At CAGR of 6.9% Food Service Feta Cheese Market is projected to reach $3,816.8 million by 2030 | Allied Market Research

WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATE, November 23, 2023 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Food Service Feta Cheese Market by Type, Source, Distribution Channel, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,”The global food service feta cheese market size was valued at $2,187.5 million in 2019 and is expected to grow at a CAGR of 6.9% to reach the market size of $3,816.8 million in 2030. French feta was the dominant segment in the type category in 2019 and is expected to continue the dominance throughout the forecast period. Europe was the largest regional market in 2019, and is expected to continue the trend throughout the forecast period. Feta cheese is a white colored brined cheese that is made with a combination of goat, sheep or cow milk. It is very popular in Europe and North America, and is gaining traction/popularity in the Asia-Pacific region. Feta cheese is used in all sorts of dishes ranging from appetizers to desserts.

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The food service feta cheese market is subject to notable growth during the forecast period. The growth of this market can be attributed to growing affinity of people toward prepared meals/takeaways that include cheese from food service outlets. Moreover, growing reliance on convenience among working population coupled with rise in the number of options to acquire food has paved the way for the growth of food service feta cheese market. Furthermore, feta cheese is known to be an excellent source of micro and macro nutrients that aid in the healthy functioning of the body, which makes it very popular among the health conscious cohort of the global population.

However, growing adoption of veganism acts as the major restraint in the growth of feta cheese and other dairy/animal products. Consumers are shifting away from animal sources and toward plant-based ones which can be related to increased anti-meat sentiments, and concerns over animal cruelty. Consumer preferences are evolving toward plant-based alternatives because to a growing desire for clean-label products, worries about sustainability, and a pressing need to avoid allergens. On the contrary, growing adoption of feta cheese in untapped countries in the Asia-Pacific and LAMEA region as well as growing adoption of western diet and lifestyle in such regions is expected to open avenues for the food service feta cheese market growth.

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The food service feta cheese market is segmented by type, source, distribution channel, application and region. Based on type, the market is split into Bulgarian Feta, German Feta, French Feta, PDO Feta, and Others. By source the market is classified into cow milk, sheep milk, and goat milk. Based on distribution channel, the market is divided into full-service restaurants, fast food outlets, catering services, bakeries/pastries, and others. By application, the market is segmented into salads, pastries, sandwich, pasta, meat, pizza, and others recipes. By region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Greece, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Indonesia, Singapore, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, UAE, Nigeria, Turkey, and Rest of LAMEA)

Based on food service feta cheese market analysis by type, French Feta was the largest segment in terms of value and volume in 2019 and is expected to retain its dominant position throughout the forecast period. The growth of this segment can be attributed to high availability of this variant of the feta cheese. Bulgarian feta was the fastest growing variety of feta cheese during the forecast period. This is due to milder taste and rise in adoption of this form of feta due to growing curiosity among cheese enthusiasts al around the world.

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Based on food service feta cheese market forecast by source, sheep milk was the dominant segment in the category. It was valued at $1,259.8 million in 2019 and is expected to garner a market size of $2,124.8 million by 2030 growing at a CAGR of 6.5%. On the contrary, the cow milk segment was the fastest growing segment throughout the forecast period.

Based on distribution channel, fast food outlets accounted for majority of the global share in 2019 and is expected to continue the trend throughout the forecast period. The growth in this segment in food service feta cheese market can be attributed to growing dependency of consumer on such food vending formats. The full-service restaurant segment is expected to grow at the fastest growth rate throughout the forecast period. The growth of this segment can be attributed to rise in the inclusion of different feta cheese options in such food service establishments.

Based on the application, salads, sandwich and pizza accounted for majority of the share in 2019 with salads leading the market in terms of volume and value share. Pasta is estimated to grow at the fastest growth rate of 8.1% throughout the forecast period.

Based on region, Europe was the largest market in 2019 and is expected to remain dominant throughout the forecast period. However, Asia-Pacific was the fastest growing regional segment in the food service feta cheese market.

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Key Findings Of The Study

On the basis of type, the Bulgarian feta segment is projected to witness the highest CAGR of 7.2%, in revenue terms, during the forecast period.

On the basis of source, the sheep segment is expected to dominate the market from 2021 to 2030.

The fast food outlets segment in the distribution channel category is expected to grow at a significant CAGR during the forecast period.

U.S. was the largest country, in terms of revenue generation for food service feta cheese in 2020.

Asia-Pacific is anticipated to witness highest growth rate, registering a CAGR of 8.1% from 2021 to 2030.

The food service feta cheese market is for the most part an organized market which is dominated by few players. The key players in the food service feta cheese industry relies on strategies such as product launch and acquisition to stay relevant in the global food service feta cheese market share. The key players profiled in the report are Arla Foods AMBA, Fonterra Co-Operative Group Limited, Dodoni S.A., Mevgal, Clover Leaf Cheese Ltd., Lactalis American Group, Inc, Saputo Inc., The Kraft Heinz Company, Kolios S.A, And Sadafco

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David Correa
Allied Analytics LLP
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