Hummus Market Analysis by Company Overview, Growth 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.)
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.

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.
Information Source:

https://www.fortunebusinessins....ights.com/hummus-mar

Sugar Alcohol Market Share, Size and Forecast by 2023-2027

The global sugar alcohol market size is projected to reach USD 6.70 Billion by 2027 backed by increasing demand for gluten-free food products across the globe. Fortune Business Insights, in its latest report, titled “Sugar Alcohol Market Size, Share & COVID-19 Impact Analysis, By Type (Sorbitol, Xylitol, Maltitol, Erythritol, and Isomalt), Application (Food and Beverages, Pharmaceuticals, and Cosmetics and Personal Care), and Regional Forecast, 2020 – 2027.” observes that the market was worth USD 3.61 Billion in 2019 and will exhibit a CAGR of 7.75% between 2019 and 2027.

List of the Companies Operating in the Sugar Alcohol Market:

Archer-Daniels-Midland Co. – Illinois, U.S.
Cargill Incorporated – U.S.
Ingredion Incorporated – U.S.
Roquette Frères - France
Tereos Starch & Sweeteners s.a.s - France
Tate and Lyle plc – U.K.
Pfizer Inc. – U.S.
Lonza Group - Switzerland
SPI Pharma – U.S.
Merck KGaA – German
Sugar Alcohol also known as polyols are turning out to be the fast emerging alternative to sugar. Though they bore similar resemblance to sugar considering their texture and taste, they contain far less caloric content and fewer health hazards when consumed. In addition to this, several studies have shown that consumption of polyols may lead to improving the health of the consumer. Furthermore, they are hybrids between sugar molecules and alcohol molecules and are present in several fruits and vegetables. Though there are organic polyols, there are few processed from sugars such as cornstarch and glucose.

Drivers and Restraints:

Increasing Demand for Gluten-free Food Products to Bolster Growth

Gluten-free food is turning out to be popular among the people across the globe. An array of benefits such as improved cholesterol levels, better digestive health, increased energy levels, and aiding weight-loss, among others provided by gluten-free diet is driving the companies to launch products to ushers into the popularity of the diet. Glucose syrup that includes polyols such as maltitol and sorbitol are extensively used across several regions. Furthermore, growing demand for corn-based glucose syrup that is believed to be gluten-free is expected to drive the growth of the market during the forecast period.

Regional Analysis:

Europe to Remain Dominant; High Demand for Sugar-Free Confectionary Products to Promote Growth

Among the regions, Europe is expected to remain at the forefront and register maximum global Sugar Alcohol market revenue during the projected horizon. Additionally, the region registered a high market share of USD 1.23 Billion in 2019 and is further anticipated to rise backed by growing demand for sugar-free confectionary products among the population. Furthermore, fast-paced lifestyle is leading to a growing consumption of processed foods in several countries of Europe that will aid the market growth. North America, on the other, is anticipated to be the second-most leading region in the forthcoming years. This is ascribable to factors such as increasing prevalence of diabetic patients in the U.S. Furthermore, the widespread effects of COVID-19 in the regions is propelling the demand for hand-sanitizers that will boost the demand for the market during the forecast period.

The market in Asia-Pacific is expected to witness substantial growth in the forthcoming years. This is attributable to factors such as presence of large population in the region. Furthermore, high production of polyols in the countries such as China and India will contribute to the market growth.

Competitive Landscape:

Companies Collaborating to Combat COVID-19 to Augur Growth

According to the report, the market comprises of several small, medium, and large companies striving to gain maximum market share by consolidating their position during the forecast period. In addition to this, the companies are collaborating with each other to fight the global pandemic, Covid-19 and mitigate the threat to get back the economy on track. For instance, in March 2020, amid the widespread effect of novel coronavirus that has caused the scarcity of hand sanitizes, Gull New Zealand, a renowned petroleum company, announced that it would provide over 340,000 liters of ethanol along with Sugar Alcohol to manufacture hand disinfectants. This move is expected to fill the void caused due to scarcity of hand sanitizers across several regions that will prove beneficial to fight the pandemic

Browse In-depth Summary of This Research Insight:

https://www.fortunebusinessins....ights.com/sugar-alco

Nutraceuticals Market Segmentation, Demand, Outlook and Forecast by 2028

The global nutraceuticals market is expected to gain momentum by reaching USD 658.11 billion by 2028 while exhibiting a CAGR of 9.3% between 2021 and 2028. Fortune Business Insights in its latest report, titled, “Nutraceuticals Market, 2021-2028.”, mentions that the market stood at USD 320.00 billion in 2020. Factors such as the increasing personalization in nutritional diet and the increasing investment in R&D activities are expected to propel the demand for the product in the forthcoming years.

For instance, in July 2019, General Mills announced its collaboration with GoodBelly to produce and distribute lactose-free yogurts and a probiotic-based cereal to cater to the growing demand from consumers. Therefore, the increasing focus on the personalization of nutrition has propelled companies to introduce healthy food products worldwide.

List of Companies Profiled in the Global Nutraceuticals Market:

Herbalife Nutrition Ltd. (California, United States)
Archer Daniels Midland Company (Illinois, United States)
General Mills (Minnesota, United States)
PepsiCo Inc. (New York, United States)
BASF SE (Mannheim, Germany)
Abbott (Illinois, United States)
Amway (Michigan, United States)
Glanbia Plc. (Ireland)
Danone S.A. (Paris, France)
Nestle S.A. (Vevey, Switzerland)
DRIVING FACTORS

Increasing Investment in Product Development to Favor Growth

In January 2020, Archer Daniels Midland Company announced the acquisition of Yerbalatina Phytoactives, a leading manufacturer of natural plant-based extracts and ingredients. The company with its investment aims to strengthen its position in the market. Similarly, several companies are focusing on investing in R&D activities to develop and introduce health-benefiting food products to cater to the growing demand for nutritious products worldwide. Moreover, the development of natural food products devoid of any harmful substances will boost the global nutraceuticals market growth in the forthcoming years.

REGIONAL INSIGHTS

Asia-Pacific to Remain at Forefront; Demand for Functional Foods to Increase in North America

Among all the regions, Asia-Pacific is expected to remain dominant and hold the highest position in the market during the forecast period. The dominance is attributable to the presence of a large population and the improving living standards in countries such as India, Japan, and South Korea, among others that will boost the demand for nutraceuticals in the region. Moreover, the region stood at USD 124.70 billion in 2020.

The market in North America is expected to hold the second position in the market backed by the increasing demand for plant-based nutritional products and the growing demand for functional food in countries such as the U.S. between 2021 and 2028.

COMPETITIVE LANDSCAPE:

Merger and Acquisition between Major Companies to Brighten their Market Prospects

The global market comprises small, medium, and large companies that are striving to maintain a stronghold. The large companies are focusing to expand their nutraceuticals portfolio by acquiring other small companies. Moreover, other key players are adopting strategies such as facility expansion, partnership, and collaboration to gain a competitive edge over their rivals that will favor the market growth in the forthcoming years.

Key Industry Development:

September 2020 - Nuliv Science introduced a new compound, Senactiv that helps to promote muscle energy and regeneration. The company further reports that the new sports product is manufactured taking into consideration the surging demand for dietary supplements among consumers.

Information Source:

https://www.fortunebusinessins....ights.com/nutraceuti

India Dairy Market Demands, Regional Analysis and Forecast to 2030

The India dairy market size was valued at USD 115.57 billion in 2022. The market is projected to grow from USD 124.93 billion in 2023 to USD 227.53 billion by 2030, exhibiting a CAGR of 8.94% during the forecast period. India is one of the largest exporters of dairy products. Major producers in India are Uttar Pradesh, Maharashtra, Himachal Pradesh, Madhya Pradesh, Rajasthan, Punjab, and Tamil Nadu. Growing demand for functional dairy products is set to propel the India dairy market share. Fortune Business Insights™ shares this information in its report titled “India Dairy Market, 2019-2030.”

Segments:

Owing to Milk Being a Part of Diet of Millions of People, Milk Segment is Set to Lead

According to type, the market is segmented into milk, cheese, butter, dairy desserts, milk powder, curd & yogurt, cream, and others. Milk held the largest part in the segment as it is an essential part of the diet of billions of people. Rising popularity for natural and farm-sourced milk is likely to increase the demand for milk at a higher pace in India. Thus, due to the popularity of dairy in India, there has been constant efforts taken by dairy entrepreneurs/startups to develop attractive and indulgent flavors to entice consumers.

With Increasing Number of Convenience Stores, Others Segment to Lead

According to distribution channel, the market is divided into supermarkets/hypermarkets, specialty retailers, online retail stores, and others. The others segment includes local milk vendors and convenience stores. It is set to dominate due to increasing number of convenience stores across the country and easy availability of dairy products, such as milk, curd, and paneer, at such stores. Specialty retailers are also growing in developing and developed countries due to advantages such as product expertise, customer experience, and wide variety of higher-quality products.

Drivers and Restraints

Significant Production of Milk in India to Propel Market Growth

Significant production of milk in the country is projected to drive the India dairy market growth. The dairy industry has been one of the dynamic sectors in the Indian agricultural industry and has witnessed phenomenal growth in its production and consumption. High availability of milk in the country boosts the production of value-added or processed products such as cheese, butter, curd, yogurt, ghee, and paneer. In addition, milk has a strong demand in Indian households, which drives market growth. The industry in India helps the country in its socioeconomic development.

However, lack of supply of fodder and emergence of various diseases in cattle are expected to hamper the market expansion.

Competitive Landscape

Prospects of New Key Players to Create Competitive Advantage

With expanding consumption of liquid milk and milk products, the demand for milk has been increasing in the country. Prominent players are expanding their businesses by establishing numerous manufacturing facilities, opening their outlets in different markets, and launching new products. In September 2020, Tata entered into the milk category under its brand Tata NQ and launched skimmed milk powder in a pack of 25kg for institutional customers.

Key Industry Development

October 2022: Punjab State Cooperative Milk Producers Federation Ltd (MILKFED) launched the Verka milk and milk products brand in Delhi. The aim of this launch was to offer dairy farmers with maximum support and good prices to these farmers.
List of Key Players Profiled in the Report

Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF) (India)
Heritage Foods Limited (India)
Karnataka Cooperative Milk Producers Federation Limited (India)
Kwality Milk Foods Ltd (India)
Milk food Limited (India)
National Dairy Development Board (India)
Parag Milk Foods (India)
Punjab State Cooperative Milk Producers Federation Ltd (MILKFED) (India)
Rajasthan Cooperative Dairy Federation Ltd (RCDF) (India)
Tamil Nadu Cooperative Milk Producers Federation Ltd (TCMPF) (India)
Browse In-depth Summary of This Research Insight:

https://www.fortunebusinessins....ights.com/india-dair

Halal Food and Beverages Market Size, Share, Key Players Profiles, Trends and Forecast by 2023-2028

The global halal food and beverages market size was USD 1.96 trillion in 2020. The market is projected to grow from USD 2.09 trillion in 2021 to USD 3.27 trillion by 2028, exhibiting a CAGR of 6.56% during the forecast period of 2021-2028.

Fortune Business Insights™ provides this information in its report, titled, “Halal Food and Beverages Market, 2021-2028.” According to our researchers, the growing Islamic population across the globe coupled with the rising consumer worries concerning food safety, superiority, and animal brutality have substantially upsurged the demand for halal food & beverages. Moreover, the constantly extending distribution network and the assessment in customer buying configurations are projected to further power the global market in the forthcoming years.

Segmentation

By Product, the global market is segregated into meat, poultry & seafood, dairy products, cereal & grain-based products, non-dairy beverages, fruits, vegetables & nuts. By distribution channel, the market is divided into traditional retailers, supermarkets/hypermarkets, online retail, and others. Geographically, the market is classified into North America, Europe, Asia Pacific, South America, and the Middle East & Africa

Drivers and Restraints

Increasing Islamic Population & Moving Customer Responsiveness to Fuel Market Growth

Islam is the quickest-growing religion globally, which affirmatively impacts the global demand for halal food & beverage products. As per the latest record declared by the Government of Saudi Arabia, the global Muslim population signifies about 28.26% of the total world population.

Additionally, the rising consciousness among the Muslim population concerning the requirement and inevitability to ingest only halal food predominantly powers the growth of the global market. Moreover, the growing dispensable revenue levels of the Islamic population are further anticipated to thrust the market growth during the upcoming years.

Regional Insights

Asia Pacific held the maximum halal food and beverages market share and was valued USD 1.20 trillion in 2020. The largest Islamic population is focused in the Asia Pacific region as the four biggest nations in terms of the Muslim population are situated on this continent, comprising India, Indonesia, Pakistan, and Bangladesh.

The Middle East and Africa have huge latent for the market growth as the customers in this region are principally Muslim with increasing per capita revenues.

Europe is observing significant growth in the market. Surging flexible incomes coupled with a rising Muslim population is estimated to elevate the demand for halal products.

Competitive Landscape

The major players such as Cargill, Inc., Nestle S.A., and Unilever are fixated on novel product improvements, collaborations, and procurements to associate the market. The advent of small-scale companies in this market expressively donates to the competition occurring within the market, which has an optmistic influence on the market's growth.

Browse In-depth Summary of This Research Insight:

https://www.fortunebusinessins....ights.com/halal-food