New York, US, Nov. 01, 2022 (GLOBE NEWSWIRE) -- Market Overview
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 2027.
Market Synopsis
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 level of calcium, zinc, phosphorus and copper. Lemon juice contains vitamin C coupled with antioxidants. Garlic that gives flavor to hummus 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.
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Report Scope:
| Report Attribute | Details |
| 2027 Market Size | USD 6682.18 Million |
| CAGR | 12.84% (2020–2027) |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Type, Packaging, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing Demand For Plant Based Protein |
| Rising Trend Towards Healthy Diet Among The Population |
Market Competitive Landscape:
The affluent companies in 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 formed an alliance 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 USP Covered:
Market Drivers:
Hummus’ rising popularity backed by globalization and the rapid diaspora spread are a few key growth inducers in the global market. Hummus enjoys significant consumption rate across the globe, in view of the surging disposable income as well as lifestyle changes. Other factors for the mounting product demand can be the soaring number of quick service restaurants, 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 the packaging technology are some of the key opportunities that manufacturers can be presented with 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.
Browse In-depth Market Research Report (116 Pages) on Hummus: https://www.marketresearchfuture.com/reports/hummus-market-1585
Market Restraints:
The global market can face a couple of downsides, with the major challenge being the fact that due to refrigeration, hummus generally changes 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 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, with the aim 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 sold in the market include lentil, classic, edamame, garlic, black, white, and others. The report classifies the classic hummus as the leading segment in the market.
By Packaging material
Packaging materials, like jar/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, as well as 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 traditional 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.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
