In 2022, the global hummus market size reached a remarkable value of approximately USD 3.9 billion. Driven by evolving consumer preferences and dietary habits, this market is forecasted to grow at a compound annual growth rate (CAGR) of 10.92% between 2023 and 2028, reaching an estimated value of USD 7.0 billion by 2028.
Overview
Hummus, a Levantine dip or spread made from cooked, mashed chickpeas blended with tahini, olive oil, lemon juice, and garlic, has grown in popularity around the globe, becoming a preferred healthy snack option and a vital part of various cuisines. Its nutritional content, versatility, and convenience are key factors propelling its demand in both developed and emerging economies.
Components
The components of the hummus market mainly involve the ingredients and variations of hummus, which include:
Classic Hummus: The traditional chickpea-based dip blended with tahini, garlic, and lemon juice.
Flavored Hummus: Variations of hummus infused with flavors such as roasted red pepper, garlic, jalapeno, and others.
High-Protein Hummus: Hummus that is specially prepared with additional protein content to cater to the health-conscious population.
Market Segmentation
The hummus market can be segmented in various ways:
By Type: The market includes classic hummus, flavored hummus, and high-protein hummus.
By Distribution Channel: The product is sold through supermarkets/hypermarkets, convenience stores, online retailers, and others.
By Geography: The market spans across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Benefits and Applications
Hummus offers numerous benefits, from being a rich source of plant-based protein to providing an array of essential nutrients. Here are its applications:
Healthy Snacking: It is often consumed as a healthy snack option due to its high protein and fiber content.
Meal Component: It is also used as a component of various dishes in different cuisines, served with pita bread or veggies, or spread over sandwiches and wraps.
Factors Driving Growth
Several key factors are driving the growth of the hummus market:
Health Consciousness: The rise in health-conscious consumers who prefer nutritious and plant-based diets is fueling the market.
Vegan and Gluten-Free Trend: The increasing trend of veganism and demand for gluten-free products is boosting the popularity of hummus.
Culinary Innovation: Innovative flavors and uses of hummus in culinary applications are further propelling its demand.
Challenges and Barriers
Despite the favorable growth scenario, the hummus market faces some challenges:
Preservation and Shelf-life: Hummus has a limited shelf-life, and preserving its freshness can be challenging.
Raw Material Fluctuation: Variations in the prices and availability of raw materials can impact production costs and market growth.
Market Opportunities and Future Outlook
The hummus market presents promising opportunities for growth:
Product Innovation: As brands continue to innovate with new flavors and health-centric variations, the market is set to expand.
Rising Popularity in Emerging Markets: As hummus becomes more well-known in regions like Asia Pacific, the market potential expands.
By 2028, the hummus market is projected to reach a value of USD 7.0 billion, propelled by evolving dietary trends and increasing acceptance of international cuisines. Future advancements and expansions in this market will be driven by the continuous innovation and marketing efforts of key players. The hummus market, with its numerous flavors and health benefits, is expected to continue flourishing in the foreseeable future.
