- Expansion of quick-service restaurant, increase in popularity, growth in demand for protein-rich food, and rising trend for international cuisine have boosted the growth of the global feta cheese market
PORTLAND, Ore., June 8, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Feta Cheese Marketby Source (Cow Milk, Sheep Milk, and Goat Milk), Type (Bulgarian Feta, French Feta, German Feta, and Others), and Distribution Channel (B2B and B2C Distribution): Global Opportunity Analysis and Industry Forecast, 2021-2028". As per the report, the global feta cheese industry was pegged at $10.5 billion in 2019, and is estimated to reach $15.6 billion by 2028, growing at a CAGR of 5.7% from 2021 to 2028.
Major determinants of the market growth
Expansion of quick-service restaurant, increase in popularity, growth in demand for protein-rich food, and rising trend for international cuisine have boosted the growth of the global feta cheese market. However, lack of storage and transport facility hinder the market growth. On the contrary, availability of various options in cheese such as flavor, color, and texture is expected to create lucrative opportunities for the market players in the future.
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Covid-19 scenario:
- The outbreak of the covid-19 pandemic led to disrupted services and supply chain in the feta cheese market.
- The suspension of hotels and restaurants during lockdown has further declined the demand for feta cheese.
- Moreover, as the regions are entering recovery zone, the market is expects to proliferate soon.
The sheep milk segment held the largest share
By source, the sheep milk segment held the largest share in 2019, accounting for around three-fifths of the global feta cheese market, due to its superior quality compared to cow, goat, and buffalo milk. However, the cow milk segment is projected to manifest the highest CAGR of 6.5% during the forecast period, owing to easy availability of a variety of cows as well as their milk.
The B2C segment to register the highest CAGR through 2028
By distribution channel, the B2C segment is anticipated to portray the highest CAGR of 6.2% during the forecast period, owing to itsuse in various regular dishes . However, the B2B segment held the largest share in 2019, contributing to nearly three-fifths of the global feta cheese market, owing to surge in demand for various fast foods from the leading food chains such as Burger King, KFC, McDonalds, and Dominos.
Europe, followed by North America, dominated the market growth
By region, the global feta cheese market across Europe, followed by North America, held the largest share in 2019, accounting for more than half of the market. Increase in demand from millennial, surge in awareness regarding the benefits of chees, and rise in demand for fresh and ready to eat food with changes in lifestyle drive the growth of the market in this province. However, the market across Asia-Pacific is expected to showcase the highest CAGR of 6.6% during the forecast period, owing to increase in demand for cheese products such as feta cheese and cheddar cheese in the developing countries.
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Major market players
- Arla Foods amba
- Lactalis American Group, Inc.
- Fonterra Co-operative Group
- Saputo Inc
- The Kraft Heinz Company
- Dodoni S.A.
- Kolios S.A. Mevgal
- SADAFCO
- Clover Leaf Cheese Ltd.
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