USD 3.15 billion
Hummus Market Size, Share, Growth Analysis, By Type(Classic, Roasted Garlic, White Bean, Black Olive), By Packaging(Tubs/Cups, Jars/Bottles, others), By Distribution Channel(Supermarkets/Hypermarkets, Convenience Stores, Grocery Stores, Online Retails.), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30C2108 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
94
|Figures:
76
Hummus Market Insights
Hummus Market size was valued at USD 3.15 billion in 2019 and is poised to grow from USD 3.6 billion in 2023 to USD 10.21 billion by 2031, growing at a CAGR of 14.7% in the forecast period (2024-2031).
Hummus, also known as humous, is a cuisine dip or spread made with sesame seeds, chickpeas, olive oil, lemon juice, salt, and garlic. Hummus is consumed with pita bread. The proteins in the hummus and bread complement each other nicely, giving a delightful flavour. The popularity of various dips, sauces, and spreads has increased dramatically in the last decade. The growing customer demand for the product as a healthy and pleasurable dip or spread has fueled the market expansion. It is a popular Middle Eastern dip prepared with chickpeas, tahini, garlic, and olive oil. However, other pulses and vegetables, such as sweet potato or beetroot hummus, are often used to generate different variations.
As big food producers found difficult to meet the rising demand, it created an opportunity for minor companies to grab market space. Because the product is regarded as a healthy dip, its sales has skyrocketed in various countries nearly tripling the quarterly results. The growth in health consciousness among consumers is one of the major factors promoting its usage. It is packed with vitamins, proteins, and minerals, and its consumption promotes bone, muscles, and skin strength even while reducing cholesterol, offering it a nutritious dip. Furthermore, the product's wide availability in various ranges and capability to improve the flavour of food products contributes to market growth.
US Hummus Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Classic
Fastest Growth
Roasted Garlic
Growth Rate
14.7% CAGR
Global Hummus Market, 2021-2028 ($ Bn)
Country Share for North AmericaRegion- 2021 (%)
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Hummus Market Segmental Analysis
Hummus market is segmented based on the type, packaging, distribution channel, and region. Based on type, the market is segmented classic, roasted garlic, white bean, black olive, red pepper, and others. Based on packaging, the market is segmented into tubs/cups, jars/bottles, and others. based on distribution channel, the hummus market is segmented into supermarkets/hypermarkets, convenience stores, grocery stores, and online retails. By region, the Hummus Market is segmented into North America, Asia Pacific, Europe, Latin America, and MEA.
Hummus Market Analysis by Type
The classic hummus segment took the lead because to its widespread availability. The classic variety is the most extensively available in the retail market. This variation is in high demand due to its versatility as an appetiser, spread, or dip, as well as being naturally gluten free and very healthy.
The other two popular sorts are roasted garlic and white bean versions, which are in high demand across the world. Because of their distinct flavour and customers' willingness to experience new flavours and goods, these varieties are used to produce cuisines as well as direct consumption. Furthermore, the introduction of new flavours such as chocolate, pumpkin pie, banana, red velvet, and others, as well as customer interest in novel dips are projected to drive market expansion.
Hummus Market Analysis by Distribution Channel
Product availability and appealing discounts to encourage sales growth via mass merchandisers because of their outstanding in-store shopping experience and many discounts on bulk purchases, mass merchandisers are expected to have the largest global hummus market share. Another factor driving the segmental growth is the food quality and freshness provided by these mass merchandisers, which gives shoppers a variety of options.
However, greater internet penetration and digitalization have boosted customer interest in online shopping. Along with this, the segment's expansion is likely to be aided by the extensive product availability, high convenience, and door-step delivery option.
Global Hummus Market By Type , 2021 (%)
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Hummus Market Regional Insights
In 2022 North America accounted for the leading position. The key element boosting regional sales is the increased production and consumption of dips and spreads in the United States. According to the USA Dry Pea & LentCouncil, Americans store & preserve their food in the refrigerator. Along with this, the region's growing acceptance of veganism is another element affecting customer demand for such plant-based dips. Furthermore, producers are developing fresh and appealing items to capture the attention of customers.
Europe is predicted to be the second-largest share in terms of revenue. The increasing popularity of this product across several European countries, particularly the United Kingdom, has led to growing regional sales. The country accounts for more than 45% of regional sales and is renowned as Europe's hummus capital.
Asia Pacific is predicted to be the market's fastest-growing region. A range of variables, including fast population increase, acceptance of cross-cultural meals, and disposable affluence, are currently driving higher product sales. India, Australia, and China are among the largest economies driving regional market expansion. Because it is a regional cuisine, retail sales of the product in the Middle East are rather low, and consumers prefer it freshly made rather than store-bought. South Africa and other countries, on the other hand are developing as a result of the growing vegan trend, rising population, and increasing per capita income.
Global Hummus Market By Region, 2021-2028
- Largest
- Fastest
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Hummus Market Dynamics
Hummus Market Driver
Surging Premium Inclination and Healthy Dips to Drive Market Growth
- The inclusion of numerous proteins, fiber, antioxidants, vitamins, and other nutrition constituents in hummus has greatly increased its demand. The demand for nutritious snacks, both between meals and on the go, is growing, with health indulgence playing an important role. Furthermore, the product has grown in popularity among millennials.
- Hummus is frequently consumed for its distinct flavor, ease of preparation, and status as a plant-based dip option, capturing customers' attention and propelling it to the position of fridge staple. Furthermore, consumers' spend hectic and fast-paced lifestyles with an increased demand for healthy bite-sized snacks, contributing to increased sales.
Hummus Market Restraint
Product Adulteration is on the Rise, Stifling Market Growth
- Hummus recalls have emerged as one of the industry's major concerns in recent years, weighing heavily on market growth. For example, in March 2021, Sabra Dipping Company, LLC voluntarily recalled 2, 1 containers of classic hummus owing to Salmonella contamination in coordination with the Food and Drug Administration (FDA).
- The market availability of numerous plant-based dips, such as tahini, salsa, and others, as well as their growing consumer appeal, are expected to stymie development even further.
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Hummus Market Competitive Landscape
Key players concentrate on new product launches in order to expand their portfolios and maintain their prominence. The worldwide market is fragmented, with various industry participants working within it. The rising demand in numerous nations as a result of better digitization and urbanisation gives ample opportunity for market participants to innovate and broaden their worldwide presence. Companies such as Nestlé S.A., Strauss Group, Ltd., Cedar's Mediterranean Foods, Inc., The Kraft Heinz Company, and others are working on various ways to grow their significance, such as new product releases, collaborations, base expansion, and others.
Hummus Market Top Player's Company Profiles
- Sabra Dipping Co. LLC
- Tribe Mediterranean Foods Inc.
- Strauss Group Ltd.
- Nestle SA
- PepsiCo Inc.
- Cedar's Mediterranean Foods Inc.
- Boar's Head Provision Co. Inc.
- Fountain of Health USA Inc.
- House of Thaller Inc.
- Haliburton International Foods Inc.
- Mezeh Mediterranean Grill LLC
- Tribe Hummus UK Ltd.
- Cedar's Foods Ltd.
- Josie's Enterprises Ltd.
- Yarden Inc.
- Krinos Foods LLC
- Lantana Foods
- The Hummus Company
- Roots Hummus
- Eat Well Embrace Life.
Hummus Market Recent Developments
- In April 2021, Ithaca Hummus introduced a 17oz sharing-size hummus. In the United States, the container comes in two flavours: lemon garlic and lemon dill. Because of the increased demand for the dip in the country, the firm introduced this larger size pack.
- In March 2021, to broaden its dips product range, FoodStory Brands released a hummus dips line in traditional and roasted red pepper tastes in the United States under its brand Fresh Cravings.
Hummus Key Market Trends
- Vegan Trend is on the Rise: Veganism has been more popular in recent years, particularly in developed economies such as North America and Europe. The vegan movement is gaining widespread appeal as people become more concerned for animal welfare and environmental sustainability. This has significantly increased sales throughout the world since it is one of the most appreciated and popular plant-based dips.
- Rise in health-conscious population to create high demand: Additionally, demand for organic hummus is increasing as a result of rising health-conscious customers and their pro-environmental purchasing habits, which will boost the industry's growth. To meet the rising demand, producers are creating new and enhanced organic variations of the product.
Hummus Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Hummus Market analysis, there is no doubt that the original COVID-19 scourge affected the progress of a range of mechanical regions, innovation areas, food and beverage business, medical care, and other fields. Insecurity of creation and supply chain interference are two factors influencing the growth of the hummus industry. A challenger in the global hummus market serious scene provides intricacies. The aforementioned data points are merely associated with the organisations' centres associated with the Global Hummus Market. The rising prevalence of the internet across all industries, as well as the growing trend of online purchasing for various food and beverage goods, are projected to contribute to the overall expansion of the global hummus market. This is also due to the growing number of vegan consumers.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 3.15 billion |
| Market size value in 2031 | USD 10.21 billion |
| Growth Rate | 14.7% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Hummus Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Hummus Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Hummus Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Hummus Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Hummus Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Hummus Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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