Halloumi Cheese Market Set to Surpass $1.18 Billion by 2032
The cheese’s popularity as a standalone product and as a culinary ingredient continues to grow, especially in the UK, where imports have surged to 18,000 tons this year alone. Additionally, halloumi's reach is expanding into North America and Asia, with significant imports in the United States and Japan. Partnerships between Cypriot producers and international distributors are making halloumi more accessible, while the rise of e-commerce is enhancing its global presence, contributing to a $3 billion online cheese market.
Despite its success, the halloumi market faces challenges, including debates over its Protected Designation of Origin (PDO) status and fluctuating dairy prices. Producers are adapting by investing in sustainable practices and product innovations, such as low-fat and flavored halloumi, appealing to health-conscious and ethical consumers. With more than 40% of global consumers interested in sustainable products, halloumi is well-positioned for growth.
Key Market Insights and Trends
- Forecasted Market Value (2032): $1.18 billion
- CAGR: 8.5%
- Leading Region (2023): Europe (35.9% share)
- Top Product Type: Matured Halloumi Cheese (57.1%)
- Consumer Trends: Rising demand for Mediterranean diets and unique cheese experiences globally
- Key Challenges: Regulatory issues, dairy price fluctuations, and competition with other specialty cheeses
Fresh halloumi, with its soft texture and mild flavor, is the fastest-growing segment, experiencing a CAGR of 8.7%. This trend reflects consumer preferences for minimally processed foods, with fresh halloumi gaining traction across online platforms, farmers' markets, and international restaurant chains. Similarly, conventional halloumi remains the dominant choice among consumers, with over 10 million households purchasing it in 2023.
As Cyprus continues to lead global halloumi production, it strengthens its position through PDO status, safeguarding halloumi's authenticity. The Cypriot government has invested in modernizing dairy facilities and promoting halloumi internationally, further cementing the island as the heart of halloumi production.
The competitive landscape is intensifying, with major players like Nordex Food and Achnagal Dairies capturing nearly 22% of the market share. These companies leverage sustainable practices, product innovation, and strategic market expansions to meet the growing demand for this beloved cheese.
