Hummus Market Research Report – Forecast to 2027

Hummus Market Research Report - by Type (Classic Hummus, Lentil Hummus, Edamame Hummus, Garlic Hummus, Black Hummus and White bean Hummus) Packaging (Tubs/Cups, Jars/Bottles and others) and by Distribution Channel - Forecast till 2027

Q: What was the Market for Hummus valuation in 2017?

Hummus Market valuation was USD 200 million. . Read More

Q: By packaging, which segment would dominate the Market for Hummus?

The tubs/ cups market would dominate Hummus Market. . Read More

ID: MRFR/F-B & N/1056-CR | February 2021 | Region: Global | 116 pages

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Hummus Market Overview

Hummus Market estimates an increase in the market growth rate of 12.84% for the forecast period. These recent years, the immense popularity of hummus can be seen in the Hummus Industry Growth. This has motivated hummus producers to gear up their production volume and prioritize implementing powerful marketing strategies to enhance their consumption. Since the major market influencers are introducing multiple organic variants to fulfill the evolving consumer needs, the global market is expecting further enhancement in sales drive in the forecast period.

As per the Hummus Market Trends report, consumption growth has increased at an impressive rate in the past few years. Hummus is a native food item in the Middle East region, which is used as a dip, spread, or savory dish. It is prepared from cooked or mashed chickpeas, blended with tahini, garlic, and lemon juice. Typically, hummus is garnished with olive oil, paprika, parsley, and a few whole chickpeas. Middle eastern countries such as Levant, Israel, and Egypt are most frequent in producing this food product, while other global regions use hummus as an exotic food item. This creates a greater opportunity for commercial production of hummus that helps in increasing Hummus Market Size.

Another significant factor for Hummus Market's growth is the use of its ingredients, which are chickpeas and other legumes. Furthermore, these plant-based proteins and nutrients include Vitamin-B, calcium, folate, iron, magnesium, potassium, phosphorus, zinc, etc. Hummus industry Trends has penetrated the global market at a compelling pace as the major key players are experimenting with this traditional recipe to invent new tasteful and exciting flavors. The current global Market value is measured at USD 2,009.54, i.e., expected to increase significantly in the coming year. There is an increasing inclination of global food trends towards health-conscious lifestyle choices with plant-based protein and going vegan. Since hummus matches the consumers' healthy food demand, it has become a suitable snacking option. Due to the use of functional ingredients and better nutritional value, Hummus industry growth is increasing.

COVID-19 Impact Analysis

Hummus Market Size has been drastically affected by COVID-19 due to various obstacles regarding market performance. The Hummus Industry Revenue witnessed the downside of the pandemic situation, especially disruption in the production of raw material affecting the supply chains. There are also uncertainties about weather conditions, which have given rise to operational efficiencies. Hummus product distribution chain has been completely stopped due to the sudden shutdown of national and international boundaries. However, with the major key drivers striving to revive the economies and normalize hummus industry operations, consumer demand for hummus has been presumed and predicted to rise more in the forecast years.

According to Hummus Market Analysis, most hummus manufacturers adapt to online product shipping to expand the business. Consumers prefer to order products online to avoid public outgoing and potentially getting in contact with the virus. By following the strict sanitation guidelines, the retail food channels are already operating the Hummus Industry. Manufacturers are taking extra measures to limit contact while food transporting and distributing and highlighting proper hygiene practices.

Market Dynamics

Major Drivers of the Market

The major market drivers of the hummus market offer the consumer a multitude of options for flavors and innovative recipes of hummus which has successfully worked in favor of reaching a wider audience and increase its offering to existing customers. Various exotic flavors like basil pesto, roasted garlic, avocado, roasted red pepper, peri-peri, etc., offer savory hummus options. Additionally, a dessert hummus dips option is also available for health-conscious consumers with flavors like vanilla bean, brownie batter, and snicker-doodle. Ice cream has been considered a high-calorie dessert option. However, the global market also introduced hummus ice cream as a highly proteinaceous option, increasing consumers' demand.

Global Market Opportunities

According to the Hummus Market Forecast report, the global market brings more opportunities for the major key players. As hummus is cheap and easy to prepare, it is an incredible alternative for other fat-based light snacks. Consumers putting more value into being health conscious and choosing food products with healthy ingredients and nutritional value, the global market are enhancing its pace in various regions. Variety of flavors and innovative approaches to serving hummus in various forms of food option, the Hummus Industry Outlook seems taking a positive direction to reach a broader audience.

Market Restraints

The Hummus Market might experience market restraints due to fluctuation in the prices of raw materials. With many innovations going on with the recipe, various types of ingredients are bound to be explored. And to keep up with their healthy standard, many raw materials can get pricy. Furthermore, distributing them across many global regions can again raise their price value.

All the market players observe all kinds of market restraints from their Hummus Market Outlook to develop the hummus industry while bringing lots of innovative and productive results to the industry.

Market Growth Challenges

Even though preparing hummus would require fewer raw materials and a limited number of ingredients involved, most of them are plant-based and include fats. This might influence the hummus products' price and yield due to changes in climate conditions fluctuation. This potentially can create a challenging condition in the Hummus Market Growth.

In addition to this, Hummus Market Forecasts predict positive growth, with the market players' rate of developing various strategies to counter these challenges. With an innovative approach, the global market can witness more growth in the forecast period.

Cumulative Growth Analysis

The hummus market analysis report shows many growth factors for the Global Market. With consumers acquiring a more health-conscious mindset, there is an increasing demand for organic hummus. The manufacturers also cater to that demand, offering ample opportunity for growth in the global Market Share. Product manufacturers are producing vegan, non-GMO, gluten-free, and kosher hummus that is safe to consume and in high demand in the hummus industry.

As the players use intelligent market strategies and advertising, Hummus Market Forecast is expecting rapid expansion in the hummus industry.

Market Segment Overview

The hummus market has more scope for development as it is segmented into hummus types, packaging materials, distribution channels, and regions.

By Type

The hummus market is classified into classic, lentil, garlic, edamame, white, black, and others based on the hummus type segment. According to the market analysis report, classic hummus currents have the most value in the global Hummus Industry Share. Consumers prefer the original hummus flavor, and there is an expectation of 13.42% growth in the CAGR of the forecast period.

By Packaging material

Packaging materials, such as tubs/cups, jar/bottles, and others further segment the hummus market. Tubs/cups have a major share in the market as they come with variable serving sizes convenient for packaging products. The jars/bottles expect to bring more Hummus Industry Revenue as consumers prefer non-plastic containers that allow more storage.

By Distribution Channel

Distribution channels such as convenience stores, supermarkets, hypermarkets, e-commerce, etc further segregate the hummus market. The Supermarkets & hypermarkets acquire 65.4% of the total market share, as consumers find an extensive collection range available easily in such channels. But as the product is getting highly popular in convenience stores and e-commerce retails, it is helping with driving hummus sales in the global market.

Regional Analysis

Geographically, the hummus market is classified into various market regions such as Asia Pacific, North America, Europe, and the rest of the world. North America is considered the largest global market as its shares up to 50% of the Hummus Market Share led by the U.S. and is expecting to grow the rate of CAGR at 14.24%. This region is considered to have a high hummus consumption rate while developing innovative hummus products. Additionally, there is a growing rate of the immigrant population from the Middle Eastern population in North America, influencing sales growth. Furthermore, their intensive marketing strategies and advertisements are leading to the increasing demand for these products globally,

Competitive Landscape Analysis

According to the global report for Hummus Market Share, there is high competition across the globe. Some of the major key players are:

Sabra Dipping Co., LLC

Haliburton International Foods, Inc.

Tribe Mediterranean Foods, Inc.

The global market includes many diversified international competitors with a multitude of dynamics. New players are entering this competitive landscape, driving the hummus market growth.

Recent Development

In May 2018, SAJJ Mediterranean Launched the chocolate hummus low in fat, sodium, and carbohydrates.

In April 2018, Sabra Dipping Co. launched a new hummus recipe featuring jackfruit.

Report Overview

According to hummus market analysis, various quantitative and qualitative analyses have been done to measure the performance of the global market. The report bears information regarding market segments, market dynamics, market overview, regional analysis, competitive analysis, and some recent developments in the market.

Other than that, the Market analysis report also highlights various key market strategies the market leaders are putting into action to drive the growth of the hummus market in the forecast years.

Segmental Table

By Type

Classic

Garlic

Lentil

Edamame

White

Black

Others

By Packaging Material

Tubs/Cups

Jars/Bottles

Others

By Distribution Channel

Convenience Stores

Supermarkets & Hypermarkets

E-Commerce

Others

By Region

North America

Canada

Mexico

Europe

The U.K.

Germany

France

Spain

Italy

Rest of Europe

Asia Pacific

China

Japan

India

Taiwan

Republic of Korea

Rest of Asia Pacific

Rest of the world

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Frequently Asked Questions (FAQ) :

What was the Market for Hummus valuation in 2017?

Hummus Market valuation was USD 200 million.

What is the projected CAGR of the Market for Hummus during the forecast period of 2018-2027?

Hummus Market CAGR would be 12.84% during the forecast period.

What would be the Hummus Market valuation by 2027?

Hummus Market valuation would be USD 6682.18 million by 2027.

What are the players involved in the Market for Hummus?

Players involved 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), and Pita Pal Industries Inc. (Texas).

By packaging, which segment would dominate the Market for Hummus?

The tubs/ cups market would dominate Hummus Market.

1 Executive Summary

2 Market Introduction

2.1 Definition 20

2.2 Scope of the Study 20

2.3 Assumptions 20

2.4 Market Structure 21

2.5 Key Takeaways 21

2.6 Key Buying Criteria 22

3 Research Methodology

3.1 Research Process 24

3.2 Primary Research 24

3.3 Secondary Research 25

3.4 Market Size Estimation 26

3.5 Forecast Model 27

4 Market Dynamics

4.1 Introduction 29

4.2 Drivers 29

4.2.1 Growing demand for plant based protein 29

4.2.2 Rising trend towards healthy diet among the population 29

4.2.3 Growing demand for packed hummus products in the U.S. 30

4.2.4 Drivers Impact Analysis 30

4.3 Restraints 30

4.3.1 Fluctuation in the prices of raw materials 30

4.3.2 Restraints Impact Analysis 31

4.4 Opportunities 31

4.4.1 Manufacturers moving towards production of organic hummus 31

4.4.2 Smart marketing by the global hummus manufacturers 31

4.5 Challenges 31

4.5.1 Branding issues 31

5 Market Factor Analysis

5.1 Value Chain Analysis 33

5.2 Supply Chain Analysis 35

5.3 Porter’s Five Forces Analysis 35

5.3.1 Threat of New Entrants 36

5.3.2 Bargaining Power of Suppliers 36

5.3.3 Threat of Substitutes 37

5.3.4 Bargaining Power of Buyers 37

5.3.5 Intensity of Rivalry 38

6 Hummus Market, By Type

6.1 Overview 40

7 Hummus Market, By Packaging Type

7.1 Overview 46

8 Hummus Market, By Distribution Channel

8.1 Overview 50

9 Global Hummus Market, By Region

9.1 Introduction 55

9.2 North America 55

Hummus Market, By Type