LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global halloumi cheese market to grow at a CAGR close to 5% during the forecast period, according to their latest market research report.
Rise in demand from the fast food industry is one of the major trends being witnessed in the global halloumi cheese market 2019-2023. An increase in the demand for food products from the fast food industry is expected to strengthen the market during the forecast period. Cheese is an important ingredient for many fast-foods such as sandwiches, burgers, hot dogs, and pizzas. The growth in the number of fast food retail chains such as McDonald's, KFC, Dominos, Pizza Hut, Burger King, Subway, and Dunkin Donuts has increased the demand for halloumi cheese and is further expected to drive the market.
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According to Technavio analysts, one of the key factors contributing to the growth of the global halloumi cheese market is the growth in the global cheese market:
Global halloumi cheese market: Growth in the global cheese market
Dairy products such as milk, butter, cheese, yogurt, cream, and ice-cream are the most popular food categories in the global food market among diverse demographics. Thus, the growth in the global milk production will facilitate growth of the global dairy industry. The global cheese market is growing due to the rise in demand from the fast food industry, growing demand for protein-rich products, and growing innovation in the packaging industry which increases the shelf life of cheese. Thus, this growth of the cheese market will strengthen the global halloumi cheese market during the forecast period.
According to a senior analyst at Technavio, “The global food sector is experiencing a significant growth in the demand for protein-rich dairy products such as milk, butter, cheese and yogurt. More and more individuals are visiting gyms or practicing sports to boost their overall health and counter stress. In addition, the increasing incidence of various bone-related diseases such as osteoporosis is driving consumers to take protein-rich diets to secure their health and well-being. All these factors pave the demand for protein-rich products, which will boost the growth of the global halloumi cheese market.”
Global halloumi cheese market: Segmentation analysis
The global halloumi cheese market research report provides market segmentation by distribution channel (supermarkets/hypermarket, convenience stores, others), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The EMEA region held the largest share of the market in 2018, accounting for close to 62% share, followed by the APAC, and the Americas respectively. However, during the forecast period, the APAC region is expected to witness the highest incremental growth followed by the Americas.
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Five Forces Analysis
Market Segmentation
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