Market Research Future (MRFR) believes that the Europe Hummus Market Forecast will capture a 9.2% CAGR during the evaluation period. By 2027, the market will be valued at USD 653.36 Million, expects Market Research Future.
Top Drivers and Key Deterrents
The incredible growth rate of the tourism industry and hotel sector in Europe, and the strong impact of social media on the consumers are the biggest drivers of the market growth. Hummus sales are booming rapidly in the region, given the expansive Middle Eastern population increasingly migrating to European countries and introducing their traditional cuisines. As a result, hummus is now one of the popular exotic dishes that is witnessing significant demand among Europeans. Also, with the rapidly soaring number of vegetarians and vegans, plant-based food products like hummus are experiencing a huge demand in the region.
Hummus is consumed extensively in Europe thanks to the high purchasing capacity of the consumers and the changes in their lifestyle. The product demand is further pushed by the large number of quick service restaurant chains, emergence of easy-to-use food service apps, surge in health awareness as well as urbanization. Consumer preference for artisanal foods coupled with the launch of different flavors can also add significant value to the regional market.
The Europe Hummus Market Forecast has been extensively covered in the MRFR report, while also highlighting a few major segments, namely product type, packaging type and distribution channels.
Product types considered in the MRFR report are Black Bean Hummus, Lentil Hummus, Classic Hummus, White Bean Hummus, Edamame Hummus and more. Classic hummus is the highest gaining segment in the market and should garner a valuation of USD 435.42 million by 2026-end. Classic humus is quite popular in Europe, in view of the growing prevalence of dishes from the Middle East. cuisine in Europe. But, in the ensuing years, the lentil hummus segment can secure a higher growth rate.
Packaging type-based segments include Jars & Bottles, Tubs and others.
Distribution channels include Store-Based [which are Convenience Stores, Supermarkets & Hypermarkets, and others] as well as Non-Store-Based. Supermarkets and hypermarkets are in the lead, since leading players prefer selling their products through retail stores. Meanwhile, various firms are setting up new mortar and brick stores worldwide to boost their customer base.
Italy, Germany, Spain, Poland, France and the UK are the primary markets for hummus in Europe.
The UK is the biggest market for hummus in Europe with a share of 42.09% and managed to secure the leading position in 2019. The country accommodates the highest number of consumers, given the expanding ethnic population in the country and the growing exchange of different cultures.
Spain is a promising market, since the staple food of the country is generally considered Mediterranean. Spain is also known for its vast production and consumption of olive oil as well as paprika, which has made it possible for hummus to gain significant traction in the country. Significant interest in a variety of ethnic and exotic cuisines and flavours will have a positive impact on the hummus market in the country. Additionally, new launches, with emergence of flavour blends such as pesto, coriander, harissa, and sesame will contribute to the market growth in Spain. Also, the shift from retail segment to e-commerce by consumers along with changing consumption patterns has been the latest trend in the European market for hummus.
The major Europe hummus developers are Sabra Dipping Co., LLC (US), Zorba Delicacies Limited (UK), Beliès (Belgium), Labeyrie Fine Foods (France), Moorish (UK), Orexis Fresh Foods Ltd (UK), MeToo! Foods (UK), Deldiche N.V. (Belgium), Lazy Foods (Netherlands), Obela (Australia), and more.
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.
Market Research Future (part of Wantstats Research and Media Private Limited), 99 Hudson Street,5Th Floor, New York, New York 10013, United States of America