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Hummus Market to Reach US$ 8,267.07 million, Globally, by 2028 at 7.6% CAGR: The Insight Partners

According to our latest market study on “Hummus Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type (Original/Classic, Red Pepper, Black Olive, White Bean, and Others), Packaging Type (Tubs and Cups, Jars and Bottles, and Others), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others),” The hummus market was valued at US$ 4,577.35 million in 2020 and is projected to reach US$ 8,267.07 million by 2028; it is expected to grow at a CAGR of 7.6% from 2021 to 2028.

The hummus market in Asia-Pacific is expected to grow at the highest CAGR during 2021–2028. With the economic growth and rising prevalence of various diseases, lifestyle and consumption patterns have changed in countries such as India, China, and Japan. Moreover, the trend of veganism is growing with the increasing awareness regarding the need to protect the environment. The rising demand for plant-based proteins and increasing health-consciousness are the major factors driving the market growth in the region. Moreover, Europe is also witnessing high demand for plant-based proteins with the increasing adoption of veganism in Europe, especially in the UK. Moreover, hummus manufacturers are expanding their product lines by launching organic variants as well as innovative flavorful varieties.

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A few of the key market players operating in the hummus market are Bakkavor Group; Cedar’s Mediterranean Foods Inc.; Haliburton International Foods; Strauss Group; Tribe Hummus; Hope Foods, LLC; Fountain of Health; Hummus Goodness; Boar’s Head Brand; and Lantana Foods. Major players in the market are focusing on strategies such as mergers and acquisitions and product launches to expand the geographic presence and consumer base.

Market Insights

Health Benefits due to Rich Nutritional Profile Including Proteins, Fibers, Vitamins, and Minerals Drive Market Growth

Hummus is a well-known Middle Eastern dip and spread that has high mineral, vitamin, protein, and fiber content. All the main ingredients of hummus chickpeas, garlic, sesame seeds or paste (tahini), and olive oil are recognized as superfoods. Chickpeas are high on iron, phosphorus, and vitamin B complex. Tahini has high zinc, calcium, copper, and phosphorous content. Lemon juice is an excellent source of vitamin C and antioxidants. Garlic, which adds flavor to hummus, is high on antioxidants and contains many trace minerals and vitamins. The rising prevalence of diseases such as strokes, ischemic heart disease, chronic obstructive pulmonary diseases, and diabetes mellitus is attracting people’s attention toward healthy foodstuffs, especially in developed and developing regions. Hummus has also found a shelf in retail stores and supermarkets due to the diversification of distribution channels. It is naturally free from common allergens and irritants such as nuts, gluten, and dairy. It can also be used to replace creamy salad dressings, mayonnaise, sour cream, ranch dressing, and other condiments in recipes such as sandwiches, bread, crackers, and chips. Furthermore, increasing economic standards and rising disposable incomes as well as the diversification of food preferences boost the demand for healthy foodstuffs such as hummus. Thus, benefits conferred by hummus such as better digestive health, appropriate weight loss, improved blood sugar control, anti-inflammatory tendencies, and lower heart disease risks are bolstering its demand.

Type Insights

Based on type, the hummus market is segmented into original/classic, red pepper, black olive, white bean, and others. The others segment majorly includes beet, black bean, lupini bean, edmame, jalapeno, black garlic, and yellow lentil hummus. The roasted beet provides sweetness and a vibrant pink color to hummus. The beet hummus is a low maintenance recipe with a highly impressive appearance. Black bean is a small and a shiny variety of common beans, and they are highly nutritious as they constitute antioxidants, fibers, proteins, and carbohydrates. Black beans and lupini beans are used as a replacement of chickpeas in the respective hummus varieties. Recipes including these beans can be included in the keto diet, depending upon the carbs limit. Lupini beans, yellow lentils, provide boost the color of traditional hummus long with providing s spicy taste to it. Jalapeño peppers are vibrant green and adds freshness to the hummus. They also increase the spiciness of traditional hummus. Further, the black garlic hummus is enriched with various nutrients and antioxidants. Moreover, the black garlic provides warm and mellow flavors to the hummus.

The COVID-19 pandemic has been hindering the hummus market performance, mainly, due to disrupted raw material production and supply chains, weather condition uncertainties, and other reasons. The outbreak disturbed operational efficiencies and value chains due to the sudden shutdown of national and international boundaries. However, with many the economies striving to revive and normalize their operations, the demand for hummus is presumed to rise in the foreseeable future.

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GLOBAL HUMMUS MARKET SEGMENTATION

Hummus Market, by Type

  • Original/Classic
  • Red Pepper
  • Black Olive
  • White Bean
  • Others

Hummus Market, by Packaging Type

  • Tubs and Cups
  • Jars and Bottles
  • Others

Hummus Market, by Packaging Type

  • Supermarkets and Hypermarkets
  • Convenience Stores
  • Online Retail
  • Others

Regional and Country-wise Analysis: Global Hummus Market

– North America (U.S., Canada, Mexico)

– Europe (U.K., France, Germany, Spain, Italy, Central & Eastern Europe, CIS)

– Asia Pacific (China, Japan, South Korea, ASEAN, India, Rest of Asia Pacific)

– Latin America (Brazil, Rest of L.A.)

– The Middle East and Africa (Turkey, GCC, Rest of Middle East)

Key points from Table of Content:

  1. Introduction
  2. Key Takeaways
  3. Research Methodology
  4. Hummus Market Landscape
  5. Global Hummus Market – Key Industry Dynamics
  6. Hummus – Global Market Analysis
  7. Global Hummus Market Analysis – By Type
  8. Global Hummus Market Analysis – By Packaging Type
  9. Global Hummus Market Analysis – By Distribution Channel
  10. Hummus Market – Geographic Analysis
  11. Overview- Impact of Coronavirus Outbreak
  12. Industry Landscape
  13. Company Profiles
  14. Appendix

LIST OF TABLES

LIST OF FIGURES

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About The Insight Partners:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our wide range of research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials and Foods and Bavarages.

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