Rising Demand for Plant-Based Food Products
is Providing Traction to the Hummus Market
In recent years, consumers have
become aware of the foods they consume and the effect of these food products on
their health. As a result, in order to manage a healthy lifestyle, consumers
are adopting plant-based food alternatives. They are increasingly opting for
plant-based foods, particularly protein alternatives in the meat and dairy
aisles. Meat substitutes, in particular, have increased in the past few years,
owing to better-tasting and more extensively available products. Moreover,
plant-based dairy products such as soy, nut and oat drinks are also gaining
popularity. Consumers are being driven to alternate protein products for a
number of reasons, including health, ethics and flavour. As a result, there is
a growing demand for plant-based food products such as hummus. Hummus is considered
as a healthy alternative owing to its protein and fibre content, thus driving
its demand among health-conscious consumers. The potential health benefits of
hummus such as gluten-free, low saturate fats and less artificial additives
aligns with consumer preferences, which in turn is creating lucrative growth
opportunities for the hummus market.
Availability of Flavours, Demand for
Functional Ingredients and Health Benefits of Hummus are Boosting the Market
Growth
The rising popularity of a
variety of distinct and innovative flavours in dips among consumers around the
world is driving the hummus market growth. Manufacturers are focusing on
creating and expanding their product offerings to meet the increasing customer
demand. In addition, functional ingredients with immune properties have risen
to the top of consumer preferences following the global pandemic. Owing to the
rising health and wellness trends, functional ingredients inspired by herbs and
spices such as turmeric, lavender, blueberry etc. are gaining popularity.
Moreover, longer shelf life of such products is also appealing to the
consumers. Besides, the potential health benefits of hummus such as presence of
proteins, vitamins, fibres, antioxidants and other nutritional factors have
resulted in increased demand for hummus during the forecast period. Hummus is
also gaining demand among millennials owing to the ongoing demand for on-the-go
food products or convenience foods. This demand can be attributed to the
fast-paced lifestyles, which is anticipated to boost the sales in the hummus
market.
New Product Launches are Driving the Market
Expansion
Owing to the shifting consumer
preferences, major manufacturers are focusing on developing novel products in
order to meet these customer demands. They are also emphasising on adoption of
various market strategies such as acquisitions, new product launches,
collaborations etc. in order to strengthen their market position and enhance
their product portfolio. In September 2023, Summer Fresh had launched three new
dessert hummus creations including Chocolate Brownie Hummus, Pumpkin Pie Hummus
and Key Lime Hummus in order to enter the permissible indulgence market. In
August 2023, Sabra introduced three flavourful collaborations that pair with
America’s bold flavoured brands. These flavours include Buffalo Hummus made
with Frank’s RedHot, Sabra BBQ Hummus inspired by Tubb’s and Sabra Southwest
Hummus. Also, in June 2023, Hope Foods, the organic hummus brand, has announced
a redesigning of packaging for its organic and non-GMO plant-based dips while
also emphasising its Plastic Neutral accreditation.
Product Recalls and Availability of
Alternatives are Likely to be a Challenge for the Market Growth
Product recalls in the hummus
market have emerged as one of the industry's significant issues in recent
years, severely impacting market growth. For instance, in March 2023, Brelita
Foods Ltd had recalled all batches and dates up to and including USE BY: 15 APR
23 of its Seasons Gourmet and Turkish Kitchen brand hummus owing to the
presence of Salmonella. Again, in June 2023, Ramona's had issued an urgent recall
of its Heavenly Original Houmous owing to the possible presence of plastic. Such
product recalls can cause customers to lose trust in the product, which can
have a negative impact on product demand, resulting in revenue losses. Along
with this, the availability of various plant-based dips in the market, such as
tahini, salsa, and others, as well as their expanding consumer popularity, is anticipated
to limit the market expansion over the forecast period.
Lancaster Colony Corporation,
Sabra Dipping Co. LLC, Bakkavor Group plc, Boar's Head Brand, Tribe
Mediterranean Foods Inc., Savencia SA, Abraham's Natural Foods, Ithaca Hummus,
Cedar's Mediterranean Foods Inc., Lantana Foods, Haliburton International Foods
Inc., Roots Hummus, Hannah Foods, Pelopac Inc. are some of the prominent market
players operating in the global hummus market.
Increased Popularity and Consumption of
Dips, Rapid Urbanisation and Acceptance of Cross-Cultural Foods is Accelerating
the Market Growth
North America is anticipated to
hold a significant share in the hummus market owing to the increased production
and consumption of dips and spreads in the United States. Along with this, the
region's growing acceptance of veganism is another element boosting the
customer demand for such plant-based dips. Furthermore, producers are
developing new and appealing products to catch the attention of consumers. On
the other hand, Europe is also expected to witness growth in the hummus market.
This growth can be attributed to rising popularity of dips in European
countries. United Kingdom in particular is increasing the regional sales of
hummus market. Furthermore, Asia Pacific is likely to experience growth in the
hummus market during the forecast period. This growth is influenced by rapid
urbanisation, acceptance of cross-cultural meals, and increased disposable
income. Countries like India, China and Australia are considered to be the
potential target for the hummus market.
The report provides a detailed
overview of the hummus market insights in regions including North America,
Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa.
The country-specific assessment for hummus market has been offered for all
regional market share, along with forecasts, market scope estimates, price
point assessment, and impact analysis of prominent countries and regions.
Throughout this market research report, Y-o-Y growth and CAGR estimates are
also incorporated for every country and region, to provide a detailed view of
the hummus market. These Y-o-Y projections on regional and country-level
markets brighten the political, economic and business environment outlook,
which are anticipated to have a substantial impact on the growth of the hummus
market. Some key country and region included in the hummus market report as
follows:
North America (U.S., Canada)
Latin America (Mexico, Argentina,
Brazil, Peru, Chile)
Europe (Germany, France, Italy, U.K.,
BENELUX, Nordics, Spain, Poland, Russia, CIS)
Asia Pacific (China, ASEAN, India,
Japan, South Korea)
Oceania (Australia, New Zealand)
Middle East and Africa (South
Africa, GCC Countries, Turkey, Israel, Iran)
The Hummus Market Research Report Covers
In-depth Analysis on:
·
Hummus market segments
·
Hummus market dynamics
·
Hummus market value and share analysis
·
Recent trends, restraints, opportunities in hummus
market
·
Companies & competition involved hummus
market
·
Latest technologies in hummus market
·
Supply chain and value chain hummus market
·
Hummus market sales and distribution strategies
Hummus Market Growth Highlights:
·
A comprehensive overview of parent market
·
Market dynamics, demand and trends in the
industry
·
Current, historical and anticipated market size in
terms of volume
·
In-depth market segmentation
·
Competition landscape
·
Key strategies of leading companies and product
portfolio
·
Hummus industry trends and developments
·
Potential and country, regions and segments
exhibiting future growth
·
A detailed viewpoint on hummus market forecast by
countries
·
Essential information to enhance market position
Cannabidiol (CBD) Market - Forecast, COVID-19 Impact, Trend Analysis & Competition Tracking - Global Market Insights 2017-2032
Vegan Cookies Market - Forecast, COVID-19 Impact, Trend Analysis & Competition Tracking - Global Insights 2019-2034
Sports Nutrition Market - Forecast, COVID-19 Impact, Trend Analysis & Competition Tracking - Global Insights 2019-2034