The "Feta Cheese Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The feta cheese market size has grown strongly in recent years. It will grow from $13.65 billion in 2023 to $14.52 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The feta cheese market size is expected to see strong growth in the next few years. It will grow to $19.01 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%.
The growth in the historic period can be attributed to the increasing popularity of Mediterranean cuisine, growing health consciousness, globalization of food culture, rising demand for specialty cheeses, diverse culinary applications, and a focus on natural and organic foods.
The growth in the forecast period can be attributed to the continued emphasis on healthy eating, innovation in feta cheese products, increased focus on sustainable agriculture, consumer demand for authentic experiences, and the expansion of quick-service restaurants. Major trends in the forecast period include plant-based alternatives, flavored feta varieties, a focus on clean label and transparency, educational marketing, and innovations in packaging.
An uptick in sheep and goat milk production is anticipated to drive the growth of the feta cheese market in the future. Feta cheese, primarily crafted from sheep milk, occasionally includes a blend of 30% goat milk and 70% sheep milk. As global milk production, inclusive of cow, buffalo, goat, sheep, and camel milk, surged by 1.1% to approximately 887 million metric tons in 2021, according to The Organization for Economic Co-operation and Development (OECD), the increased production of sheep and goats' milk significantly contributes to the demand for the feta cheese market.
The burgeoning demand for quick-service restaurants (QSRs) is poised to propel the expansion of the feta cheese market. Feta cheese, renowned for its versatility, affordability, and extended shelf life, has gained popularity in many Mediterranean dishes and is increasingly becoming a sought-after ingredient in quick-service restaurants (QSRs). MediaRadar reported a significant increase in consumer spending, soaring by 12% from 2020 to $300 billion in 2021, underscoring the escalating demand for QSRs. Hence, the surging inclination towards quick-service restaurants is a driving force behind the growth of the feta cheese market.
Innovative product developments are gaining traction as a prominent trend within the feta cheese market. Key industry players are actively exploring inventive solutions in the food service segment for feta cheese. Major players in the feta cheese market are directing their efforts towards introducing innovative products, such as Pure-Pak cartons, as a strategic edge in the market. These cartons, crafted from renewable and recyclable materials, are engineered to safeguard the freshness and quality of various beverages.
The lightweight nature of the Pure-Pak carton coupled with its user-friendly pourability caters to the convenience of both home cooks and professional chefs. Furthermore, featuring a resealable spout, it facilitates easy dispensing and storage of the cheese. This pioneering packaging solution possesses the potential to transform the packaging and consumption landscape of feta cheese worldwide.
Europe was the largest region in the feta cheese market in 2023. Asia-Pacific is expected to be the fastest-growing region in the feta cheese market during the forecast period. The countries covered in the feta cheese market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Scope
- Type: Bulgarian Feta; French Feta; German Feta; Other Types
- Distribution Channel: B2B; B2C
- Key Companies Mentioned: Arla Foods amba; Lactalis American Group Inc.; Fonterra Co-operative Group Limited; Saputo Inc.; The Kraft Heinz Company
A selection of companies mentioned in this report includes
- Arla Foods amba
- Lactalis American Group Inc.
- Fonterra Co-operative Group Limited
- Saputo Inc.
- The Kraft Heinz Company
- Dodoni S.A.
- Kolios S.A
- Mevgal
- Saudia Dairy and Foodstuff Company
- Clover Leaf Cheese Ltd.
- Carr Valley Cheese
- Agropur Cooperative
- Churney Company Inc.
- Organic Valley
- Amul
- Bel Brands USA Inc.
- Fage International S.A.
- Epirus S.A.
- Karoun Dairies LLC
- Vermont Creamery
- Lemnos Foods
- Mt Vikos
- Pastures of Eden
- Olympus Dairy
- Crystal Farms
- Arahova Products Distribution Inc.
- Old Europe Cheese
- Bethel Creamery
- Klondike Cheese Company
- Sierra Nevada Cheese Co.
- Makedonia S.A.
- Valbreso
- Verde Farm
- Domi Greece
- Kasseri S.A.
- Naxos Dairy
- Tresomega Nutrition
For more information about this report visit https://www.researchandmarkets.com/r/n77xcx
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