Hummus Market to Grow by USD 2.85 Billion (2024-2028), Driven by New Packaging Innovations, with AI Impacting Market Evolution - Technavio

NEW YORK, Dec. 3, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global hummus market size is estimated to grow by USD 2.85 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 12.5% during the forecast period. Introduction of new packaging is driving market growth, with a trend towards growing retail space. However, effects of natural calamities and raw material supply shortage poses a challenge. Key market players include Bakkavor Group PLC, Boars Head Brand, Cedars Mediterranean Foods Inc., Conagra Brands Inc., Damai International, Deldiche NV, Fountain of Health, Haliburton International Foods Inc., Harvest Moon Foods, Hummus Goodness, Kasih Food Production Co., Lakeview Farms LLC, Lancaster Colony Corp., Moorish Ltd., PepsiCo Inc., Savencia SA, Strauss Group Ltd., The Huda Bar, The Kraft Heinz Co., and Wingreens Farms Pvt. Ltd.

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Key Market Trends Fueling Growth

The global hummus market is experiencing growth due to the expanding retail landscape. Traditional sales channels, including supermarkets, hypermarkets, and convenience stores, continue to dominate. However, online sales are gaining popularity. E-commerce portals like Amazon, Tesco, BigBasket, and others are seeing increased sales of hummus products. Companies, such as Haliburton International Foods, have established their online presence. The US online grocery sales industry has grown an average of 17.6% per year since 2017. This trend is expected to positively impact the growth of the global hummus market during the forecast period. 

The hummus market is experiencing in popularity, especially among millennials seeking healthy, plant-based snack options. Chickpea Hummus, Tahini Dip, and Chickpea Spread are top choices, offering proteins, fiber, antioxidants, vitamins, and nutritious constituents. New flavors like Lavender, Lime, Blueberry, and herbs and spices such as turmeric, are capturing consumers' attention. Long shelf-life and convenience make hummus a fridge staple. Affordability and health-beneficial attributes make it a go-to choice for vegan diets and veganism. Hummus comes in various flavors including Classic, Lentil, Garlic, Black, White bean, and organic options. Brands are focusing on functional ingredients, immunity attributes, and environmental sustainability by offering single-serve cups and using herbs and spices. Hummus is not just a dip but a versatile plant-based appetizer for Mediterranean Cuisine, Vegan Snacks, and healthy diets. 

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Market Challenges

• The production of hummus relies on two primary raw materials: chickpeas and garlic. The cultivation of these crops is susceptible to external factors, including natural calamities and plant diseases. Natural disasters such as droughts, floods, storms, earthquakes, and volcanic eruptions account for over 70% of economic losses in agriculture. Additionally, diseases in garlic and chickpea plants can negatively impact hummus production. The increasing frequency and severity of natural calamities may lead to chickpea shortages, raising production costs and potentially hindering the growth of the global hummus market.
• The hummus market is experiencing significant growth, with millennials and vegans leading the charge for this plant-based dip option. Chickpea Hummus, Tahini Dip, and Chickpea Spread are popular choices, offering affordability, convenience, and health-beneficial attributes. Hummus comes in various flavors like lavender, lime, blueberry, and garlic, catering to consumers' taste preferences. Shelf-life and affordability are key challenges, with many companies focusing on functional ingredients and herbs and spices for immunity attributes. Proteins, fiber, antioxidants, vitamins, and nutritional constituents make hummus a nutritious snack. Hummus is a fridge staple in Mediterranean cuisine and a healthy plant-based appetizer. Vegan diets and veganism are driving demand for hummus as a vegan snack. Environmental sustainability is also a concern, with single-serve cups and organic options gaining popularity. Hummus Recipe using chickpea paste is simple and versatile, making it a go-to choice for those seeking a quick and tasty snack. Lentil Hummus, Black Hummus, White bean Hummus, and other flavors cater to diverse tastes. Functional ingredients like turmeric add to hummus's immunity attributes, making it a popular choice for those seeking a healthy snack option. Hummus is a delicious and convenient addition to any diet, whether you're following a vegan lifestyle or simply looking for a tasty and nutritious snack.

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Segment Overview 

This hummus market report extensively covers market segmentation by

1. Application 
• 1.1 Sauces and dips
• 1.2 Pastes and spreads
• 1.3 Others
2. Type 
• 2.1 Classic hummus
• 2.2 Lentil hummus
• 2.3 Others
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Sauces and dips- Hummus Market is a thriving business specializing in producing and selling authentic, high-quality hummus. Our commitment to using only the finest ingredients and traditional preparation methods has earned US a loyal customer base. We offer various flavors and sizes to cater to diverse tastes and preferences. Our team ensures timely delivery and excellent customer service. Join US in savoring the delicious taste of hummus.

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Research Analysis

Hummus is a popular and versatile plant-based dip originating from Mediterranean cuisine, beloved for its rich and creamy texture. Made primarily from chickpeas, tahini, garlic, and herbs and spices, hummus comes in various flavors such as Classic, Organic, Lentil, Garlic, Black, White bean, and Chickpea. These functional ingredients offer health-beneficial attributes, including proteins, fiber, antioxidants, vitamins, and nutritional constituents. As consumers' attention shifts towards vegan diets and environmental sustainability, hummus has emerged as a convenient and affordable plant-based snack option. Its long shelf-life makes it a fridge staple, and its taste and convenience have made it a favorite among millennials. Functional ingredients like turmeric, lavender, lime, blueberry, and herbs and spices add unique flavors and immunity attributes to hummus. Single-serve cups and convenient packaging have also made hummus an ideal choice for those on-the-go. With its health benefits and delicious taste, hummus continues to be a popular choice for those following vegan diets or simply looking for healthy and convenient snack options. Whether enjoyed as a dip, spread, or appetizer, hummus is a plant-based powerhouse that caters to various dietary needs and preferences.

Market Research Overview

Discover the delicious and nutritious world of hummus, a beloved staple in Mediterranean cuisine! Organic hummus made from chickpeas and tahini is a popular choice for those following vegan diets or embracing veganism. Lentil, Garlic, Black, White bean, and Chickpea Hummus offer various flavors to cater to every taste preference. Hummus is not only delicious but also boasts numerous health-beneficial attributes. Packed with proteins, fiber, antioxidants, vitamins, and nutritional constituents, it makes an excellent choice for healthy snacking. Herbs and spices like turmeric, lavender, lime, blueberry, and others add functional ingredients and immunity attributes to hummus, making it a versatile and exciting addition to any meal. Single-serve cups ensure convenience, while maintaining affordability and extended shelf-life. Hummus is more than just a plant-based dip option; it's a fridge staple that captures consumers' attention with its taste and nutritional value. Millennials appreciate hummus as a convenient and healthy snack, contributing to its growing popularity. With numerous flavors like Tahini Dip, Vegan Snacks, Chickpea Spread, and Healthy Dip, hummus caters to various preferences and dietary needs. Experience the joy of making your own Hummus Recipe at home or enjoy it as a Plant-based Appetizer at your next gathering. Hummus is a Gluten-free Option and a Nutritious Snack that offers a delightful twist to the classic Chickpea Hummus.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Sauces And Dips
• Pastes And Spreads
• Others
• Type
• Classic Hummus
• Lentil Hummus
• Others
• Geography
• North America
• Europe
• APAC
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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