December 2022, Market Research Future has published a Report on the Global Hummus Market
Market Synopsis:
Hummus is a popular Levantine or Egyptian food spread made of cooked, mashed chickpeas, beans, blended with a variety of toppings such as tahini, olive oil, lemon juice, garlic etc. Hummus enjoys wide acceptance in regions of Middle East, and North Africa and has spread to other regions of the globe.
Market Dynamics:
Drivers
Growing popularity aided by globalization, diaspora spread and the tradition of hummus are aiding the hummus market to a high growth. Hummus has enjoyed average global consumption growth rates of 12.84% during the last decade. The rising income and lifestyle changes, growing quick service restaurants network, advent of food services web apps, urbanization, growing awareness of healthy foods, developments of global air conditioned supply chains and trucking are other driver of the market. Increasing preference for artisanal food products, development of newer flavors and growing number of high end restaurants, are aiding the growth of the market. Popularity of hummus is also in part to its being made of ingredients which follow Jewish dietary laws, and it can be combined with both meat and vegetarian meals.
Restraints
Negative effects such as changes in the texture due to refrigeration, transport are the greatest restraint on the market. Value addition is the best strategy in the market. Fluctuations in the price of raw materials and the lack of trading consensus for agriculture products has resulted in seasonal inflation of chick peas, soy, lentils, lemon, garlic, edible oil etc.
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Segmentation:
To generate an accurate assessment of the global hummus market the report has been segmented on the basis of type, application and region.
On the basis of type the market has been sub segmented by classic hummus, lentil hummus, edamame hummus, garlic hummus, black hummus, and white bean hummus.
On the basis of application, the market has been sub segmented by paste & spreads, desserts, sauces & dips and others.
On the basis of Region, the market has been sub segmented by North America, Europe Asia Pacific, Middle East and Africa.
Dynamics Players:
The key market players in the global hummus market are Sabra, Haliburton, Tribe Hummus, Marzetti, Cedar's Mediterranean Foods, Inc. Athenos and others.
Regional Analysis
:
USA and the Middle East holds the largest market share In terms of value led by the traditional hummus producing regions of Middle East. USA accounted for 34 % of the global hummus market by volume in 2020. The high penetration of tourism and hoteling in the U.S., high influence of media, coupled with the growing influence of expats and diaspora are the drivers behind the growth of the U.S. market.
Europe led by Germany, Turkey, France, and the U.K. account for the second largest market. The growing tourism industry is also a strong driver of the market in the Asia Pacific region. The market is expected to shift towards Asia Pacific region led by Japan, China, and India.
The Middle East and Africa regions are expected to demonstrate a high CAGR growth due to the traditional popularity of hummus. The nations of Saudi Arabia, UAE, Kuwait and Israel account for the largest share of the Middle East and Africa market.
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