Global Hummus Market Size Set to Experience Exponential Growth at 14.7% of CAGR, Predicted to Reach USD 10.21 Billion by 2030

Los Angeles, CA, March 20, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Hummus Market By Distribution Channel (Grocery Stores, Convenience Stores, Supermarkets & Hypermarkets, And Online Retail), By Flavor (Roasted Red Pepper, Roasted Garlic White Bean, Creamy Avocado, Black Bean, Smoky Sweet Potato, And Others), By Packaging (Jars, Bottles, Cups, And Tubs), By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030” in its research database.

“According to the latest research study, the demand of global Hummus Market size & share in terms of revenue was valued at USD 3.6 billion in 2022 and it is expected to surpass around USD 10.21 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 14.7% during the forecast period 2023 to 2030.”

What is Hummus? How big is the Hummus Industry?

Hummus Market Coverage & Overview:

The global hummus market size was worth around USD 3.6 Billion in 2022 and is predicted to grow to around USD 10.21 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 14.7% between 2023 and 2030.

ummus, which is sometimes also spelled as houmous or hommus, is a dip that originated in the Middle East but has become a common household edible item across the world in the last few decades. It can be used as a savory dish, spread, or dip. The main ingredient required to prepare hummus is chickpeas which are blended with garlic, lemon juice, and tahini. However, food items have undergone a massive transformation over the years especially in terms of ingredients since at present, there are innumerable flavors of hummus available for consumption.

Chickpeas have a good amount of vitamin B6, dietary fiber, protein, and manganese along with other nutrients which makes hummus, an exceptionally healthy dip as opposed to its counterparts which are generally high in calories and unhealthy fats. In traditional hummus, 100 grams contain 170 calories which act as a supplier of essential nutrients. Fat content in hummus is around 14%, which is imparted from olive oil and tahini used during the preparation.

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Global Hummus Market: Growth Factors

The global hummus market is projected to be driven due to the exponentially rising demand for clean protein derived from plants. Many consumers prefer to get their daily dose of protein from plants since they have higher health benefits as compared to animal-based protein. Additionally, more people are opting for a plant-based diet. Hummus has managed to benefit from this trend since it is an excellent source of plant protein owing to the main ingredient being chickpeas.

Hummus is generally regarded as one of the healthiest dips available in the commercial market due to its limited calories and relatively low cholesterol level. The rising number of people who are proactively making decisions that positively impact their health is expected to help in increasing the demand for hummus. It is also an extremely easy food item to prepare since it requires minimum ingredients and the cooking involves an easy-to-follow process. Hence it has become a popular snacking item as it does not require extensive efforts for preparation. The global market is full of brands and each brand has to offer multiple types of hummus variants ranging in flavor, size, and additional ingredients. This acts as an excellent marketing technique to attract more consumers.

However, the hummus industry could come across certain growth restrictions during the forecast period mainly due to the high price sensitivity of the raw materials and the final product. Additionally, hummus is relatively higher priced as compared to other available dips making it a part of the luxury segment of food items. It also has an extremely short shelf life as compared to other packaged goods. It means that the product has to be consumed within a few days of preparation and cannot be stored for a long time. Other factors like sustainability issues due to chickpeas being a water-intensive crop and growing cases of intolerances or allergies could further impact the global industry.

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Market Size: The hummus market is a growing industry with a significant market size, and it is expected to continue growing in the future.

Consumer Trends: There is a growing trend towards healthy eating and plant-based diets, which has led to an increased demand for hummus as a healthy and nutritious snack or meal option.

Product Varieties: The hummus market offers a wide range of products, including traditional hummus, flavored hummus, and organic hummus, among others.

Distribution Channels: The distribution channels for hummus include supermarkets, hypermarkets, convenience stores, online retail, and others.

Competitive Landscape: The hummus market is highly competitive, with several key players dominating the market. Companies are focusing on expanding their product portfolios, improving distribution networks, and enhancing their brand value to remain competitive.

Regional Analysis: The hummus market is growing globally, with North America, Europe, and the Middle East & Africa being the major markets. The growth in these regions is driven by factors such as increasing health consciousness, changing dietary preferences, and growing awareness of the health benefits of hummus.

Product Innovation: Companies are investing in research and development to introduce new flavors, ingredients, and packaging options to meet the changing consumer preferences and stay ahead of the competition.

Pricing Strategy: The pricing strategy of hummus products varies depending on factors such as quality, brand reputation, and target market. Some companies are offering premium-priced hummus products, while others are focusing on providing affordable options to appeal to a wider audience.

Supply Chain Analysis: The hummus market relies heavily on a global supply chain that involves several stakeholders, including farmers, manufacturers, distributors, and retailers. Companies are adopting sustainable practices to ensure the sustainability of their supply chains and minimize their environmental impact.

Regulatory Environment: The hummus market is subject to various regulations and standards related to food safety, labeling, and packaging. Companies must comply with these regulations to ensure the quality and safety of their products and maintain consumer trust.

Report Scope

Segmentation Analysis

Based on distribution channel, the global market is segmented into grocery stores, convenience stores, supermarkets & hypermarkets, and online retail.

• Although the choice of supplier depends on the quantity of the product and accessibility, in 2021, supermarkets & hypermarkets led the segmental growth
• The trend was attributed to the excellent variety of options available at these centers at reasonable prices allowing consumers to choose from a wide ray of options instead of being specific to the brand
• Furthermore, supermarkets generally tend to provide discounts or special offers attracting more buyers
• In 2022, Walmart registered more than 229 million customer visits weekly

Based on flavor, the global market divisions are roasted red pepper, roasted garlic white bean, creamy avocado, black bean, smoky sweet potato, and others

Based on packaging, the global market divisions are jars, bottles, cups, and tubs.

• The year 2022 was dominated by the tubs segment since it is the most common form of packaging type used to store and sell hummus
• The tubs can be made of different materials including glass or plastic and come in various sizes including family-sized or single-use
• Other popular forms of packaging include packets and squeeze tubes which are gaining popularity amongst product providers since they offer ease of use and are cost-effective
• As per recommendations, eating more than 4.5 tablespoons of hummus can cause digestive issues

The global Hummus market is segmented as follows:

By Distribution Channel

• Grocery Stores
• Convenience Stores
• Supermarkets & Hypermarkets
• Online Retail

By Flavor

• Roasted Red Pepper
• Roasted Garlic White Bean
• Creamy Avocado
• Black Bean
• Smoky Sweet Potato
• Others

By Packaging

• Jars
• Bottles
• Cups
• Tubs

Browse the full “Hummus Market By Distribution Channel (Grocery Stores, Convenience Stores, Supermarkets & Hypermarkets, and Online Retail), By Flavor (Roasted Red Pepper, Roasted Garlic White Bean, Creamy Avocado, Black Bean, Smoky Sweet Potato, and Others), By Packaging (Jars, Bottles, Cups, and Tubs), By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030”- Report at https://www.zionmarketresearch.com/report/hummus-market

Competitive Landscape

Some of the main competitors dominating the global Hummus market include - 

• Nestle SA
• Agro Tech Foods Ltd.
• Cedars Mediterranean Foods Inc.
• Haliburton International Foods Inc.
• Bakkavor Group PLC
• Harvest Moon Foods
• Boars Head Brand
• Hummus Goodness
• Damai International
• Lakeview Farms LLC
• Fountain of Health
• Kasih Food Production Co.
• Hope Foods LLC.

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Hummus market is likely to expand at a CAGR of around 14.7% during the forecast period (2023-2030).                                                       
• In terms of revenue, the Hummus market size was valued at around US$ 3.6 billion in 2022 and is projected to reach US$ 10.21 billion by 2030.
• The hummus industry is projected to grow at a significant rate due to the growing health consciousness among the population
• Based on flavor segmentation, roasted red pepper was predicted to show maximum market share in the year 2022
• Based on distribution channel segmentation, supermarkets & hypermarkets was the leading channel in 2022
• On the basis of region, North America was the leading revenue generator in 2022

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Key questions answered in this report:

• What is the market size and growth rate forecast for Hummus industry?
• What are the main driving factors propelling the Hummus Market forward?
• What are the leading companies in the Hummus Industry?
• What segments does the Hummus Market cover?
• How can I receive a free copy of the Hummus Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Distribution Channel, By Flavor, By Packaging, And By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The Middle East dominated the global hummus market in 2022 and may continue to do so during the projection period. The growth can be attributed to the high consumption rate of food products in various parts of the region. Hummus originated in the Middle East and continues to be an important part of the staple diet. Growth in the US could be propelled due to the increasing popularity amongst the population. Every year the number of hummus consumers grows tremendously, especially in the health-conscious segment. Europe is an important region for the global industry since the sales volume for the product is very high. Germany recorded more than 70.9 million in sales of hummus in 2018 and by 2026, the number is projected to reach 143.9 million.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In July 2020, Tesco announced the launch of a new yeast-flavored hummus from Marmit. The product is called Marmite Houmous and is priced at £1.50 per pot
• In September 2022, Ithaca Hummus announced the launch of Ithaca Squeeze which comes in a squeezable and portable pouch
• In May 2022, Nuba unveiled 3 new ranges of hummus flavors called Tangy Sweet, Spicy Green, and Classic

Hummus Market: Opportunities
Product portfolio diversification to provide excellent growth opportunities
One of the key measures that businesses provide mass consumer items is the way they handle the diversification of the product portfolio. More growth opportunities can be expected if the market players can roll out more variants of hummus that go along with the varied versions of pita bread, vegetable sticks, and crackers. This will help companies create a new version of snacking experience allowing them to generate a dedicated consumer database. Additionally, continuous research and innovation for ingredients and flavors could help companies stay ahead of their competitors.

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FREQUENTLY ASKED QUESTIONS

• What is hummus market?
• Which key factors will influence hummus market growth over 2022-2030?
• What will be the value of the hummus market during 2022-2030?
• What will be the CAGR value of the hummus market during 2022-2030?
• Which region will contribute notably towards the hummus market value?
• Which are the major players leveraging the hummus market growth?

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