Hazelnut Market size was valued at USD 10.06 Bn. in 2022 and the total Hazelnut revenue is expected to grow at 8.7 % through 2023 to 2029, reaching nearly USD 18.04 Bn.
What is Hazelnut Market scope?
The Hazelnut market is diverse, encompassing a variety of applications across multiple industries. Segmented by type, form, application, distribution channel, and region, the market includes significant sectors such as food and beverages, cosmetics and personal care, pharmaceuticals, and dietary supplements. Hazelnuts are a crucial ingredient in the confectionery industry, particularly in the production of chocolate products, with approximately 80% of global production used for this purpose.
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The market is characterized by a high demand for hazelnuts in various forms, including whole, chopped, and ground, catering to different product applications. The scope of the market extends globally, with major production and consumption occurring in regions such as Europe, North America, and Asia-Pacific.
Hazelnut Market Trends:
One of the notable trends in the Hazelnut market is the increasing incorporation of hazelnuts into confectionery products, driven by consumer preferences for innovative and flavorful ingredients. Chocolate manufacturers are expanding their product lines to include hazelnut-infused options, such as spreads and confectionery treats, reflecting a broader trend towards premium and unique flavors. Additionally, the rise in health consciousness among consumers is influencing the demand for hazelnuts due to their nutritional benefits, including their high content of omega-3 fatty acids and heart-healthy properties. This trend is fueling the growth of hazelnuts in various product categories, including bakery items and dietary supplements.
What are Hazelnut Market Dynamics?
The Hazelnut market is influenced by several key dynamics. The increasing demand from the confectionery industry is a major driver, as hazelnuts are predominantly used in chocolate and sweet products. This demand is further supported by the popularity of hazelnut spreads, such as Nutella, which have become common in households, particularly in Europe. Additionally, the expanding applications of hazelnuts in health and wellness products, driven by their nutritional benefits, are contributing to market growth. However, challenges such as fluctuations in supply and high production costs can impact the market. Despite these challenges, the market is expected to grow due to ongoing innovation in product offerings and rising consumer interest in health-oriented and flavorful products.
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How is the Turkey Hazelnut Market Expected to grow?
In 2022, Turkey will produce more than 70% of the world’s hazelnuts and export 80% of them. For many farmers in the Black Sea Region, hazelnuts represent a sizable source of income. On 560,000 hectares, almost 400,000 farmers grow hazelnuts in Turkey, producing 600,000 tonnes of hazelnuts by 2022. The output and planting areas of hazelnuts appear to be rising based on current trends. Turkey is not as productive as the other major producers when it comes to hazelnuts. The hazelnut market in Turkey has been allowed to flourish unhindered in recent years by the lack of government intervention. This deregulation has led to a decline in hazelnut prices on both domestic and foreign markets. In contrast, Turkey’s domestic consumption is quite low.
What is the expected growth of Hazelnut Market by Type segmentation?
In terms of market share by kind, the hazelnut flour category was leading in 2022. Roasted hazelnuts are used to make hazelnut flour. A lot of businesses sell finely ground hazelnut powder, which is high in protein and flavor, along with hazelnut flour. Smoothies, cereals, and pastries free of gluten can benefit from its rich nut flavor and delicate texture.
Because hazelnut oil is being used more often in cooking and salad dressings, this market is predicted to develop at the fastest rate of growth throughout the projected period. It’s also frequently used in aromatherapy and massage oils, as well as hair and skin care products.
What is Hazelnut Market Segmentation?
by Type
Whole Hazelnut
Hazelnut Paste
Hazelnut Flour
Hazelnut Oil
by Form
Roasted
Unroasted
by Application
Personal Care & Cosmetics
Pharmaceutical Industry
Food & Beverages
Others
by Distribution Channel
Online
Offline
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What are the key Players for Hazelnut Market?
1. Olam International
2. Arslanturk S.A.
3. Karimex Nuts
4. Holmquist Hazelnut Orchards, LLC
5. DurakFindik
6.DeveHerbes
7. Azerstar LLC
8. American Hazelnut Company
9. Hazelz New Zealand
10. Northwest Hazelnut Company
11. Hazelnut Company Divison, Ferrero
12. ADM
13. Karin Gıda
14. BALSU
15. Poyraz Poyraz
16. Fındık Entegre San. Tic. A.Ş.
17. URAK FINDIK Ferrero
18. Kanegrade Ltd.
19. GPR
20. Nuts L
Key Offerings:
- Past Market Size and Competitive Landscape
- Hazelnut Market Size, Share, Size & Forecast by different segment
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Hazelnut Market Segmentation – A detailed analysis by Product
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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