Hummus Market Synopsis
According to a Comprehensive Research Report by Market Research Future (MRFR), “Hummus Market Information by Type, Packaging, Distribution Channel, and Region — Forecast till 2027”, the market could touch approximately USD 6682.18 million by 2027, thriving at a rate of 12.84% between 2020 and 2030.
Hummus is one of the most popular food products in the Middle East, used as a dip or spread, and contains several minerals, protein, fiber, and vitamins. All of the ingredients present in hummus are known as superfoods, some of which are garlic, chickpeas, sesame seeds as well as olive oil. Iron, vitamin B complex, and phosphorus are found abundantly in chickpeas. Tahini contains high levels of calcium, zinc, phosphorus, and copper. Lemon juice contains vitamin C coupled with antioxidants. Garlic gives flavor to hummus and has a lot of antioxidants, vitamins, and trace minerals.
The soaring demand for packaged products, mostly in Western Europe, combined with the surging preference for plant-based proteins as well as the prevalence of healthy eating habits will benefit the worldwide market.
𝐓𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐢𝐬 𝐏𝐫𝐢𝐜𝐞𝐝 𝐚𝐭 (𝐒𝐢𝐧𝐠𝐥𝐞 𝐔𝐬𝐞𝐫) — 𝐂𝐥𝐢𝐜𝐤 𝐇𝐞𝐫𝐞 𝐓𝐨 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞: https://www.marketresearchfuture.com/sample_request/1585
Market Competitive Landscape:
The affluent companies in the hummus market are
Haliburton International Foods Inc. (California)
Sabra Dipping Co. LLC (U.S.)
T. Marzetti (U.S.)
Tribe Mediterranean Foods Inc. (Massachusetts)
Churny Company Inc. (U.S.)
Cedar’s Mediterranean Foods Inc. (Massachusetts)
Pita Pal Industries Inc. (Texas)
June 2022
US food developer Ithaca Hummus has allied with Grillo’s Pickles to introduce its latest pickle-flavored hummus. This new product combines Grillo’s Pickles’ fresh and clean ingredients with Itahaca’s cold-crafted hummus.
Market Drivers:
Hummus’ rising popularity backed by globalization and the rapid diaspora spread is a key growth inducers in the global market. Hummus Market enjoys a significant consumption rate across the globe, given the surging disposable income as well as lifestyle changes. Other factors for the mounting product demand include the soaring number of quick service restaurants, the emergence of new food service apps, growing health awareness, and urbanization. Consumer preference among consumers for artisanal food items and the continuous launch of newer flavors could also foster further market growth. Extensive R&D, technical advances in processing methodology, and innovations in packaging technology are some of the key opportunities that manufacturers can be presented in the years to come. The growth in the health-conscious population base and hummus increasingly being viewed as a nutritious dish can be a huge opportunity as well.
Market Restraints:
The global market can face a couple of downsides, with the significant challenge being the fact that due to refrigeration, hummus generally changes the texture and are therefore, not purchased in bulk by consumers. This attributes to its weakened demand among consumers.
COVID 19 Analysis
The COVID-19 outbreak’s notable impact has led to various repercussions on the health status of people across the world. The aftermath is linked with the significant social and economic burden on people worldwide. While the major policymakers are implementing new frameworks and industries are adopting advanced models of expansion to maintain their relevance, people are facing a series of mental trauma.
Around the world, the rising cases have spurred mental, and economic issues, especially among the elderly. Additionally, the younger populace has been dealing with challenges owing to the loss of livelihoods and is opting for family care to address the repercussions. The focus is largely on the treatment of COVID-19 and the development of a vaccine, which steers attention away from other markets. However, the demand for natural, plant-based products has risen considerably, to remain healthy and foster well-being. This should greatly benefit the global industry in the long run.
Market Segmentation
By Type
The types of hummus market sold the include lentils, classic, edamame, garlic, black, white, and others. The report classifies classic hummus as the leading segment in the market.
By Packaging material
Packaging materials, like jars/bottles, tubs/cups, and more have been considered in the study. Tubs/cups have seized the biggest portion of the global market since these are available in varying serving sizes, making them convenient while packaging.
By Distribution Channel
Distribution channels including supermarkets, convenience stores, e-commerce, and hypermarkets are the segments specified in the report based on the hummus market. The Supermarkets & hypermarkets segment has a share of 65.4% in the market, given that the consumers have the option of expansive ranges of products available in these channels.
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Regional Insights
The USA has risen as the most successful market. The rapidly surging tourism sector along with hoteling in the country, the strong impact of social media, and the huge prominence of the diaspora and expats are the top growth enhancers in the market. Hummus sales in the US are soaring at an impressive pace, as a large number of Middle Eastern people are migrating to the country and introducing their traditional cuisines. Therefore, hummus has emerged as an exotic dish among Americans who are more than willing to buy it. Additionally, with the upsurge of vegetarians and vegans in the country, hummus is now viewed as an excellent addition to the diet.
The Middle East and African market is set to exhibit a strong CAGR in the coming years, as hummus is a traditionally popular dish in the region. Saudi Arabia, Kuwait, Israel, and UAE are the biggest markets for hummus in the region since many of the firms are introducing new products that are slight variations of the original hummus. Some of these include black olive hummus, red pepper hummus, roasted garlic hummus, and white bean hummus.
Browse In-depth Market Research Report (116 Pages) on Hummus: https://www.marketresearchfuture.com/reports/hummus-market-1585
NOTE: Our Team of Researchers is Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for a Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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