The value of the global hummus market was approximately USD 3.6 billion in 2022, and analysts forecast that it will increase to approximately USD 10.21 billion by 2030, expanding at a compound yearly growth rate (CAGR) of approximately 14.7% between the years 2023 and 2030.
Hummus Market: Overview
Middle Eastern countries are responsible for the invention of hummus, which is now one of the world’s most well-known and beloved dips. The chickpeas, also known as garbanzo beans, are cooked and mashed before being used in the preparation of edible products, which also include tahini, olive oil, garlic, and lemon juice in varying amounts. The paste made by grinding sesame seeds is called tahini. It has a tangy flavor and a creamy texture, and it tastes savory. Additionally, it has a creamy texture. It is typically eaten alongside a variety of other foods, including crackers, pita, bread, and raw veggies, amongst others.
The high nutritional value of the components that go into the making of hummus is largely responsible for the spread’s meteoric rise in popularity in recent years. In addition to providing an excellent source of protein, it also gives the consumer access to nutritious fats and fibre. Despite its origins in the Middle East, hummus has become popular across the globe and is now offered in a broad variety of restaurants. However, due to the ease with which it can be prepared at home, many individuals opt to do so on their own for personal use.
The Hummus Market: Factors Driving Growth
Increasing awareness of the importance of health care to drive market demand
As people become more aware of the need of maintaining a healthy lifestyle, it is anticipated that the global market for hummus would expand. Because there are so many different kinds of raw components that go into making hummus, it is especially good for your health. Because these components are readily available at neighborhood retailers, there is no need to be concerned about the availability of raw materials. In addition, the processes are really easy to follow, and you won’t need any specialized equipment to get the dish ready to eat. In light of the fact that it is one of the very few sauces that can be purchased in stores and used to improve the flavor of food without posing any health risks to the consumer, it is the seasoning of choice for individuals who are concerned with maintaining a healthy lifestyle.
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Furthermore, the versatility of hummus allows it to be consumed with almost all types of food and there are no limitations in terms of edibility. In addition to this, with the growing number of commercial suppliers with inputs from large food corporations to domestic players, the availability of commercial-grade hummus has increased over the years and is now fast-reaching unexplored areas or regions that are at a point in economic growth where they are rapidly moving toward urban lifestyle.
Hummus Market: Regional Analysis
At the moment, the Middle East area dominates the market for hummus around the world. The region that is now home to the largest customer base for hummus includes Turkey, Israel, and Lebanon, to name just a few nations. Hummus is thought to have originated in this region. The food item in question is an integral component of the diet culture and is consumed in conjunction with regular meals. The typical weekly consumption of hummus in homes in the Middle East ranges from one to seven times. In terms of regional growth, North America is currently in second place.
Hummus has recently become popular in the US but the rate of expansion has been tremendous with the entry of many domestic players staying ahead in the game with the help of constant innovation and product development. In a matter of few years, hummus has become a common edible item in the US market which is also termed as a leading manufacturing hub that is responsible for product export in many other countries. In summary, although the Middle East continues to be the home of hummus, the global market is expected to gain revenue from across the world.
Hummus Market: Competitive Analysis
The global hummus market is led by players like:
Agro Tech Foods Ltd.
Cedars Mediterranean Foods Inc.
Haliburton International Foods Inc.
Bakkavor Group PLC
Harvest Moon Foods
Boars Head Brand
Lakeview Farms LLC
Fountain of Health
Kasih Food Production Co.
Hope Foods LLC.
The global hummus market is segmented as follows:
By Distribution Channel
Supermarkets & Hypermarkets
Roasted Red Pepper
Roasted Garlic White Bean
Smoky Sweet Potato
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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