Hummus Market is Predicted to Reach USD 8.26707 billion by 2028, at a CAGR of 7.6%, says The Insight Partners

Rich Nutritional Profile Including Proteins, Fibers, Vitamins, and Minerals Drives Hummus Market Growth

NEW YORK, UNITED STATES, November 1, 2022 /EINPresswire.com/ -- The scope of our recent study on the “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),” includes the analysis of factors driving the market growth, estimation and forecast of revenues, and market share analysis as well as identification of significant market players along with their key developments. Hummus market was valued at USD 4.57735 billion in 2020 and is projected to reach USD 8.26707 billion by 2028; it is expected to grow at a CAGR of 7.6% from 2021 to 2028.

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 known for high antioxidant content and contains many trace minerals and vitamins.

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Based on packaging type, the global hummus market is segmented into tubs and cups, jars and bottles and others. In 2020, the tubs and cups segment accounted for the largest market share. The cups used for dip packaging are mostly made of food-grade virgin plastic. These are small and convenient containers that allows consumers to carry it on-the-go. These tubs and cups are microwave safe and comes with a lid or sealable option that makes them airtight and leak proof. The hummus dip is packaged in a PET plastic tub. The tub packaging of hummus can vary from a family-sized hummus tub to small-sized tubs that are suitable for an individual consumption. As plastic-based packaging provides an inexpensive option for hummus manufacturers.

The hummus market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). In 2020, Europe accounted for the largest share in the market. The largest market share of this region is primarily attributed to the presence of major manufacturers in the region. The surging demand for packaged hummus products, especially in Western Europe; rising demand for plant-based proteins; and increasing preference for healthy eating habits are the crucial factors catalyzing the growth of the hummus market in Europe.

Leading Key Players in 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 are among the well-established players operating in the hummus market.

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The rising prevalence of diseases such as strokes, ischaemic 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, rising disposable incomes, and 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 propelling its demand.

With noteworthy changes in consumer tastes, an increasing number of people are opting for a more balanced diet suitable for more sustainable lifestyle, further lowering the dependence on animal proteins. The widespread trend of veganism in urban populations, especially among youth, as well as growing preference for plant-based protein products over animal-based protein products in developed and developing countries such as India, China, the US, Germany, and Japan are the key factors contributing to the plant-based protein industry growth.

For instance, according to the Expo Organization in the United States, 4% of men and 7% of women are vegetarians. In India, where religious considerations direct a cruelty-free diet, 31 percent of the population is vegetarian. Vegetarians make up an estimated ten percent of the European population. Vegetarians number 375 million worldwide. Further, the growing availability of plant-based proteins sources, coupled with the related environmental, nutritional, and economic benefits of low meat consumption, bolsters the demand for plant-based protein products. Enhanced production processes and product innovations are also attracting major consumer attention toward suitable plant-based alternatives for animal-based products.

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Hummus Market Growth Future Opportunities and Demand Till 2028