Hummus Market size is projected to reach approximately USD 6682.18 million by 2027, at a CAGR of 12.84% from 2020 to 2027.
Hummus Market Overview
Hummus Market size is projected to reach approximately USD 6682.18 million by 2027, at a CAGR of 12.84% from 2020 to 2027. The food products consuming Hummus in the form of dips and snacks and spread have increased due to its healthy digestive components. The rising demand for healthy snacks is well known in the form of garlic, tahini, and chickpea.
One of the major factors contributing to the increasing consumption of Hummus is the increasing health consciousness among the consumers post the pandemic. Because it is rich in minerals, proteins, and vitamins that help with the healthy regulation of the body's metabolism, it is consumed on a higher level. It is preferred more. Along with the body's metabolism, it also helps maintain healthy skin and derma properties. Apart from this, its abundant availability ensures that the product is widely present in the market. The pandemic hugely affected the Hummus Market. The market faced a downfall because the food industry did not bulk its abundance during the same. People started preferring homemade food without any contact from outside, but over time, the situation.
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, the hummus market predicts 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, the hummus market forecast is expecting rapid expansion.
Market Segment Overview
The hummus market has more scope for development as it is segmented into hummus types, packaging materials, distribution channels, and regions.
The 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 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.
Geographically, the 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 expected 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:
The global market includes many diversified international competitors with a multitude of dynamics. New players are entering this competitive landscape, driving the hummus market.
In April 2021, the firm Ithaca Hummus announced its merging with the hummus 17oz, bringing two new flavours into the market. The flavours were lemon and garlic, which also had the launch of bigger size packs and increasing dips.
In March 2021, FoodStory Brands launched a Fresh Craving dip line under the roasted and classic flavour, which led to a huge product quality and range expansion. Along with this, a few other developments are down the track that majorly drives the Hummus Market.
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.
By Packaging Material
By Distribution Channel
Rest of Europe
Rest of the world
|Market Size||USD 6682.18 Million|
|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 Vendors||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)|
|Key Market Opportunities||Manufacturers Moving Towards Production Of Organic Hummus, Smart Marketing By The Global Hummus Manufacturers|
|Key Market Drivers||Rising Trend Towards Healthy Diet Among The Population|
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).
Hummus Market CAGR would be 12.84% during the forecast period.
Hummus Market valuation would be USD 6682.18 million by 2027.
North America holds the largest share in the global hummus market.
The tubs/ cups market would dominate Hummus Market.