The main purpose of this paper is to prove Hormanders $L^p$-$L^q$ boundedness of Fourier multipliers on commutative hypergroups. We carry out this objective by establishing Paley inequality and Hausdorff-Young-Paley inequality for commutative hypergroups. We show the $L^p$-$L^q$ boundedness of the spectral multipliers for the generalised radial Laplacian by examining our results on Ch{e}bli-Trim`{e}che hypergroups. As a consequence, we obtain embedding theorems and time asymptotics for the $L^p$-$L^q$ norms of the heat kernel for generalised radial Laplacian. Finally, we present applications of the obtained results to study the well-posedness of nonlinear partial differential equations.