Hummus Market
Growth Factors of Hummus Market
The Hummus market size was valued at USD 3.75 billion in 2023, and the market is now projected to grow from USD 4.21 billion in 2024 to USD 10.05 billion by 2032, exhibiting a CAGR of 11.49% during the forecast period of 2024-2032.
In the intrigued provoke of the novel rampant coronavirus, the economical conditions were cruelly affected in the global trade scenario in addition to the beverage and food industry. Usually due to governments executing social removing standards and lockdowns to check the spread of the infection. Individuals remaining at domestic expanded their inclinations towards home-cooked nourishment and stockpiling of basic nourishment things in bulk, such as hummus and other ready-to-cook/eat items. In conjunction with this, buyers floated towards solid nourishments that give consolation to bolster their resistant framework and over all the situation positively affected the hummus market growth.
The broad slant of veganism has developed quickly within the final few years, particularly in developed economies of North America and Europe. The trend of most prevailing vegan diet is picking up standard ubiquity due to the expanding mindfulness among customers with respect to creature welfare and natural supportability. This has significantly boosted sales across the world because it is one of the foremost preferred and prevalent plant-based plunges. At the side this, the request for natural hummus is developing due to the expanded health-conscious buyers and their pro-environmental acquiring behavior, which would drive the industry's development.
The potential health-beneficial properties of hummus due to the nearness of different proteins, fiber, cancer prevention agents, vitamins, and other wholesome constituents have altogether driven the demand for hummus. The request for solid snacks is developing – between the suppers, as well as on the go, with wellbeing liberality playing a significant part. In expansion, the item has developed progressively prevalent among millennials as they are among the foremost health-conscious bunch of consumers.
Comprehensive Analysis of Hummus Market
On the basis of type the classic type is the foremost broadly available and devoured variation within the world. The segment accounted for approx. 41.54% share within the worldwide showcase in 2023. The request for this segment is high owing to its flexibility because it can be devoured as an appetizer, spread, or a plunge, besides being actually gluten-free and exceedingly nutritious. The market bifurcated on the foundation of distribution channels, the showcase is sectioned into supermarkets/hypermarkets, comfort stores, basic supply stores, and online retails. The mass merchandisers section is anticipated to hold the biggest hummus advertise share as they give an extraordinary in-store shopping encounter and various rebates on bulk purchasing.
The North American continent is the driving region contributing to the most elevated hummus market share within the worldwide marketplace, which stood at USD 1.91 billion in 2023. The expanding generation and utilization of dips & spreads within the U.S. is the most figure driving territorial sales.
The top players in the market play a crucial role in assuring industrial prospectus growth and setting market standards. These players listed as: Hope Foods LLC (U.S.), Nestle SA (Switzerland), Tribe Hummus (U.S.), Hummus Gourmet LLC (U.S.), Bakkavor Group Plc (U.K.), Boar’s Head Brand (U.S.), The Kraft Hienz Company (U.S.), Strauss Group (Israel) and others.
In the month of September 2023, the company Sabra, a hummus brand, propelled Buffalo Hummus made with Frank’s redhot, BBQ hummus. This unused Mediterranean Simmered garlic and Hot Harissa focused on customers over the U.S.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Unit Value (USD Billion)
Growth Rate CAGR of 11.49% from 2024 to 2032
Segmentation By Type
- Classic
- Roasted Garlic
- White Bean
- Black Olive
- Red Pepper
- Others
By Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores
- Grocery Stores
- Online Retails
By Geography
- North America (By Type, Distribution Channel, and By Country)
- The U.S. (By Distribution Channel)
- Canada (By Distribution Channel)
- Mexico (By Distribution Channel)
- Europe (By Type, Distribution Channel, and By Country)
- U.K. (By Distribution Channel)
- France (By Distribution Channel)
- Germany (By Distribution Channel)
- Netherlands (By Distribution Channel)
- Italy (By Distribution Channel)
- Rest of Europe (By Distribution Channel)
- Asia Pacific (By Type, Distribution Channel, and By Country)
- China (By Distribution Channel)
- India (By Distribution Channel)
- Japan (By Distribution Channel)
- Australia (By Distribution Channel)
- Rest of Asia Pacific (By Distribution Channel)
- South America (By Type, Distribution Channel, and By Country)
- Brazil (By Distribution Channel)
- Argentina (By Distribution Channel)
- Rest of South America (By Distribution Channel)
- The Middle East and Africa (By Type, Distribution Channel, and By Country)
- Saudi Arabia (By Distribution Channel)
- South Africa (By Distribution Channel)
- Rest of ME&A (By Distribution Channel)
Please Note: It will take 5-6 business days to complete the report upon order confirmation.