-- Market Synopsis:
The global hummus market is estimated to expand at 12.84 % CAGR during the forecast period (2018-2027) owing to the increasing consumption of gluten-free and organic food, asserts Market Research Future (MRFR). Hummus is an Egyptian and Levantine spread, or food dip prepared from cooked, mashed chickpeas or other beans and blended with olive oil, tahini, salt, lemon juice, garlic, and salt. Hummus comprises classic hummus, white bean hummus, lentil hummus, black hummus, garlic hummus, and edamame hummus and has been considered to gain huge market potential in the future.
Drivers and Constraints Impacting the Market
The consumption of hummus has grown at a remarkable rate. A native food item to the Middle East, hummus is now penetrating the Asia Pacific and the North American market. More than USD 2,000 million worth of hummus was consumed worldwide in 2017. The growth is attributed to the growing consumption of gluten-free and organic food along with changing consumer preference towards healthy food habits. Also, leading hummus producers are trying to focus on launching new flavors and variants which has further catapulted the growth of hummus market during the forecast period. Moreover, the rapid inclination towards plant-based protein is likely to propel the market growth.
On the flip side, lack of proper branding strategies is estimated to hamper the visibility of the product, thereby inhibiting the market growth during the assessment period. Also, the fluctuating prices of raw materials required to prepare hummus are also considered to slow down the market growth in the coming years.
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Industry News:
September 23, 2018: Windsorites of all religions and cultures gathered at Windsor Hummus Festival to socialize, enjoy international music, and eat hummus. Assumption College Catholic High School Culinary Class, Mazal Tov Kosher Cuisine, Cedar Valley Selections, and Eddy's Mediterranean Bistro showcased their hummus and competed for “best hummus” title.
Major Key Players Review:
The major players operating the global hummus market are Pita Pal Industries Inc. (Texas), T. Marzetti (U.S.), Cedar's Mediterranean Foods Inc. (Massachusetts), Churny Company Inc. (U.S.), Sabra Dipping Co. LLC (U.S.), Haliburton International Foods Inc. (California), Tribe Mediterranean Foods Inc. (Massachusetts), and more.
Segment Analysis:
The global hummus market has been segmented on the basis of type, distribution channel, packaging type, and region.
By mode of type, the global hummus market has been segmented into black hummus, garlic hummus, classic hummus, white bean hummus, edamame hummus, and lentil hummus. Among these, the segment for classic hummus has been considered to register the most significant share in 2017. The growth is attributed to the huge demand from consumers for natural flavor.
By mode of packaging type, the market has been segmented into jars/bottles, tubs/cups, and others. Among these, the segment for tubs/cups holds the largest market share due to its packaging benefits as it offers convenience to the consumers and enhances the product lifecycle.
By mode of distribution channel, the market has been segmented into convenience stores, e-commerce, supermarkets & hypermarkets, and others. Among these, the supermarkets & hypermarkets segment holds the largest market share due to one-stop shopping experience for the consumers.
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Regional Insights:
Geographically, the hummus market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World.
Among all the regions, North America has been considered to hold the largest market share with 55.7 % in 2017. The growth is mainly attributed to the increasing demand for hummus in this region. The growth in hummus consumption among the Americans is considered to drive the global market in this region.
On the other hand, the Asia Pacific and the European region is anticipated to register profitable growth opportunities in the coming years and hold more than 20 % of the market share owing to the growing tourism industry in these regions.
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Website: https://www.marketresearchfuture.com/reports/hummus-market-1585
Release ID: 452418
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