ID: MRFR/F-B & N/1056-CR | July 2018 | Region: Global | 116 pages
The consumption of hummus has grown tremendously in recent years. A food item native to the Middle East is now penetrating markets in North America and Asia Pacific (APAC). In countries such as Levant, Israel, and Egypt the product is habitually prepared at home and used as a food dip or spread. Meanwhile, in the U.S. and some of the European and Asian countries hummus is viewed as an exotic food, which is creating opportunities for its commercial production. In 2017, more than USD 2,000 Mn worth hummus was consumed globally. The Global Hummus Market size is projected to exhibit a compound annual growth rate of 12.84% during the forecast period (2018-2027). The sheer increase in popularity of the product has encouraged hummus producers to ramp up production volume and focus towards implementing robust product marketing strategies. At the same time, introduction of organic variants as a response to the changing consumer sentiments towards processed food is expected drive the global sales further.
This MRFR market perspective gives an objective and collective assessement of the global hummus market, with a ten year revenue forecast (2018-2027). It also includes an assessement of the current consumption trends and future prospects. All the imporatnt parameters were gauged thoroughly for drawing conclusions on the hummus market. The scope of the research also covers different types of hummus that are being currently marketed such as classic hummus, lentil hummus, edamame hummus, garlic hummus, black hummus and white bean hummus. Market sizing on the basis of hummus packaging covers tubs/cups and jars/bottles. The primary distribution channels mentioned in the research document include convenience stores, supermarkets & hypermarkets and e-commerce. The segmental presentation of market provided in the report will enable investors to identify new pockets of growth as well as threats that are present in the market.
The global Hummus market research report provides historical market trends, market dynamics, forecast, market value by region as well as by segmentation, country-level analysis for each market segment, key player’s market share analysis and market factor analysis which covers Porter's five forces analysis of the market.
Sabra Dipping Co., LLC (U.S.), Haliburton International Foods, Inc. (California), Tribe Mediterranean Foods, Inc. (Massachusetts), T. Marzetti (U.S.), Cedar's Mediterranean Foods, Inc. (Massachusetts), Churny Company, Inc. (U.S.), Pita Pal Industries Inc. (Texas)
MRFR employs robust research tools which ensure the high accuracy and reliability of the reports. Data is gathered using a combination of primary and secondary research inputs. Primary research method embroils first-hand feedbacks from key stakeholders for information collection and triangulation of data. As a part of secondary research process, our analysts tap into credible public sources such as government websites, whitepapers, annual reports, etc. which provisions validation of primary data. For market forecasting and estimation, our expert analysts implement the use of top-down and bottom-up approaches to provide an all-encompassing view of the market. This assures coagulation of intelligent insights, which assist our clients in making vital and impactful business decisions.
For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global market for hummus
By Packaging Material
By Distribution channel
Frequently Asked Questions (FAQ) :
Hummus Market valuation was USD 200 million.
Hummus Market CAGR would be 12.84% during the forecast period.
Hummus Market valuation would be USD 6682.18 million by 2027.
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).
The tubs/ cups market would dominate Hummus Market.
Chickpeas and other legumes are full of key nutrients such as B vitamins, calcium, folate, iron, magnesium, phosphorus, potassium, and zinc. Chickpeas are also a wonderful source of plant-based protein and are the key ingredient in a traditional middle-eastern hummus. Hummus has grown in popularity at an exceptional pace, with market players innovating on the traditional recipe to create new & exciting flavors and products. The global hummus market is currently valued at USD 2,009.54 and is expected to display an above-average CAGR of 12.84% during the forecast period of 2018 to 2027.
The Levantine specialty is naturally gluten-free and packed with protein and healthy fat. Globally, there has been a growing trend of veganism and an inclination toward healthy food options with an increased focus on plant-based protein. Hummus is a cheap, easy to prepare alternative that is also available in various flavors and is suitable for snacking on or as a part of a light meal, making the preparation highly popular with consumers. The increasing health consciousness of consumers across the world and the growing awareness regarding ingredients and nutritional value have increased the demand for hummus. Moreover, major market players are offering a variety of flavors and innovations in hummus in an effort to reach a wider audience as well as increase offerings to existing customers. Flavors such as basil pesto, roasted red pepper, roasted garlic, avocado, and peri peri are some of the savory hummus options available. Additionally, innovation in the product has led to the launch of dessert hummus dips in flavors like brownie batter, vanilla bean, and snickerdoodle. An American restaurant chain dedicated to hummus and Middle Eastern food has recently launched hummus ice-cream, which has further increased the demand for innovative high protein hummus options.
Although hummus requires limited ingredients, they are mostly plant-based ingredients and fats which due to changing climate conditions fluctuate in price and yield, thus challenging market growth. However, in keeping with the trend toward a health-conscious mindset, consumers are placing a high demand for organic hummus which manufacturers are catering to, providing a massive opportunity for market growth. Vegan, gluten-free, non-GMO and kosher options are in high demand, and the use of intelligent marketing strategies and advertising is expected to provide room for rapid market expansion.
The global hummus market is segmented on the basis of type, packaging, distribution channel, and region. By type, the market is segmented into classic, lentil, edamame, garlic, black, white, and others. Classic hummus presently accounts for the most significant share of the market, due to the preference for the original hummus flavor. The classic hummus type segment is expected to grow at a CAGR of 13.42% during the forecast period. However, changing consumer preferences and the availability of hummus made from different legumes is expected to boost the demand for lentil hummus during the forecast period.
By packaging, the market is segmented into tubs/cups, jars/bottles, and others. Tubs/cups account for the majority share of the market due to its convenient packaging that comes in various serving sizes and is easy to use for dipping right out of the packaging. The jars/bottles segment, which comprises 15% of the total market share is expected to grow due to the preference for non-plastic containers which allow storage.
By distribution channel, the market is segmented into convenience stores, supermarkets & hypermarkets, e-commerce, and others. Supermarkets & hypermarkets possess 65.4% of the total market share as these products, and its wide range of variants are easily available in these locations. However, the increased popularity of the product has increased its appearance on the shelves at convenience stores. Growing popularity of this channel is driving sales of hummus in the global market.
Led by the U.S, North America possesses a share of over 50% of the global hummus market and is anticipated to witness a CAGR of 14.24%. The high consumption of hummus in this region has led to the development of innovative hummus products. The region is also the target of intensive marketing strategies and advertisements which have led to an increased demand for the product. Moreover, the presence of a significant, growing Middle Eastern immigrant population in the region is expected to add fuel to the sales of hummus in North America. The presence of several prominent manufacturers in the region and the propulsion of demand regarding organic food and beverages has positively impacted the growth of the hummus market in the region. Organic food & beverages have gained global popularity, and the demand is leading to various opportunities for well-established packaged hummus brands in North America, consequently leading to further growth for the region.
Significant key players identified in the market review include Sabra Dipping Co. LLC, Haliburton International Foods, Inc., and Tribe Mediterranean Foods, Inc. These companies employ various market strategies such as technological advancements in the smart packaging of hummus, development of new flavors, and expanded production capacity among others. Other important players in the market include Pita Pal Industries Inc., T. Marzetti Company, Mediterranean Foods, Inc., and others.
Escalating demand for low-fat, high-protein snacks is adding fuel to the growth of hummus market
Major key players listed in the hummus market include Sabra Dipping Co., LLC, Haliburton International Foods, Inc., and Tribe Mediterranean Foods, Inc. among many others. The listed players account for the major share in the global hummus market. The established players are identified to follow certain strategies to sustain their consumer base to compete with the new players entering in the hummus market.
Sabra Dipping Co., LLC is among the renowned players in the hummus market. The company has been established in 1986 and operates in manufacturing and trade of hummus, guacamole, Greek yogurt dips, salsas, and vegetarian sides. The company has a strong inclination towards technological advancements to cater to emerging consumers and food market trends, and deliver high impact and value to its customers. The company also emphasizes on strengthening their portfolio in dips segment to expand their business.
Haliburton International Foods, Inc. is another established player listed in the hummus market. The company works towards strengthening its product portfolio to stand out in the hummus market. They have a strong market position in the U.S. and work towards generating high revenue through their offerings. The company is deeply committed to new product development in terms of adding new flavors and taste in its existing product range; driving sustained long-term growth through greater flexibility. They also indulge in various promotional activities to support their sales of hummus product-line.
Tribe Mediterranean Foods, Inc. is also considered as one of the established players in the hummus market with strong foothold across the U.S. believes in collaborating with various partners across the supply chain to offer advanced products to the consumers. They are also emphasizing increasing their production capacity by expanding their existing capacity and expanding their geographical reach.
Other prominent players in the market include Churny Company, Inc., Pita Pal Industries Inc., Cedar's Mediterranean Foods, Inc., T. Marzetti Company and other players. These companies are focusing on product promotions, new product launch, and acquisition of relative businesses to expand their geographical presence and customer base. Additionally, the companies are inclined towards process improvisations and strengthening their marketing base.