According to a new report published by Allied Market Research, titled, “Feta Cheese Market by Source, Type, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2028,”
The global feta cheese market size was valued at $10.5 billion in 2019, and is anticipated to reach $15.6 billion by 2028, with a CAGR of 5.7% during the forecast period. The market is expected to exhibit an incremental revenue opportunity of $5.0 billion from 2019 to 2028.
Feta cheese is obtained from sheep and goat milk. It is very nutritious and tasty. It is a useful ingredient served in a variety of dishes, toppings of sandwiches, salads & snacks, and others. The fat content present in feta cheese is low as compared to other cheese. It is manufactured in Germany and then exported to other countries. It is always included in the German diet.
Increase in fast food consumption and rise in awareness among people about the health benefits of feta cheese drive the demand for cheese products. Moreover, surge in popularity of European food culture is the major factor that drives the growth of the feta cheese market. Furthermore, immigrants have the habit of carrying their culture wherever they migrate, which has a significant impact on the modern food culture.
For instance, pasta and pizza are common food consumed in the western countries. With upsurge in demand for feta cheese, advancements in technologies in the cheese industry have led to rapid curing of feta cheese. Different flavors of feta cheese available in the market, improvement in quality of feta cheese, and various other enhancements are carried out to meet the demand of feta cheese across the globe.
However, rise in concern of people toward their health due to feta cheese consumption, perishable nature of cheese, and lack of proper storage facility are the key restraints of the feta cheese market. On the contrary, with innovation in cheese making techniques, low-fat, and low-cholesterol feta cheese are manufactured to meet the demands of health-conscious people, which drive the feta cheese market growth.
According to the feta cheese market analysis, the market is segmented on the basis of source, type, distribution channel, and region. Based on source, the feta cheese market is categorized into cow milk, sheep milk, and goat milk.
Sheep milk are widely used globally and is one of the prime sources of the feta cheese; thus, is expected to influence the overall feta cheese industry. The sheep segment was valued at $6.9 billion, and is expected to grow with a CAGR of 5.4% from 2021 to 2028, to reach $9.1 million by 2028.
By type, the German feta cheese segment held a major feta cheese market share, and is expected to remain dominant throughout the feta cheese market forecast period. This is attributed to its delectable taste. Moreover, increase in fast food consumption, where feta cheese is mostly used, is the key factor that fuels the growth of the German feta cheese segment.
Based on distribution channel, the B2B segment was the leading channel with maximum share in 2019, growing with significant CAGR during the forecast period. This is attributed to increase in business of retail sales in different regions and availability of large shelf space for maximum sales.
Region wise, Europe was the prominent region in 2019, garnering maximum share in the feta cheese market, owing to huge consumer base, major production area, and increase in population. SMEs operating in the region are targeting online sales channel to increase their sales. These companies are further investing in various marketing and advertising activities to increase their products awareness. In addition, surge in penetration of feta cheese among consumers is anticipated to fuel the market growth during the forecast period.
The key players profiled in this report include are 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, and Clover Leaf Cheese Ltd.
Key findings of the study
- The German feta cheese market size was valued at $4.1 billion in 2019, and is anticipated to reach $5.7 billion by 2028, with a CAGR of 5.0% during the forecast period.
- In 2019, by source, the sheep milk segment held the highest share, accounting for 60.6%.
- Depending on distribution channel, the B2C distribution segment is estimated to exhibit the highest CAGR of 6.2%.
- In 2019, Europe was the most prominent market, and is expected to grow at a significant CAGR throughout the forecast period.
- The report provides a competitive scenario of the market, with current feta cheese market trends, future estimations, structure, driving factors, scope, opportunities, and challenges.