North America Hummus Market
North America comprises developed and developing countries such as the US, Canada, and Mexico. Consumers in the US and Canada are moving towards a healthy lifestyle and prefer products that are equally tasty and are healthy. Therefore, the increasing health concern among consumers drives the growth of the hummus market in North America. The companies are continuously enhancing the overall business processes to meet the customers demand in the best possible way. Several domestic and international companies have a strong foothold in the North American region. The region largely supports the growth of the hummus market through strong focus on investments in food and beverage sectors. In the North America region, U.S. is the chief market in the region, followed by Canada and Mexico. Demand for hummus is high, and industrialists are eyeing for opportunities to enlarge their business operations with improving economic conditions.
Strategic insights for the North America Hummus provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 601.39 Million |
| Market Size by 2027 | US$ 1558.70 Million |
| Global CAGR (2020 - 2027) | 12.7% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Hummus refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The hummus market in North America is expected to grow from US$ 601.39 million in 2019 to US$ 1558.70 million by 2027; it is estimated to grow at a CAGR of 12.7% from 2020 to 2027. The rise in popularity of the hummus has motivated the manufacturers to boost the production volume and undertake investment in research and development along with new product development of hummus product with exotic taste which could suit consumer needs. The rise in industrial field expenditures coupled with increasing intense competition, and growing of adoption of hummus as a plant based healthy ingredients has driven the demand for new product launches. To keep in line with the objective, the key players in the market are launching new products with unique combination of vegetables, spices and other ingredients which is quite different from the original hummus. These include white bean hummus, black olive hummus, roasted garlic hummus and many others. Other than this, recent hummus launches with diversified flavor combinations includes pesto, harissa coriander, and sesame. Further, in 2017, a US start-up named as Delighted By launched a range of sweet hummus which was designed to be consumed as a dessert. Such a type of hummus is available in four different and indulgent flavors including snicker doodle, brownie batter, vanilla and choco-mint. Apart from being tasty, this type of hummus product is positioned to be a healthier alternative to the desserts.
The U.S has the highest number of confirmed cases of COVID-19, as, compared to Canada and Mexico. This is likely to impact the chemical and materials industry in the region as, due to the COVID-19, the supply chain is likely to get affected. In addition, the overall manufacturing processes, research, and development activities will also impact market growth.
In terms of type, the original hummus segment accounted for the largest share of the North America hummus market in 2019. In terms of application, pastes and spread held a larger market share of North America hummus market in 2019. In terms of the distribution channel, supermarket and hypermarket accounts for the largest share in the North America hummus market.
A few major primary and secondary sources referred to for preparing this report on the North America hummus market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Bakkavor, Boar’s Head Brand, Cedar’s Mediterranean Foods Inc., Fountain of Health, Hope Foods, LLC, Hummus Goodness, Lancaster Colony Corporation, Lantana Foods, Strauss Group , Tribe Hummus,
The List of Companies - North America Hummus Market
The North America Hummus Market is valued at US$ 601.39 Million in 2019, it is projected to reach US$ 1558.70 Million by 2027.
As per our report North America Hummus Market, the market size is valued at US$ 601.39 Million in 2019, projecting it to reach US$ 1558.70 Million by 2027. This translates to a CAGR of approximately 12.7% during the forecast period.
The North America Hummus Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Hummus Market report:
The North America Hummus Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Hummus Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Hummus Market value chain can benefit from the information contained in a comprehensive market report.
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