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Hummus Market Research Report includes various topics like total Market Size, Industry Share, Growth, Key Market Drivers, Challenges, Growth Opportunities, Demand, Outlook etc. Furthermore, it covers key market updates, the impact of regulations and technological updates in. The report addresses the need to stay updated in this competitive market conditions and this provides and comprehensive data for making strategies and decision to stimulate the market growth and profitability.Market Analysis
Hummus is an Eastern Mediterranean dish consisting of a creamy, thick paste made primarily from finely crushed chickpeas or other beans. A basic hummus recipe would contain mashed chickpeas, garlic, tahini, olive oil, lemon juice, and salt blended together.
According to a report published by Market Research Future (MRFR), the global hummus market is assessed to value at USD 6,682.18 million in 2027 and grow at a CAGR of 12.84% over the forecast period of 2018 to 2027.
The market is driven by the high demand for hummus, which is a result of its high nutritional value and the growing preference of consumers towards plant-based proteins, which is estimated to drive the market growth over the forecast period.
The lack of appropriate branding strategies is hampering product visibility, which is encouraging market players to focus on product marketing.
Key Players
The key market players of the global Hummus Market share are
• Haliburton International Foods, Inc. (U.S.),
• Sabra Dipping Co., LLC (U.S.),
• T. Marzetti (U.S.),
• Churny Company, Inc. (U.S.),
• Tribe Mediterranean Foods, Inc. (U.S.),
• Cedar's Mediterranean Foods, Inc. (U.S.)
• Pita Pal Industries Inc. (U.S.).
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Industry News
May 2019 – Sabra announced a partnership with media website Thrillist for a hummus festival, in Washington D.C., U.S.
May 2019 – Cargill announced its new snack product under its brands Shady Brook Farms, Honey Suckle White, and Castle Wood Reserve. The product is a low carb, high protein, wholesome snack pack with premium ingredients such as roasted turkey breast tenders with dips such as hummus, or guacamole.
April 2019 – O’DANG Hummus launched its new range of premium hummus dressings in a new range of flavor, in their supermarket partner Publix stores, across their stores in Southeast U.S.
Segment Analysis
The global market for hummus has been segmented based on the type, packaging type, distribution channel, and region.
Based on the type, the market has been segmented into classic hummus, edamame hummus, lentil hummus, black hummus garlic hummus, and white bean hummus. Among these, the classic hummus segment is estimated to hold the largest market share owing to the high demand from consumers due to its natural taste. Additionally, the lentil hummus segment is also assessed to rise at a higher CAGR over the forecast period, due to the changing trends and consumer preferences.
Based on packaging type, the Hummus Market has been segmented into tubs/cups, jars/bottles, and, others. The tubs/cups segment has been accounted for the largest market share, owing to its multiple benefits that improve the product life span, and is convenient for consumers. The packaging segment is estimated to experience changes due to the shifting focus of manufacturers towards sustainable, reusable options such as jars/bottles, driving the jars/bottles segment to account for more than 15% of the global hummus market share over the forecast period.
Based on the distribution channel, the market has been segmented into convenience stores, supermarkets & hypermarkets, e-commerce, and, others. Among these, supermarkets & hypermarkets segment has been accounted for the largest market share, due to the convenience of one-stop shopping experience for the consumers. The supermarket & hypermarket segment is followed by the convenience store segment, which holds more than 20% of the global hummus market share, while the e-commerce is estimated to grow at a higher CAGR over the forecast period due to the massive growth in the e-commerce industry.
Based on the region, the global hummus market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
Regional Analysis
North America has been assessed as the largest regional market for hummus and is estimated to account for more than 55.7% of the global market share, owing to the extensive demand for hummus, consequently contributing to the market growth in the region over the forecast period. Additionally, there is a massive demand for Europe and the Aisa Pacific which is estimated to contribute substantially to the regional hummus market share and subsequently lead to the growth of the global hummus market. Both the regions are accounted for a collective market share of more than 20%.
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