PUBLISHER: The Business Research Company | PRODUCT CODE: 1605612
PUBLISHER: The Business Research Company | PRODUCT CODE: 1605612
A hazelnut is the edible seed of the hazel tree, scientifically known as Corylus avellana. This round nut has a hard outer shell and a rich, mildly sweet flavor. It is commonly used in various culinary applications, including desserts, snacks, and oils. Hazelnuts are also rich in healthy fats, vitamins, and antioxidants, making them appealing to those who focus on nutritious eating.
The main types of hazelnuts include whole hazelnuts, hazelnut oil, hazelnut flour, hazelnut paste, and others. Whole hazelnuts can be enjoyed raw or roasted. They are available in both roasted and unroasted forms, with distribution channels including online and offline options. Hazelnuts are utilized in a range of applications, such as personal care and cosmetics, the pharmaceutical industry, and food and beverages, among others.
The hazelnut market research report is one of a series of new reports from The Business Research Company that provides hazelnut market statistics, including hazelnut industry global market size, regional shares, competitors with a hazelnut market share, detailed hazelnut market segments, market trends and opportunities, and any further data you may need to thrive in the hazelnut industry. This hazelnut market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The hazelnut market size has grown strongly in recent years. It will grow from $13.89 billion in 2023 to $15.11 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth during the historic period can be attributed to the increasing focus on health, the expansion of the snack food sector, the growth of hazelnut cultivation, rising demand for hazelnuts, and shifts in consumer preferences towards plant-based diets.
The hazelnut market size is expected to see strong growth in the next few years. It will grow to $21.23 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth during the forecast period can be attributed to the increasing awareness of sustainable and organic farming practices, the expansion of e-commerce, climate change adaptation strategies, the growth of online grocery shopping, and the rising use of hazelnuts. Key trends expected in this period include advancements in plant-based products, improvements in hazelnut processing, innovations in sustainable and organic farming practices, and the development of hazelnut-based beverages.
The increasing popularity of plant-based diets is anticipated to drive the growth of the hazelnut market in the future. A plant-based diet emphasizes foods derived from plants, including fruits, vegetables, grains, legumes, nuts, and seeds. Factors contributing to the rise of plant-based diets include greater awareness of health benefits, concerns regarding climate change and animal welfare, as well as the availability of a diverse range of plant-based products. Hazelnuts are rich in antioxidants, healthy fats, and essential nutrients, which may help reduce oxidative stress and inflammation, thereby supporting brain health in individuals with Parkinson's disease. For example, the Plant Based Foods Association (PBFA), a US organization, reported in April 2023 that sales of plant-based foods grew by 6.6% in 2022, up from 5.9% in 2021. Additionally, 70% of the U.S. population was consuming plant-based foods, an increase from 66% the previous year. Thus, the rising popularity of plant-based diets is propelling the growth of the hazelnut market.
Key players in the hazelnut market are focusing on creating innovative products, such as unique snacks and spreads, to enhance flavor profiles, improve nutritional content, and meet evolving consumer preferences for healthier and more sustainable options. Snacks and spreads are convenient food items designed for quick consumption, with snacks being bite-sized treats and spreads serving as flavorful products that can be applied to other foods. For instance, in October 2023, Otto's Nuts, a US-based gourmet snack company, launched a line of Turkish coffee and cocoa-coated hazelnut snacks along with innovative spreads. This product range features various flavors that blend the delightful taste of hazelnuts with popular beverages, catering to consumers in search of unique flavor experiences. The aim of this product line is to achieve an ideal balance of sweetness and crunch while highlighting the nutritional benefits of hazelnuts, which include healthy fats, fiber, and protein.
In July 2024, Refresco B.V., a Netherlands-based food and beverage company, acquired Frias Nutricion S.A.U. for an undisclosed sum. This acquisition strengthens Refresco's presence in Spain by adding a plant-based facility, enhances its service offerings to retailers across Europe, accelerates innovation in plant-based beverages, and positions the company to capitalize on market opportunities. Frias Nutricion S.A.U. is a Spanish food and beverage company that specializes in producing plant-based drinks, including almond, rice, hazelnut, and soy beverages.
Major companies operating in the hazelnut market are Cargill Inc., Nestle S.A., Ferrero International S.A., Barry Callebaut AG, J.M. Smucker Company, McCormick and Co. Inc., Hain Celestial Group Inc., Diamond Foods LLC, Nutiva Inc., Tropicana Products Inc., Weber Flavors, GEONUTS, Amedei Toscana, Chelmer Foods Ltd., Baker's Choice, Azerstar LLC, Northwest Hazelnut Company, Hazelnut Growers of Oregon Inc., Hazelz New Zealand, Apex Flavors Inc., Pascha Chocolate, Arslanturk S.A., Boxon Food, BATA FOOD Inc.
Europe was the largest region in the hazelnut market in 2023 and it is expected to be the fastest-growing region in the forecast period. The regions covered in the hazelnut market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the hazelnut market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The hazelnut market consists of sales of nuts, roasted nuts, hazelnut spreads, oils, and flour. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Hazelnut Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on hazelnut market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for hazelnut ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hazelnut market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.