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Hummus Market Size, Share, Trends & Industry Growth Analysis Report to 2023-2030

The global hummus market size was worth around USD 3.6 Billion in 2022 and is predicted to grow to around USD 10.21 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 14.7% between 2023 and 2030.

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➤ The market demand is being driven by the increasing awareness of health.

The global hummus market is anticipated to expand as a result of the growing health consciousness of the general populace. The diversity of raw materials necessary to produce edible items is the reason why hummus is exceptionally healthy. The accessibility of basic materials is not a concern, as these ingredients are readily available in local stores. Additionally, the procedures are exceedingly straightforward and necessitate no sophisticated utensils for preparation. It is a preferred seasoning among health enthusiasts due to its ability to enhance the flavor of food without causing damage to the human body, which is a rarity in the market.

➤ Restricting market expansion by altering the prices of primary materials

The hummus industry may encounter growth constraints as a result of the volatile prices of basic materials, despite the significant growth it has experienced in the past few years. Chickpeas are the primary component of hummus, and the cost of the basic material is contingent upon the export-import status of the trading nations, which is influenced by economic and geopolitical factors. The ultimate price of the ingredient can be significantly influenced by a variety of factors, including crop yield, changing weather conditions, and the supply chain. The profit margin and business decisions are influenced by the combined effect.

➤ Diversifying the product portfolio to offer exceptional growth prospects

The diversification of the product portfolio is one of the primary strategies that businesses employ when providing mass consumer items. If the market participants are able to introduce additional hummus varieties that complement the diverse selection of pita bread, vegetable sticks, and crackers, they can anticipate increased growth opportunities. Companies will be able to generate a dedicated consumer database by creating a new iteration of the snacking experience. Furthermore, companies may maintain an advantage over their competitors by conducting ongoing research and innovation regarding ingredients and flavors.

➤ The market expansion is being challenged by an increase in competition.

The global market has recently become more competitive as a result of the addition of numerous domestic players and the product innovation undertaken by extant international companies, despite its tremendous potential. Furthermore, a significant number of individuals opt to prepare hummus at home and resell it locally as a small business, thereby devaluing the market.

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The Global Hummus Market is segmented based on product, application and region

Global Hummus Market: Product Segment Analysis

● Roasted Red Pepper
● Roasted Garlic White Bean
● Creamy Avocado
● Black Bean
● Smoky Sweet Potato
● Others

Global Hummus Market: Application Segment Analysis

● Grocery Stores
● Convenience Stores
● Supermarkets & Hypermarkets
● Online Retail

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The global Hummus market profiles key players such as:

● Nestle SA
● Agro Tech Foods Ltd.
● Cedars Mediterranean Foods Inc.
● Haliburton International Foods Inc.
● Bakkavor Group PLC
● Harvest Moon Foods
● Boars Head Brand
● Hummus Goodness
● Damai International
● Lakeview Farms LLC
● Fountain of Health
● Kasih Food Production Co.
● Hope Foods LLC

???? Recent Developments:

• Fresh Cravings, a snack-making brand based in the United States, announced the introduction of three new hummus varieties in October 2022: Mediterranean, Lemon Garlic, and Jalapeno Cilantro. The company has successfully broadened its current product line, and the items will be available for purchase at all Walmart stores.

• Fresh Cravings announced in June 2022 that it had introduced a family-sized hummus container that measures 17 oz in response to the high demand for its products. The new variants are in addition to the existing 10-ounce container.

➤ The Middle East will continue to be the leader in market growth.

The Middle East region presently dominates the global hummus market. Hummus originated in the same region and continues to have the largest consumer database in Turkey, Israel, and Lebanon, to name a few. The food item is served in conjunction with standard meals and is considered a component of the diet culture. Hummus is consumed by nearly all families in the Middle East on a weekly basis. North America is the second-fastest-growing region.

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