In this article we study the Fourier space of a general hypergroup and its multipliers. The main result of this paper characterizes commutative hypergroups whose Fourier space forms a Banach algebra under pointwise product with an equivalent norm. Among those hypergroups whose Fourier space forms a Banach algebra, we identify a subclass for which the Gelfand spectrum of the Fourier algebra is equal to the underlying hypergroup. This subclass includes for instance, Jacobi hypergroups, Bessel-Kingman hypergroups.
