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Hummus Market

Hummus Market Forecasts to 2028 – Global Analysis By Packaging Type (Jars and Bottles, Tubs and Cups), Application (Soups, Paste and Spreads, Confectionary) and By Geography

4.7 (30 reviews)
Published: August 2021 ID: SMRC20851
4.7 (30 reviews)
Published: August 2021 ID: SMRC20851

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Hummus Market is accounted for $4,662.43 million in 2020 and is expected to reach $9,707.26 million by 2028 growing at a CAGR of 9.6% during the forecast period. The increasing demand for plant-based food, growing adoption of veganism is driving the market growth. However, the effect of natural calamities is hampering the growth of the market.

Hummus is a form of Levantine paste or spreads which is being made by cooking and mashing chickpeas, beans mixed, and sesame seeds with olive oil, tahini, lemon juice, salt, and garlic. Hummus helps to keep the heart and blood healthy while handling weight and it is a rich nutritional profile and a composition of natural ingredients. They are one of the organic and clean label forms of product and are increasingly being chosen by buyers selecting nominally processed and organic plant-based food items.

Based on the end user, the supermarkets and hypermarkets segment is going to have lucrative growth during the forecast period. Supermarkets and hypermarkets are self-service shops that offer wide-ranging merchandise mix along with different brands of products under the same roof. In order to attract the attention of the customer’s altered type of food products such as hummus and its varieties are placed on the shelves of hypermarkets and supermarkets. Hassle-free purchase, better services, and bulk buying facilities offered by hypermarkets and supermarkets entice large number of customers to the store, which helps in making more profits. Hummus is generally preserved in refrigerated zones, beside specialty cheese.

By geography, Asia Pacific is going to have high growth during the forecast period. Due to the growing occurrence of numerous diseases, lifestyle and eating patterns have changed in the region has increased the demand for plant-based protein, and economic growth. Furthermore, the trend of veganism is rising with the growing consciousness concerning the necessity to protect the environment. All these factors propel market growth across the region.

Some of the key players profiled in the Hummus Market include Athenos, Bakkavor Group, Boar’s Head Brand, Cedar’s Mediterranean Foods Inc., Finnish Cheese Company, Fountain of Health, Haliburton International Foods, Hope Foods, LLC, Hummus Goodness, Lantana Foods, Sevan AB, Strauss Group, Tribe Hummus and Vermont Hummus Company.

Report Coverage

Details

Published Year:

2021

Estimated Market Size in 2020:

USD 4,662.43 million

Estimated Period:

2020

Compound Annual Growth Rate (CAGR)  from 2020 to 2028:

9.6%

Predicted 2028 Value:

USD 9,707.26 million

Forecast Years:

2021-2028

Tables, Graphs & Figures

210

Chapters Covered:

Type, Flavor, Source, Packaging Type, Application, and End User.

Core Drivers and Opportunities:

  • Growing demand for packed hummus products in the U.S.
  • Rising popularity of various flavor combinations
  • Increasing focus of manufacturers on introducing innovative products

Restraining Factors & Market Threats:

  • Fluctuating prices of raw materials
  • Increasing product Adulteration


Types Covered:
• Black Olive
• Edamame
• Lentil
• Original/Classic
• Red Pepper
• Roasted Garlic Hummus

Flavors Covered:
• Artichokes
• Basil Pesto
• Jalapeno
• Sun dried Tomatoes  

Sources Covered:
• Black Beans
• Chickpeas
• Kidney Beans
• Lima Beans
• Soybeans
• White Bean  

Packaging Types Covered:
• Jars and Bottles
• Tubs and Cups

Applications Covered:
• Sauces and Dips
• Paste and Spreads
• Soups
• Confectionary

End Users Covered:
• Convenience Stores
• E-Commerce
• Grocery Stores
• Online Retail
• Supermarkets and Hypermarkets
• Independent Retail

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Key Questions Answered In The Report

The Global Hummus Market is majorly driven by growing preference for plant-based protein products, rise in the introduction of organic variants, increasing trend towards healthy diet among the population, and rise in the research and development activities.

The roasted garlic hummus segment is growing at a highest CAGR owing to their distinct taste and consumers' preferences to try new flavors and products and the prologue of diverse flavors, such as pumpkin pie, red velvet, chocolate, banana, and others, coupled with consumers' interest in innovative dips.

North America dominated with a significant market share due to rising production and consumption of dips & spreads in the U.S., high consumption of low fat hummus in the region, growing acceptance of veganism in the region.

Asia Pacific market is growing at a highest CAGR owing to the rapid urbanization, acceptance of cross-culture foods, growing disposable income, increasing prevalence of various diseases, rising health-consciousness, and rise in the demand from food sector.

Key players in Hummus Market include Athenos, Bakkavor Group, Boar’s Head Brand, Cedar’s Mediterranean Foods Inc., Finnish Cheese Company, Fountain of Health, Haliburton International Foods, Hope Foods, LLC, Hummus Goodness, Lantana Foods, Sevan AB, Strauss Group, Tribe Hummus and Vermont Hummus Company.

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