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Feta cheese Market to Garner $15.6 Bn, Globally, by 2028 at 5.7% CAGR: Allied Market Research
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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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.
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.
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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