FELTON, Calif., May 6, 2021 /PRNewswire/ -- The global Halloumi Cheese Market size is expected to reach USD 888.6 million by 2028, registering a CAGR of 6.3% over the forecast period, according to a new report by Million Insights.
What are Key Elements Driving the Halloumi Cheese Market Growth?
Increasing cross-cultural collaboration due to frequent travel couple with growing dining-out culture due to the increasing disposable income is driving the growth. Halloumi cheese is also considered a substitute for meat for vegetarians as a source of high protein. Thus, all these factors are expected to drive the growth of the market.
The organic segment contributed to the second-highest share in the global revenue in 2020 and is expected to expand at the highest CAGR of 6.7% over the forecast period. These products are superior in taste and have a higher nutritional value than conventional cheese. Organic halloumi cheese also increases the chances of the body absorbing any chemicals and toxins.
Asia Pacific held a revenue share of 24.5% in 2020. Increasing young population coupled with rising disposable income in countries such as China and India are the factors projected to drive the regional product demand. Increasing consumption and shifting consumer preference from meat to halloumi cheese to meet the protein requirement are other factors expected to drive the market growth. Moreover, the easy availability due to modern retail facilities and cold chain logistics is further expected to drive the industry growth.
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Key Questions Answered in The Halloumi Cheese Market Report:
- Which Region to Account the Largest Market Share?
Asia Pacific held a market share of 24.5% in terms of revenue in 2020. China accounted for the largest revenue share of 27.5% in 2020, followed by India and Japan. The easy availability of such products owing to the well-established retail store chains and changing consumer preference from cow's milk to nutrient-rich halloumi products are the significant growth drivers.
- Which Segment of the Halloumi Cheese to Hold the Highest Market Share?
The conventional segment contributed to the highest revenue share in 2020 and is expected to expand at the second highest CAGR over the forecast period. Increasing demand for conventional products from restaurants and fast-food joints as they are cheaper than organic products is expected to drive the demand.
- Which Region to Account Fastest Growth Rate?
Europe is projected to foresee a CAGR of 6.2% from 2021 to 2028. Germany accounted for the largest share of 22.7% in the region followed by the U.K.
- Which Segment of the Halloumi Cheese Distribution Channel to Hold the Highest Market Share?
The supermarkets/ hypermarkets distribution channel segment contributed to the highest revenue share of more than 35% in 2020. Consumers feel more comfortable choosing their products, especially grocery and dairy products, which is anticipated to fuel the segment growth.
Browse 85 page research report with TOC on "Global Halloumi Cheese Market" at: https://www.millioninsights.com/industry-reports/global-halloumi-cheese-market
Million Insights has segmented the global halloumi cheese market based on product, nature, distribution channel, and region:
- Halloumi Cheese Product Outlook (Revenue, USD Million, 2017 - 2028)
- Halloumi Cheese Nature Outlook (Revenue, USD Million, 2017 - 2028)
- Halloumi Cheese Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)
- Convenience Stores
- Halloumi Cheese Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- South Africa
- List of Key Players of Halloumi Cheese Market
- Petrou bros dairy products ltd.
- Akgöl Dairy
- Routhier Weber GmbH
- N.TH. Kouroushis LTD.
- Lemnos Foods
- FarmLand General Trading Co
- Waimata Cheese Company
- GALAKTOKOMIO A.D.S DAFNI LTD
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SOURCE Million Insights