The global hummus market is set to skyrocket at a compound annual growth rate of 11.47 percent every year by 2023, according to a new report.
The Global Hummus Market 2019-2023 says one major factor in the growth is the rising global vegan population.
In addition, increasing urbanization as well as changing consumer lifestyles are a factor.
Vegan hummus market
“Busy lifestyle of consumers forces them to seek ready-to-consume food products such as hummus,” says the report.
It adds that a challenge facing the hummus market is increasing product recalls.
“Product recalls are issues due to various factors such as contamination and mislabelling of ingredients,” it claims.
One such recall took place in early 2017, when Marks & Spencer and Sainsbury’s removed some hummus batches from their shelves on the grounds of taste (rather than safety) issues.
“We’re seeking confirmation that this withdrawal was done on quality rather than safety grounds, and the information we’ve received so far shows there is no indication of a food safety concern,” spokesman for the Food Standards Agency said at the time.
“The FSA hadn’t been notified about this withdrawal, but food businesses only need to make us aware of withdrawals if they are for food safety reasons.”