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.
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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.
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.
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. The non-Cypriot players will need to
open the production base in Cyprus for production of halloumi cheese. The PDO
status of the halloumi cheese has not been approved in the UK. Issues at the
time of filing the trademark led a UK-based company to report an annulment for
the action. The trademark has been said to be lost in the UK. The possibility
of production of halloumi cheese in the UK will open up a new course of action
for the new and current players. Nicos Anastasiades, the Cyprus President, has been
on the warpath for pushing the PDO status for halloumi cheese. The Green line divides the island of Cyprus into
two groups, Greek and Turkish Cypriots. Furthermore, the political changes and
agreements involving the green line regulations will determine the development
of the halloumi cheese trade.
Report Overview- https://www.factmr.com/report/1753/halloumi-cheese-market
The research study
done by Fact.MR finds that despite the impediments faced by the halloumi cheese
market, efforts from EU are on to facilitate the Cyprus Economy. The Agricygen partnership, funded by
EU, connects universities in Cyprus with renowned experts in the world. The aim
of the partnership is to increase the quality of the agricultural products in
Cyprus. The Edinburgh University scientists are doing pioneering work in
research to increase the production capacity of goats and sheep. The research
in the long run is projected to help satisfy the demand for halloumi cheese. The
work of the current players combined with the efforts of the Cyprus government
will be the deciding factors in the development of the halloumi cheese market.
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