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Hummus Market Trends, Share, Size, Demand, Growth Opportunities, Revenue Analysis and Forecast by 2028 The global hummus market size is set to gain momentum from the increasing shift of people towards the vegan diet, especially in Europe and North America. The surging awareness of environmental sustainability and animal welfare is compelling people to opt for plant-based dips. As per Statista, in the U.S., sales of refrigerated plant-based dips went up to USD 11 million in April 2019. As per the report, the market size was USD 2.62 billion in 2020. It is predicted to grow from USD 2.95 billion in 2021 to USD 6.60 billion in 2028 at a CAGR of 12.17% in the forecast period. Companies profiled in the hummus market report are: Nestlé S.A. (Vevey, Switzerland) Cedar’s Mediterranean Foods, Inc. (Massachusetts, U.S.) Haliburton International Foods, Inc. (California, U.S.) Strauss Group, Ltd. (Sabra Dipping Company, LLC) (Petah Tikva, Israel) Bakkavor Group Plc (London, United Kingdom) Tribe Hummus (Massachusetts, U.S.) Boar’s Head Brand (Florida, United States) Hummus Gourmet, LLC (Lantana Foods) (Texas, U.S.) The Kraft Heinz Company (Illinois, U.S.) Hope Foods, LLC. (Colorado, U.S.) Report Coverage: We have conducted extensive primary and secondary research to gather information about various aspects of this report. Our special interviews with end-user respondents and supply side respondents helped in gaining insights into the average pricing, per capita consumption trend, and average spending on products, growth rate, market size, and dynamics. We have also taken information from reputed journals, articles, and press releases of companies operating in this industry. Drivers & Restraints: Rising Usage of Functional Ingredients to Improve Immunity will Aid Growth Consumers across the globe are nowadays demanding for unique flavors in their dips. Hence, several manufacturers are striving constantly to come up with novel products to cater to the taste and preferences of consumers. O'Dang Foods, for instance, introduced two new flavors of balsamic feta and classic Mediterranean hummus in the U.S. in June 2020 to fulfill the high demand for Mediterranean cuisine. A few other companies are equipping their dips with various functional ingredients, such as lime, turmeric, blueberry, and lavender because of the ongoing COVID-19 pandemic for enhancing immunity. However, the increasing availability of substitutes, namely, salsa and tahini may hamper the hummus market growth. Regional Insights: North America to Dominate Fueled by Higher Consumption of Dips and Spreads in the U.S. Geographically, North America held USD 1.33 billion in terms of revenue in 2020. It is anticipated to dominate the market in the upcoming years. The surging consumption and production of spreads and dips, especially in the U.S. would bolster growth. Also, companies are trying to produce attractive and new dips to generate more sales. Argania Foods, for instance, introduced vegan cauliflower keto hummus dip in the U.S. in December 2019. On the other hand, Europe is likely to remain in the second position backed by the high popularity of the product in the U.K. In Asia Pacific, the rising disposable income of people is expected to aid growth. Segments: Classic Segment Earned 41.40% Share in 2020: Fortune Business Insights™ Based on type, the market is divided into red pepper, classic, black olive, white bean, roasted garlic, and others. Out of these, the classic segment is set to remain at the forefront in the near future because of its versatility and easy availability. It can be consumed as a dip, spread, or appetizer. At the same time, it is highly nutritious and naturally gluten-free. The segment generated 41.40% in terms of the hummus market share in 2020. Competitive Landscape: Key Players Focus on New Product Development to Intensify Competition The global market houses a large number of international and local companies that are constantly launching state-of-the-art products in various sizes to meet consumers’ needs. Most of them are conducting R&D activities to create unique dips. KEY INDUSTRY DEVELOPMENTS: April 2021: Ithaca Hummus unveiled two popular flavors, namely, Lemon Dill and Lemon Garlic in the sharing-size 17 oz. container for the first time. It would help the company to offer innovative products to those who consume the product on a regular basis. May 2020: Brami launched a new hummus made from lime juice, sunflower & olive oil, and lupini beans. It does not require refrigeration or contain artificial preservatives. Browse In-depth Summary of This Research Insight: https://www.fortunebusinessinsights.com/hummus-market-105632

The global thermoplastic elastomers market is set to gain traction from the rising demand for bio-based products to increase sustainability and support environmental protection. Fortune Business Insights™ published this information in a new study, titled, “Thermoplastic Elastomers Market Size, Share & Industry Analysis, By Type (Styrenic Block Copolymers, Thermoplastic Polyurethane, Thermoplastic Vulcanizates, Thermoplastic Polyolefins, Copolyester Elastomers, and Others), By Application (Automotive, Building & Construction, Footwear, Electrical & Electronics, Medical, and Others), and Regional Forecast, 2020-2027.” The study further mentions that the thermoplastic elastomers (TPEs) market size was USD 26,856.8 million in 2019 and is projected to reach USD 39,424.6 million by 2027, exhibiting a CAGR of 5.7% during the forecast period. Information Source- https://www.fortunebusinessinsights.com/thermoplastic-elastomer-tpe-market-104515 How is This Report Developed? We refer to secondary data sources, such as press releases of end-user facilities, investor presentations, annual reports, and industry journals to gather authentic information of the market. Our unique bottom-up approach helps in generating crucial data about the competitive landscape and recent industry developments, such as new product launches, collaborations, agreements, joint ventures, partnerships, contracts, and acquisitions. We also conduct extensive primary research to collect information about the current market trends. Drivers & Restraints- Increasing Need to Manufacture Automotive Gaskets to Aid Growth People nowadays are demanding for lightweight vehicles worldwide. Hence, the automotive industry is conducting research and development activities to bring innovations. Thermoplastic elastomers are extensively used in automotive gaskets, exterior filler panels, and door & window handles. However, the fluctuating prices of crude oil may hamper the thermoplastic elastomers market growth in the near future. Segment- Automotive Segment to Grow Rapidly Backed by High Demand for Lightweight Vehicles Based on application, the automotive segment dominated in 2019 by generating the largest thermoplastic elastomers market share. This growth is attributable to the rising demand for lightweight vehicles from the rapidly increasing population in numerous countries. TPEs are mainly used to manufacture boots, bonnets, exterior panels, and wipers of vehicles. Regional Insights- Surging Demand for Luxury Vehicles to Accelerate Growth in Europe In 2019, Asia Pacific held USD 14,226.7 million in terms of revenue. It was in the leading position because of the high demand for TPEs from the footwear, construction, and automobile industries. Also, improvements in lifestyles of people are set to augment the economic development in Japan, India, and China. These would surge the middle-class population, thereby driving growth. In North America, high disposable incomes of the masses, coupled with the rising technological advancements in the field of thermoplastic elastomers would propel growth. Europe, on the other hand, is expected to grow considerably backed by the increasing demand for luxury vehicles. Competitive Landscape- Key Players Focus on Expanding Production Capacity to Fulfill Needs amid COVID-19 The market for thermoplastic elastomers contains various prominent manufacturers that are mainly focusing on extending their production capacities to help manufacturers of medical equipment for catering to the high demand amid COVID-19. Below are the two latest industry developments: August 2020: Lubrizol invested in its thermoplastic polyurethane business worldwide to support the high growth in surface protection applications. It would help the company to broaden its capacity in paint protection film (PPF) and surface protection, thereby delivering additional benefits to PPF supply chains, brand owners, and manufacturers. May 2020: Huntsman started producing thermoplastic polyurethane (TPU) elastomers for company manufacturing PPE globally. These are nowadays being extensively used to produce cable jackets, face masks, valves, hospital gowns, and tubes amid the COVID-19 pandemic. A list of all the renowned thermoplastic elastomers producers operating in the market: Arkema SA (Colombes, France) Covestro AG (Leverkusen, Germany) Evonik Industries AG (Essen, Germany) Teknor APEX Company (Rhode Island, U.S.) BASF SE (Ludwigshafen, Germany) Huntsman Corporation (Texas, U.S.) Sinopec Group (Beijing, China) Lubrizol Corporation (Ohio, U.S.) Kraton Corporation (Texas, U.S.) Tosoh Corporation (Tokyo, Japan) Other Key Players