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The hummus market share in Europe is expected to increase by USD 321.34 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.53%.
This hummus market research report of Europe provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers hummus market segmentation in Europe by type (classic hummus, lentil hummus, and others) and geography (UK, Germany, France, Spain, and Rest of Europe). The hummus market report of Europe also offers information on several market vendors, including Deldiche NV, LABEYRIE FINE FOODS, Lazy Foods BV, MeToo Foods, Moorish Ltd., OREXIS FRESH FOODS Ltd., Perla Deutschland GmbH, Pietercil Group, Strauss Group Ltd., and Zorba Delicacies Ltd. among others.
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The growing popularity of hummus is notably driving the Europe hummus market growth, although factors such as fluctuations in raw material prices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the hummus industry in Europe. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Hummus Market Driver in Europe
Various hummus manufacturers such as Moorish Ltd and Deldiche NV are headquartered in Europe, which is one of the reasons consumers in the region are accepting this food dip. Also, sesame, in the form of tahini paste, is a major ingredient in making hummus. Thus, with the growing demand for hummus, players are currently experimenting with the taste of hummus to attract new consumers and retain old ones. Hummus has recently gained importance in Europe as it is a staple item that is eaten along with pita bread. Hummus and tahini together provide an ethnic flavor to any dish. In terms of health, sesame seeds, when added to hummus, boost the content of protein, vitamins, and essential minerals. With the availability of hummus in different flavors like red pepper hummus and garlic hummus, consumers have a wide variety to choose from. Thus, with the growing popularity of hummus, the demand for tahini is also expected to increase. This, in turn, will drive the growth of the market in focus during the forecast period.
Key Hummus Market Challenge in Europe
Hummus manufacturers face constant risks because of the fluctuations in raw material prices. Changes in raw material shipping prices affect the retail price of fresh ingredients. Any increase in the prices of ingredients, such as tahini, not only raises the manufacturing costs but also decreases the profit margins for manufacturers. This, along with the need to remain competitive in the market, compels hummus manufacturers to use low-cost substitutes. A variety of ingredients are required to manufacture hummus products on a commercial scale. Therefore, the fluctuations in the price of ingredients used to make hummus often create problems in production and pricing for hummus manufacturers. Manufacturers find it difficult to estimate spending or control costs because of price fluctuations. This also leads to inconsistency in the quality of products, thereby hampering demand in the market. Therefore, fluctuations in raw material prices may hamper the growth of the hummus market in Europe during the forecast period.
This hummus market analysis report of Europe also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the hummus market in Europe encompasses successful business strategies deployed by the key vendors. The Europe hummus market is concentrated and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The hummus market forecast report of Europe offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Type
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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