The North America and LATAM hummus market was valued at US$ 973.10 million in 2019 and is projected to reach US$ 2,555.25 million by 2027; it is expected to grow at a CAGR of 12.9% from 2020 to 2027.
Hummus is a paste or dip that is preferably consumed with pita, it is prepared from chickpeas, mashed with garlic, oil, lemon juice, and tahini. Hummus is a composition of natural ingredients and is known for its rich nutritional profile, which helps to maintain heart and blood health while managing weight. They are one of the organic and clean label forms of products that are increasingly preferred by consumers opting minimally processed and organic plant-based food items. Growing consciousness toward health among the population coupled with a surge in demand for protein rich foods and adoption of veganism trend are expected to proliferate the growth of the market.
In 2019, North America contributed to a larger share in the North America and LATAM hummus market. The growth of the hummus market in this region is primarily attributed to the rapid growth of food & beverage industry. Rising demand for healthy and nutritional food products among the health-conscious consumers is another major factor driving the hummus market in North America. Additionally, rising trend toward veganism coupled with growing preference toward healthy convenience food items and protein rich food is expected to fuel the growth of the North America hummus market.
The COVID-19pandemic originated in Wuhan (China) in December 2019, and since then, it has spread across the globeat a fast pace. The US, Brazil,India, Russia, Italy, China, Spain, France, and Germany are among the worst-affected countries in terms of confirmed cases and reported deaths as of June 2020. The pandemic has affectedeconomies and industries due to enforced lockdown, travel bans, and business shutdowns. Food & beverageis one of the world’s major industries facing serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak.The global economic break down due to COVID-19 is also affecting the growth of the North America and LATAM hummus market due to shutting down of factories and obstacles in supply chain.
North America and LATAM Hummus Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Increase in Consumption of Protein-Rich Food
Hummus is a rich source of proteins. Proteins are considered as building blocks to maintain the structure and function of the human body. The benefits associated with protein are attracting consumers to prefer protein-rich food & beverages available in the market. As protein-rich food is considered one of the strongest trends in the food &beverage industry, it creates a huge demand for hummus in North America and LATAM. Additionally, the growing focus toward meat-free alternative and plant based ingredients to support the trend of veganism, is further proliferating the demand for hummus among the population. Following the protein rich food trend, the manufacturers are trying to incorporate nutritional food ingredients, such as hummus, in the preparation of food products so as to improve the overall nutritional aspect of the food. Hummus can be conveniently prepared and it acts as a significant condiment to other recipes. Moreover, growing health and wellness trends has created a significant demand for functional food items over the past years.
Type –BasedInsights
Based on type,the hummus marketis segmented into original hummus, red pepper hummus, black olive hummus, white beans hummus, edamame hummus, and others. In 2019, the original hummus segment dominated the North America and LATAM hummus market; however, the black olive hummus segmentis expected to grow at a higher CAGR during the forecast period.Original hummus is a type of spread, dip, or savory dish that is prepared from cooked or mashed chickpeas, which is blended with tahini, garlic, or lemon juice. Original hummus preparation is an easy and affordable process, and the resulting flavor is superior to the tubs of store-bought dips. Original hummus is often paired with freshly fried falafel and is also shared alongside full mudammas in a dish that is known as hummus full. In some western countries such as the US and Mexico, original hummus is served as an appetizer or snack dip together with vegetable crudities, chips, and pita breads. The original hummus is high in nutrition content and is packed with plant based proteins. It is rich in fibers that promote digestive health and feeds the good gut bacteria in the human body. Besides this, it is low in glycemic index that helps in controlling the blood sugar levels.
North America and LATAM Hummus Market, by Type - 2019 and 2027
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Application-BasedInsights
Based on application, the North America and LATAM hummus market is segmented into sauces and dips, pastes and spreads, and others.In 2019, sauces and dips segmentheld the largest share of the North America and LATAM hummusmarket; whereas, the pastes and spreads segment is expected to register the fastest CAGR during the forecast period. Hummus is a plant based ingredient which is extensively used to prepare sauces and dips in the food industry. As hummus is prepared using natural and clean label ingredients, it is considered to be a healthier dip option compared to sauces or dips prepared from cheese or mayonnaise. High protein content makes it a healthier consumption option. With the growing consumer inclination toward fresh and minimally processed convenience products along with rising consumption of dips, spreads and sauces, the demand for hummus is expected to rise in the North America and LATAM region.
Distribution Channel-Based Insights
Based on distribution channel, the North America and LATAM hummus market is segmented into supermarket/hypermarket, convenience stores, online, and others.In 2019, the supermarket/hypermarketsegmentaccounted for a major share of the North America and LATAM hummusmarket; whereas, the onlinestores segment is expected to register the fastest CAGR during the forecast period. Hypermarkets and supermarkets are self-help stores where products are placed in an organized way in different sections and shelves to attract customers. These types of stores offer an extensive choice of hummus products to consumers at one place in affordable prices compared to other distribution channels. This factor has led to increased sales of hummus products through supermarkets and hypermarkets.
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North America and LATAM Hummus Market: Strategic Insights
Market Size Value in US$ 973.10 Million in 2019 Market Size Value by US$ 2,555.25 Million by 2027 Growth rate CAGR of 12.9% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
North America and LATAM Hummus Market: Strategic Insights
| Market Size Value in | US$ 973.10 Million in 2019 |
| Market Size Value by | US$ 2,555.25 Million by 2027 |
| Growth rate | CAGR of 12.9% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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Several strategiessuch as merger and acquisitionand business planning and strategies are commonly adopted by the companies to expand their footprint worldwide. Lancaster Colony Corporation; Strauss Group; Bakkavor; Cedar’s Mediterranean Foods, INC.; and Tribe Hummus are among the key players in the North America and LATAMhummus market implementing these strategies to enlarge the customer base and gain significant share, which, in turn allows themto maintain their brand name.
North America and LATAM Hummus Market – by Nature
- Original Hummus
- Red Pepper Hummus
- Black Olive Hummus
- White Bean Hummus
- Edamame Hummus
- Others
North America and LATAM Hummus Market – by Application
- Sauces and Dips
- Pastes and Spreads
- Others
North America and LATAM Hummus Market – by Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores
- Online
- Others
Company Profiles
- Bakkavor
- Boar’s Head Brand
- Cedar’s Mediterranean Foods Inc.
- Fountain of Health
- Hummus Goodness
- Hope Foods, LLC
- Lantana Foods
- Lancaster Colony Corporation
- Tribe Hummus
- Strauss Group
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Application, Distribution Channel, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
- Bakkavor
- Boar’s Head Brand
- Cedar’s Mediterranean Foods Inc.
- Fountain of Health
- Hummus Goodness
- Hope Foods, LLC
- Lantana Foods
- Lancaster Colony Corporation
- Tribe Hummus
- Strauss Group
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