Halloumi is one of the most popular types of cheese in the world. It's made from sheep's milk and has a succulent, smoky flavor. European chefs have been using it for centuries to add flavor and complexity to their dishes. In the last few years, the global halloumi cheese market has witnessed a significant surge in the demand for the product, with many restaurants and retailers, such as Whole Foods, stocking more of the cheese than ever before. It has also been found that it is becoming a great choice for those who are looking for an alternative to more traditional cheeses like cheddar or Swiss cheese.
The Global Halloumni Cheese Market size was US$ 38,621.2 million in 2021. The Halloumni Cheese Market size is forecast to reach US$ 98,798.5 million by 2030, growing at a compound annual growth rate (CAGR) of 9.4% during the forecast period from 2022 to 2030.
Since halloumi began to gain popularity in the United States and other countries around the globe, farmers have been trying to meet the demand by milk producing more sheep. However, there's only so much milk a single sheep can produce, so some cheese makers are turning to alternative milks, like cow, buffalo, camel and goat, to make their halloumi.
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Global Halloumi Production Reached 97 million Pounds in 2021
In 2021, Halloumi production reached 97 million pounds in the global halloumi cheese market, which is an increase of 45% from 2016. This growth shows that consumers are increasingly interested in this unique cheese. Moreover, people are more interested in sustainable food choices, which leads them to explore more niche flavors and ingredients. Also, it has a relatively low cost, making it an affordable option for those who want to try it out.
Island of Cyprus is the largest producer of halloumi cheese around the global halloumi cheese market. As per Astute Analytica, the country export over 30,000 tons of halloumi cheese across the globe. In 2021, the global halloumi cheese market was valued at $425.14 million. In the same year, Cyprus generated a revenue of over $225 million through export, which increased significantly from $198 million in 2018. Given the current growth rate, the country is likely to generate over $300 million in revenue through exports by 2023. Wherein, the UK is the largest importer of the halloumi cheese. In fact, it is responsible four consuming 40% of the total import from Cyprus.
Astute Analytica published a report on global halloumi cheese market. The reports comprise a detailed analysis of global production by country, import and export data, largest consumer base, global shortage of raw materials and impact on production and revenue, among others.
Shortage of Goat and Sheep Milk is Challenging Production of Halloumi Cheese
Anxiety and concern have been prevalent in the cheese production industry for some time now, with the main culprit being a lack of fresh goat and sheep milk. This shortage is hindering the production of halloumi cheese, one of the world's most recognizable and loved cheeses. Goat milk is particularly important because it gives the cheese its characteristic tangy, acidic flavor.
In recent years, there has been a big increase in demand for halloumi cheese in the global halloumi cheese market. However, due to the lack of fresh goat milk, many cheese producers have had to turn to substitute ingredients such as cow, sheep and even almond milk in order to make their product. The Cyprus dairy industry is experiencing a shortage of this type of milk due to export restrictions imposed by the European Union. The lack of quality goat milk has caused the price of this cheese to rise.
As a result, most of the producers in the global halloumi cheese market are forced to apply 20–80% goat-sheep to and cow milk ratio. However, the producers in the Cyprus will have to obliged the formula of 51–49% by 2024. Currently, the country is producing 60 million liters of sheep-goat milk, out of which over 10 million liters are used for other dairy production. As a result, the production is likely to shrink by 50% if not addressed immediately.
The main issue with this is that these substitutes often result in cheeses that are either less flavorful or have a different texture. This has placed great pressure on the cheese industry as consumers are becoming increasingly sensitive to the difference between traditional and imitation cheeses.
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Haloumi Cheese becoming Popular in Bulgaria and Turkey
The appetite for halloumi cheese among Turkish and Bulgarian consumers is reaching new heights. According to Astute Analytica’s sales data, Bulgarian production of this cheese is the growing day by day. To avoid the lawsuit, the halloumi cheese producers in Bulgaria changed the taste to some extent and even won the batter in EU court in 2021. It is also appreciated in Turkey, where it accounts for 670 tons of annual production.
Cyprus is the main supplier of halloumi to the rest of Europe halloumi cheese market, selling over 27,000 tons of the cheese annually across Europe, but Turkish producers believe that they can rival Cyprus production. The Turkish government has offered tax breaks for companies who produce halloumi, and this is thought to be one factor behind the increase in demand. According to our analysis, demand for the cheese in Turkey and Bulgaria is expected to increase by 15.8% and 25.0% respectively over the next 8 years.
Key Players in Global Halloumi Cheese Market
- Achnagal Dairies
- Arla Foods
- Dafni Dairy
- Lefkonitziatis Dairy Products
- Nordex Food
- Olympus Cheese
- Petrou Bros Dairy Products
- Pittas Dairy Industries
- Zita Dairies
- Other Prominent Players
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