Research: Hummus market estimated to reach $1.104B by 2022
The growing acceptance of hummus among end-users has encouraged the key players to increase production.
The global hummus market is projected to reach $1.104 billion by 2022, growing at a CAGR of 9.38% from 2016-2022, according to a research report from Market Research Future, India.
This report includes a study of strategies used in the market, mergers and acquisitions and multiple product launches, and includes product portfolios and developments of leading major players. The growing acceptance of hummus among end-users has encouraged the key players to increase production.
The demand for hummus is expected to increase greatly in the coming years especially in developed countries where it’s becoming an important part of breakfast. Recent developments also entail R&D, innovative product lines and improvement in packaging technology.
Globally, the market for hummus continues to increase due to rising demand of healthy food products. Key drivers also include increased awareness of gluten intolerance and the fact that consumers are switching to hummus for weight loss and healthy dose of proteins, fibers and fats. Additionally, the market is driven by increasing awareness among consumer regarding importance of proper nutrient intake.
Hummus manufacturers are also introducing a number of products with different combinations of vegetables, spices and other ingredients.
The global hummus market is segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). Asia Pacific maintains the major market share followed by North America, as there is change in the consumption pattern. In North America, the demand for classic hummus is increasing than compared to other flavored spreads.