Hummus Market Poised to Register 9.2% CAGR through 2027

 

Market Highlights


Europe Hummus Market is estimated to be valued at USD 653.36 Million by 2026, registering a CAGR of 9.2% during the forecast period. Hummus is made from the puree of either chickpea, beans, lentil, or other legumes, along with lemon juice, garlic, olive oil, and tahini. It is usually eaten with pita bread or another type of whole-grain bread that act as protein sources, containing essential amino acids. Owing to its high-protein ingredients, hummus is emerging as a highly nutritional plant-based protein source for the increasing vegan population in Europe.      


The Europe hummus market is expected to grow at a significant pace during the forecast period. In the current market scenario, increasing demand for Mediterranean food in the region is driving the growth of the Europe hummus market. This has led to the increased sales and launch of hummus products in the region over the past few years. The market has also witnessed substantial innovation in terms of flavors in new products. The demand for organic products has increased exponentially in Europe. This offers manufacturers of hummus lucrative growth opportunities with the launch of organic variants.  


Segmental Analysis


The Europe hummus market has been segmented on the basis of product type, packaging type, distribution channel, and country.


By product type, the market has been divided into classic hummus, lentil hummus, edamame hummus, white bean hummus, black bean hummus, and others. The classic hummus segment accounted for the largest market share in 2019. The segment is expected to maintain its dominance during the forecast period due to the increasing popularity of Middle Eastern cuisine in Europe. Major players such as Strauss, Sabra Dipping Co., LLC, and Moorish offer classic hummus as part of their product portfolios. However, the lentil hummus segment is projected to be the fastest-growing segment during the forecast period.    Lentils are a source of protein and help in lowering cholesterol and stabilizing blood pressure; they also have low fat content. The increasing awareness regarding these benefits has resulted in the high demand for lentil hummus across the region.


On the basis of packaging type, the market has been divided into tubs, jars & bottles, and others. The tubs segment dominated the market in 2019 and is projected to be the fastest-growing segment during the forecast period. Tubs are the most popular packing type for hummus due to their ease and convenience. Polystyrene or polyethylene are widely used to manufacture hummus tubs.


Based on distribution channel, the market has been segmented into store-based and non-store-based. The store-based segment has further been divided into supermarkets & hypermarkets, convenience stores, and others. The store-based segment accounted for a larger market share in 2019, with supermarkets & hypermarkets contributing to the majority of hummus sales. Consumers prefer store-based channels as they provide a one-stop shopping experience. However, the non-store-based segment is projected to exhibit a higher growth rate during the review period.


Regional Analysis


Geographically, the Europe hummus market has been segregated into the UK, Germany, France, Italy, Spain, Poland, and the Rest of Europe. As per MRFR analysis, the UK accounted for the dominant share of the Europe market in 2019, followed by Germany. With the adoption of cross-cultural cuisines, hummus is the most widely consumed Middle Eastern food in several European countries, especially Germany, the UK, and Italy. With the increasing adoption of veganism in Europe, especially in the UK, the demand for plant-based protein has been growing. In 2018, the UK ranked second among the most popular countries for veganism. Germany, the UK, Iceland, Italy, Poland, and Sweden are the major country-level markets in Europe witnessing a growing vegan population. Consumers in these countries demand plant-based protein over animal sources, driving the growth of the regional hummus market.


Browse Full Report Details @ https://www.marketresearchfuture.com/reports/europe-hummus-market-10337


Key Players

Market Research Future recognizes Obela (Australia), Sabra Dipping Co., LLC (US), Moorish (UK), Deldiche N.V. (Belgium), MeToo! Foods (UK), Lazy Foods (Netherlands), Labeyrie Fine Foods (France), Beliès (Belgium), Orexis Fresh Foods Ltd (UK), and Zorba Delicacies Limited (UK) as the Key Players in the Europe Hummus Market.

Key Findings of the Study

  • The Europe hummus market is expected to register a growth rate of 9.2% from 2020 to 2026.
  • The lentil hummus segment is estimated to register the highest growth rate of 9.5% during the forecast period.
  • On the basis of distribution channel, the store-based segment is expected to hold a larger market share during the forecast period.

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

 

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