Market Overview:
The Hazelnut Market was estimated at USD 6.72 Billion in 2021, and is projected to reach USD 8.49 Billion by 2028, growing at a CAGR of 3.4% over the analysis period.
Hazelnuts are nuts obtained from the hazelnut tree and can be found whole, raw, ground, sliced or roasted. Hazelnuts are primarily used as a snack or added to baked goods. According to the International Council on Nuts and Dried Fruits, hazelnut production has shown a high growth of 21% in 2021 and is expected to rise between 1% to 5% in the coming years. Hazelnuts add flavor and flavor to chocolate truffles and are ground into flour for biscuits and cakes. Moreover, when compared to peanut butter, mainly hazelnut chocolate is used, and several versions of this spread are available in supermarkets. Hazelnuts are also used as an ingredient in desserts such as chocolate, breakfast cereals, nougat cookies, chopped nuts, candy, spreads, and processed formulas.
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Market Dynamics:
Driver:
Combined with the rapid growth of the chocolate industry, the increasing consumer demand for delicious and nutritious chocolates and chocolate beans has proven to be a boon to the growing hazelnut market. This rapidly growing demand encourages chocolate manufacturers to invent and introduce new chocolate products with the addition of hazelnuts. Chocolate and hazelnut spreads are gaining popularity among health-conscious consumers along with peanut butter, fueling the growth of the hazelnut market. Moreover, chocolate and hazelnut spreads are essential in improving fertility, increasing metabolic rate, lowering cholesterol, losing weight, digestion, and motivating chocolate manufacturers to use them in appropriate amounts in their products.
Opportunities:
The demand for hazelnuts is expected to increase rapidly among various end-use industries. The increase in urbanization and disposable income has led to a rapid rise in market growth for premium products and has also provided a lucrative opportunity for hazelnut products to grow at a faster rate, particularly in the North American and European region. Consumers in the region are willing to pay premium prices for products with exotic ingredients including frozen products and sweets. The trend towards hazelnut chocolate, cakes, biscuits, pastries, pralines and ice cream is also expected to grow rapidly in South Asian regions.
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Segmentation Analysis Of Hazelnut Market:
By Type:
The processed hazelnut segment dominates the hazelnut market. Processed hazelnuts are easily accessible to the consumers, processed to suit different consumer preferences and tastes, and are available in many forms.
By Application:
The food & beverages segment dominates the global hazelnut market. The rapid growth is attributed to the rising hazelnut usage in chocolates, ice-creams, cakes, spreads, creams, and bars. Also, owing to the innovative and attractive product range offered by food & beverage manufacturers fuels the segment growth.
By Distribution channel:
The offline segment dominates the hazelnut market growth. Both the inshell and kernel-based hazelnuts are available on a large scale in various supermarkets and hypermarkets propels the market growth.
By Type:
- Processed Hazelnuts
- Unprocessed Hazelnuts
By Application:
- Hazelnut-based Foods & Beverages
- Hazelnut Oil
- Pharmaceutical
- Cosmetics
By Distribution Channel:
- Online
- Offline
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Regional Analysis Of Hazelnut Market:
The Middle East and Africa is the major dominating region for the hazelnut market. Turkey is the largest producer of Hazelnuts and it accounts for around 70% of the world’s hazelnut supply owing to the rising demand from the millennials and urban population as well as the favorable climatic conditions in this region.
By Region:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of SA)
Top Key Players Covered In Hazelnut Market:
- Balsu Gida (Turkey)
- Chelmer Foods (North Essex)
- Kane grade (U.K)
- Olam International (Singapore)
- Oregon Hazelnuts (U.S.)
- Aydin Kuruyemis (Istanbul)
- GEONUTS (Georgia)
- Poyraz Tarimsal (Istanbul)
- Barry Callebaut AG (Switzerland)
- Arslantürk (Turkey)
- Karimex (Brazil)
- Gursoy Tarimsal Urunler Gida (Turkey)
- Fruits of Turkey (Turkey)
- BATA Food (Turkey)
- Durak Findik (Turkey), and other major players.
Key Industry Development In The Hazelnut Market:
- In July 2021, the Italian food brand Fabulous declared the launch of a line of organic hazelnut and cocoa spreads that are created with a combination of hazelnuts, chickpea, and cocoa. The original Hazelnut Cocoa product further will be followed by the launch of the Savoury Orange Hazelnut as well as Crunchy Hazelnut flavors.
- In April, 2021, Hazelnut Growers of Oregon (HGO) and its parent company Wilco happily announced that they are seeking a partner with a track record of building great brands to further form a joint venture to grow HGO’s retail hazelnut consumer product business.
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Covid-19 Impact Analysis On Hazelnut Market:
The COVID-19 pandemic has had a strong impact on many agricultural and food industries. However, due to the sudden appearance of the virus, the population all over the world began to choose healthy and safe food products, which has boosted the development of the hazelnut market in the post-Covid era. Moreover, with the impact of COVID-19, there has been a trend towards fruits, nuts, etc., which has resulted in increased sales of hazelnut products. Hazelnut market is rapidly reaching pre-COVID levels and expects a steady growth rate in the coming years, supported by the economic recovery in developing nations. However, unprecedented things due to more virus waves are expected to slow production.
Table Of Content:
Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2: Executive Summary
Chapter 3: Growth Opportunities By Segment
3.1 By Type
3.2 By Application
3.3 By Distribution Channel
Chapter 4: Market Landscape
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Supplier
4.1.2 Threat of New Entrants
4.1.3 Threat of Substitutes
4.1.4 Competitive Rivalry
4.1.5 Bargaining Power Among Buyers
4.2 Industry Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.5.4 Challenges
4.4 Pestle Analysis
4.5 Technological Roadmap
4.6 Regulatory Landscape
4.7 SWOT Analysis
4.8 Price Trend Analysis
4.9 Patent Analysis
4.10 Analysis of the Impact of Covid-19
4.10.1 Impact on the Overall Market
4.10.2 Impact on the Supply Chain
4.10.3 Impact on the Key Manufacturers
4.10.4 Impact on the Pricing
Chapter 5: Hazelnut Market by Type
To Be Continue….
Reasons To Buy The Report:
- To identify the main subsegments of the Hazelnut market to comprehend its structure.
- Identifies describes, and analyses the sales volume, value, market share, competitive market landscape, opportunities and threats, and strategic initiatives for the main worldwide Hazelnut manufacturers for the next few years.
- To examine the Hazelnut in terms of specific expected growth, career outlook, and market share contribution.
- Analyze commercial developments in the market, such as market expansions, partnerships, new product development, and mergers.
- To develop a strategic analysis of the main players and a thorough analysis of their strategic planning.
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