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Halloumi Cheese Market Drivers, Growth, Size and Opportunities Forecast, 2019-2029
The emerging players in the market are likely to benefit from the high existing demand for halloumi cheese in the local and foreign markets., 10/10/2019 - Fact.MR delivers vital insights on the halloumi cheese market in its published report, titled “Halloumi Cheese Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2019-2029”. In terms of revenue, the global halloumi cheese market is projected to expand at a CAGR of over 12% during the forecast period, owing to numerous factors, which Fact.MR offers thorough insights and forecasts in this report. As per the FAO Dairy market review, March 2019, the demand for varietal cheese has been increasing in the recent years. Halloumi cheese, one of the specialty cheeses in the market, has increasingly become popular in the past decade. The demand for halloumi cheese is high globally but the current lot of manufacturers have been facing difficulties catering to this demand for halloumi cheese. Pittas Dairy, one of the four major producers of halloumi cheese, has ceased operation from January, 2019. The Pittas Dairy factory was reported to be completely destroyed due to a fire. The shutdown of Pittas Dairy has increased the pressure on current manufacturers to ramp up production in order to meet the growing demands of consumers. Despite this current gap between the supply and demand, the new and emerging players who are eyeing the halloumi cheese market as a profitable revenue pocket will have an abundant consumer base to cater to, in the coming years.

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Shortage of Halloumi Cheese Due to Limited Production Capacities

The report showcases how the halloumi cheese market has been previously hampered due to regulations on its trade. In 2018, Cyprus government signed a protocol permitting the export of dairy products to China. The rise in demand for halloumi cheese has been observed and increasing every year. The local producers of halloumi cheese have been facing difficulties in catering to the demand in UK, Sweden, Germany, Denmark, and Australia. The inclusion of demand from the Asian countries will be impossible to satisfy with the current production capacities. The shortage of halloumi cheese in the UK supermarkets was high in the previous year.

The supply side issues are likely to be alleviated in the coming years due to multiple campaigns launched in the European Union. The increase in the sheep and goat population will be one of the major factors affecting the growth of the halloumi cheese market. Multiple demand side shortages have created prominent opportunities for new players in the market. Owing to this, non-Cypriot players have been entering the market in recent years. Waitrose, one of the new entrants in the halloumi cheese market, has seen an increase of 24% sales of cheese, right after introducing halloumi cheese. These factors are expected to create a major impact on the demand for halloumi cheese in the forecast period.

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PDO Status for Halloumi Cheese in EU to Affect the Market Growth

Fact.MR opines that some issues in the production of halloumi cheese are exacerbated with the introduction of counterfeit products emerging in the market. As per the report, some farmers in UK and Germany have tried to produce halloumi cheese only by using cow’s milk. Taking this into consideration, the Cyprus government tried to register Cyprus as a Protected Designation of Origin (PDO) for halloumi cheese. The Cyprus government launched a legal cease and desist suits on the non-Cypriot halloumi cheese producers.

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