheese market could also suggest that alternative or niche versions of the product, such as vegan or flavored halloumi, are still only a small part of the market. These products, while potentially growing, are likely not yet significant enough to challenge the dominance of conventional halloumi.
Despite the global trend towards plant-based and vegan diets, it appears that the demand for conventional, dairy-based halloumi cheese remains strong. This could be due to its unique characteristics, which may not be easily replicated by plant-based alternatives. Since halloumi cheese is a significant export product for Cyprus, the growth and dominance of conventional halloumi in the global market could also reflect successful trade agreements, strong international distribution networks, and effective marketing strategies.
Halloumi Cheese is not Popular on Online Channel as More than 87% Revenue of Global Halloumi Cheese MarketComes from Offline Distribution
Despite the rapid growth of e-commerce and online shopping, it appears that the distribution of halloumi cheese remains largely dependent on offline channels, which contribute to more than 87% of sales revenue. Here is an analysis of the factors contributing to this trend:
Consumer Buying Behavior: Cheese is often considered a perishable product, and customers may prefer to assess the quality and freshness of halloumi cheese in person. Shopping in physical stores allows consumers to examine the product directly, which can be a significant factor in driving offline sales.
Importance of Supermarkets and Specialty Stores: Supermarkets, hypermarkets, and specialty food stores are still the primary points of sale for a wide range of food products, including halloumi cheese. They offer customers the convenience of purchasing multiple items in a single visit and provide a comprehensive selection of cheese and dairy products. This convenience and variety contribute to the high sales revenue from offline channels.
Challenges in Shipping Perishable Items: Shipping perishable items like cheese can be logistically challenging and expensive for online retailers in the global halloumi cheese market. Ensuring that the product remains fresh and undamaged during shipping requires specialized packaging and temperature-controlled transportation, which can increase operational costs and affect the price competitiveness of the product.
Online Market Saturation: The online food market is becoming increasingly saturated, with many players vying for a share of the customer base. In such a competitive environment, it might be more difficult for online retailers to differentiate themselves and attract consumers specifically for halloumi cheese purchases.
Limited Availability and Awareness: The growth of online distribution channels for halloumi cheese may be hindered by limited product availability on e-commerce platforms or a lack of consumer awareness about online purchasing options. This could result in a lower uptake of online sales for halloumi cheese compared to other products.
Europe Contribute More than 35% Revenue to Global Halloumi Cheese Market
Europe's status as the largest market for halloumi cheese, contributing to more than 35% of the global halloumi cheese revenue, can be attributed to a variety of factors. Europe has a rich history of cheese consumption and a cultural affinity for cheese products, including halloumi. The cheese originated in Cyprus, which is part of Europe, so it's natural that the cheese would be more popular and accepted in this region.
Europe's vibrant food tourism and gastronomy sector also play a significant role in driving the demand for halloumi cheese. European cuisine, which often features halloumi, is celebrated worldwide, attracting tourists and locals alike. The cheese itself can be a culinary attraction, adding to its popularity and demand.
Europe's advanced trade and distribution networks further contribute to the region's dominance in the halloumi cheese market. These networks facilitate easy access to halloumi cheese, ensuring a steady supply and contributing to its popularity. Additionally, Europe's proximity to Cyprus, the origin of halloumi, simplifies import processes, making it readily available to consumers.
The Mediterranean diet, common in southern Europe, places emphasis on the consumption of dairy products like cheese. Halloumi, with its unique texture and flavor, fits well within this dietary pattern, further driving its demand in the European market.
High awareness of halloumi cheese market and the concerted marketing efforts by cheese manufacturers in Europe help maintain its high demand. European consumers are well-informed about the cheese, and manufacturers actively promote it through various marketing channels, ensuring its visibility and desirability. These combined factors have solidified Europe's position as the largest market for halloumi cheese, showcasing the region's strong connection to this beloved cheese variety.
Segmental Overview
By Type
By Nature
By Flavor
By Distribution Channel
By Region
