PUBLISHER: The Business Research Company | PRODUCT CODE: 1605613
PUBLISHER: The Business Research Company | PRODUCT CODE: 1605613
Hazelnut oil is a vegetable oil extracted from hazelnuts (Corylus avellana) and is renowned for its rich, nutty flavor. It is commonly used in cooking, particularly in salad dressings and marinades, and as a finishing oil for various dishes. Additionally, hazelnut oil is valued for its high content of monounsaturated fats, similar to olive oil, making it a healthier choice for heart health.
The main types of hazelnut oil include cold-pressed hazelnut oil, refined hazelnut oil, unrefined or virgin hazelnut oil, flavored hazelnut oil, and others. Cold-pressed hazelnut oil is produced by mechanically pressing hazelnuts without applying heat or chemicals, which helps retain the oil's natural nutrients and antioxidants, resulting in a high-quality product rich in vitamins and healthy fats. Distribution channels for hazelnut oil include supermarkets and hypermarkets, specialty stores, online retail, foodservice and hospitality, among others. Its applications span culinary uses, cosmetics and skincare, aromatherapy, nutraceuticals, and more.
The hazelnut oil market research report is one of a series of new reports from the business research company that provides hazelnut oil market statistics, including hazelnut oil industry global market size, regional shares, competitors with an hazelnut oil market share, detailed hazelnut oil market segments, market trends and opportunities, and any further data you may need to thrive in the hazelnut oil industry. This hazelnut oil 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 oil market size has grown strongly in recent years. It will grow from $9.69 billion in 2023 to $10.57 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth observed during the historical period can be attributed to several factors, including increasing consumer awareness of health benefits, a rising demand for natural ingredients, the expansion of the cosmetics industry, the growth of e-commerce platforms, and heightened demand in emerging markets.
The hazelnut oil market size is expected to see strong growth in the next few years. It will grow to $15.11 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The anticipated growth during the forecast period can be attributed to several factors, including partnerships between farmers and producers, growing awareness of heart health, increased adoption of pharmaceuticals, the globalization of food cultures, and the rising popularity of the Mediterranean diet. Key trends expected in this period include new product launches, technological advancements, health and wellness trends, global market expansion, and innovations within the food industry.
The increasing demand for organic cosmetics is anticipated to drive the growth of the hazelnut oil market in the future. Organic cosmetics are beauty and personal care products made with natural ingredients that are certified organic, meaning they are free from synthetic chemicals, pesticides, and genetically modified organisms (GMOs), adhering to specific organic standards. This rising demand stems from heightened consumer awareness regarding the health and environmental benefits of natural ingredients, a growing preference for sustainable and chemical-free options, and rising concerns over the harmful impacts of synthetic chemicals in traditional skincare products. Hazelnut oil is valued in organic cosmetics for its moisturizing properties, its ability to improve skin elasticity, and its natural astringent qualities that help regulate oil production. For instance, a March 2024 report from the Soil Association, a UK-based membership charity focused on the environmental effects of agriculture, indicated that the UK organic beauty and wellbeing market reached a value of £147.6 million ($191.88 million) in 2022, an increase from £138.2 million ($186.57 million) in 2021. Thus, the demand for organic cosmetics is propelling the growth of the hazelnut oil market.
The rising demand for dietary supplements is also expected to contribute to the growth of the hazelnut oil market in the future. Dietary supplements are products designed to enhance diets by providing essential nutrients, vitamins, minerals, herbs, or other beneficial compounds that support overall health and wellness. Increased awareness of health and wellness has encouraged consumers to adopt dietary supplements for improved health and disease prevention. Moreover, the rise of online shopping has made these products more accessible, facilitating research and purchases. Hazelnut oil is incorporated into dietary supplements due to its favorable fatty acid profile, rich antioxidant content, and potential benefits for heart health, skin hydration, and overall wellness. For instance, an October 2023 survey of 3,192 adults conducted by the Council for Responsible Nutrition, a U.S.-based trade association for the dietary supplement and functional food industry, revealed that approximately 74% of U.S. adults are using dietary supplements. Confidence in the quality of sports nutrition supplements has increased by five percentage points to 66% compared to 2022, while confidence in the weight management category rose by four percentage points to 56% during the same timeframe. Consequently, the growing demand for dietary supplements is set to drive the hazelnut oil market.
Leading companies in the hazelnut oil market are focusing on creating personalized beauty solutions, such as customization services, to enhance consumer experiences. Customization services in the cosmetics sector allow customers to create personalized beauty products, particularly tailored lip oils, by selecting from a variety of pigments and formulations to meet their specific needs and preferences. For example, in May 2024, Clarins, a France-based cosmetics and skincare company, introduced a new customization service called the Lip Oil Factory. This service enables customers to create custom shades of Lip Comfort Oil using a specialized machine that provides seven pigment options. By selecting unique ratios of at least two pigments, customers can achieve one of 64 possible combinations in the Lip Comfort Oil formula, which is enriched with 93% natural ingredients, including a blend of rosehip, organic jojoba, and hazelnut oils that nourish the skin and bolster its natural defenses against external aggressors.
Major companies operating in the hazelnut oil market are Gursoy A.S., Roland Foods LLC, Mountain Rose Herbs Inc., La Tourangelle Inc., Jedwards International Inc., LorAnn Oils LLC, Edens Garden Inc., Base Formula Limited, Georgian Hazelnut Corporation LLC, Bioplanete GmbH, Caloy Company Inc., NHR Organic Oils LLC, Arslanturk Agricultural Products, Poyraz Hazelnut Integrated Industry and Trade Inc., Gustav Heess, SULU ORGANICS LLC, Boxon Food AB, Aromex Industry Inc., DeveHerbes, Botanical Formulations Inc., A L'Olivier
Europe was the largest region in the hazelnut oil market in 2023. The regions covered in the hazelnut oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the hazelnut oil market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The hazelnut oil market consists of roasted hazelnut oil, hazelnut oil for cosmetics, and hazelnut oil capsules. 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 Oil 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 oil 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 oil ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hazelnut oil 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.