Hummus Market Trade Analysis and Statistical Forecast (2024-2031) | Nestlé S.A., CEDAR'S MEDITERRANEAN FOODS, INC., Haliburton International Foods, Inc.

Hummus Market Research Report By DataM Intelligence: A comprehensive analysis of current and emerging trends provides clarity on the dynamics of the Hummus market. The report employs Porter's Five Forces model to assess key factors such as the influence of suppliers and customers, risks posed by different entities, competitive intensity, and the potential of emerging entrepreneurs, offering valuable insights. Additionally, the report presents research data from various companies, including their benefits, gross margins, and strategic decisions in the global market, all conveyed through tables, charts, and infographics.

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What is the projected growth rate (CAGR) of the Global Hummus market from 2024 to 2031, and what is the market value expected to change by 2031?

Global Hummus Market reached US$3.85 billion in 2023 and is expected to reach US$ 9.68 billion by 2031, growing with a CAGR of 10.2% during the forecast period 2024-2031.

What is Hummus Market?

The hummus market involves the production and distribution of this popular Middle Eastern dip made primarily from blended chickpeas, tahini, olive oil, lemon juice, and garlic. Known for its creamy texture and nutritious profile, hummus has gained immense popularity worldwide as a healthy snack and versatile ingredient in various culinary applications. The market is driven by increasing consumer demand for plant-based foods, health-conscious snacking options, and the growing trend of Mediterranean cuisine.

Growth Driver

Growing Vegan Population

An increasing number of consumers are embracing vegetarian, vegan, or flexitarian diets, driven by ethical concerns, environmental sustainability, and health benefits. According to the Vegan Society, sign-ups for the Veganuary campaign reached a record high in 2022, with over 700,000 participants from nearly every country participating in the challenge to adopt a vegan diet for the month of January. This shift reflects a broader trend towards plant-based living, highlighting the rising awareness and commitment to healthier and more sustainable food choices among individuals worldwide.

Key Players:

Profiles of some of the major players in the global Hummus market, which include Nestlé S.A., CEDAR'S MEDITERRANEAN FOODS, INC., Haliburton International Foods, Inc., Sabra Dipping Company, LLC, Bakkavor Group plc, Boar's Head Brand, Tribe Mediterranean Foods, Inc., Savencia Fromage & Dairy, Abraham's Natural Foods and Ithaca Hummus.

Industry Development:

In November 2023, Fresh Cravings introduced two new hummus flavors: Tajín Chili Lime Hummus, created in collaboration with Tajín, and Dill Pickle Hummus. These new offerings join their existing range, including Classic, Roasted Red Pepper, and Mediterranean flavors.

In August 2023, Sabra launched a new hummus line in partnership with Frank's RedHot and Stubb's. The new flavors include Buffalo Hummus, BBQ Hummus, and Sabra Southwest Hummus, expanding their portfolio with bold, spicy options.

The purpose of the report is to offer a comprehensive analysis of the market, along with insightful conclusions, statistical data, historical information, market data that has been confirmed by the industry, and predictions based on a sound methodology. By identifying and examining market segments and forecasting global market size, the study also contributes to understanding the dynamics and structure of the global Hummus market.

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Market Segments:

The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviours.

By Type: Classic, White Bean, Lentil, Roasted Garlic, Red Pepper, Others.

By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Others.

By Packaging Material: Tubs/Cups, Jar/Bottles, Others.

By End-User: Retail Consumers, Food Industry, Others.

Regional Break out:

☞ North America - US, Canada, Mexico

☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe

☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific

☞ South America- Brazil, Argentina, Colombia, Rest of South America

☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel

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Key Features

➧ Gain deep insights into market dynamics, trends, and opportunities to stay ahead in a competitive landscape.

➧ Track competitor's movements in real time, allowing you to swiftly adapt strategies and remain competitive.

➧ Compare your performance with industry leaders to identify gaps, strengths, and areas for improvement.

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➧ Receive actionable insights and recommendations to drive your business toward growth and long-term success.

➧ Tailor competitive intelligence to your unique business needs, ensuring relevant and focused analysis.

➧ Evaluate supply chain efficiency and logistics strategies to optimize operations and minimize disruptions.

➧ Understand key players, stakeholders, and partnerships to navigate the competitive landscape more effectively.

➧ Identify and target specific market segments with detailed intelligence on customer preferences and behaviours.

➧ Stay informed on regulatory changes and legal requirements impacting your industry to ensure compliance and mitigate risks.

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