Market Overview
Extensive research on the Europe Hummus Market indicates that the market is expected to have significant growth during the forecast period of 2020 to 2026. The value of the Europe Hummus market is estimated to be USD 653.36 million by 2030, registering a CAGR of 9.2% over the forecast period.
Hummus is made from lemons, garlic, olive oil, and tahini with gram, beans, lentils, or other lemon purees. It is usually eaten with pita bread or other whole-grain bread which acts as a source of protein, it contains essential amino acids. Due to its high-protein content, hummus is emerging as a source of highly nutritious plant-based protein for Europe's growing vegetarian population.
The covid-19 pandemic has negatively impacted the global economy as well as the food industry due to lockdown and social distancing. But during the pandemic, the rising demand for home-cooked food and easy cooking items like hummus has increased. This makes the Europe Hummus Market value goes up even more.
Market Segmentation
Segmentation helps large and small businesses effectively market their products and builds a corporate strategy that drives their products to the right audience. The Europe Hummus Market is segmented based on product, packaging, distribution channel, and region.
Based on the product type the Europe Hummus Market is divided into Classic, Lentil, Edamame, White Bean, and Black Bean. The market experts anticipated that Europe Hummus Market sellers should focus on capturing business opportunities from the classic Hummus segment as it is responsible for the largest Europe Hummus Market Share in the base year.
The market is divided into packaging types including Tubs, jars, bottles, and others. Due to the rising demand for plant-based protein, this sector occupied a significant market share.
Based on distribution the Europe Hummus market is divided into two parts includes, stored based and non- stored based. The stored-based segmentation is divided into supermarkets, hypermarkets, convenience stores, and others. The growth of the market is based on the rising number of convenience stores.
Regional classification
Based on region the Europe Hummus Market Outlook is segmented into the regions of North America, South America, Europe, Asia, and Africa.
According to regional analysis, the Middle East and the United States account for the largest share of the traditional value of Hamas production in the Middle East.
UK, Germany, France, Spain, Italy, Poland, and the Rest of Europe have been identified as the most attractive destinations for food exporters. Another reason for the growth of this market is the growing demand for packaged Humus products, especially in Western Europe, as well as the growing demand for plant-based proteins and the growing choice for healthier eating habits, which are expected to grow substantially in Europe Hummus Market.
Industry Growth
The Europe Hummus Market has the potential to grow a lot in the coming years. One of the main parameters to encourage market growth is the growing concern about the use of toxic chemicals in agriculture and the adverse effects on consumer health. Though, it is a growing industry for the digitization of food services. Consumers are increasingly choosing to order food online for home delivery.
The key players in this market are going for joint ventures and alliances which are expected to increase the total market size during the forecast period. Obela Australia is one of the leading key players in the Europe Hummus Market.
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