Hazelnut Market: Global Industry Analysis and Forecast (2023-2029)

Hazelnut Market size was valued at US$ 10.06 Bn. in 2022 and the total Hazelnut revenue is expected to grow at 8.7 % through 2023 to 2029, reaching nearly US$ 18.04 Bn.
Hazelnut Market Overview:
Hazelnut is a type of nut which contains oil, protein, and fiber. It is a source of omega-3 fatty acids that have several heart-healthy benefits and it will reduce the risk of cardiovascular disease. Rising awareness about various health benefits offered by hazelnut and wide usage of hazelnut in food&beverage, cosmetic & personal care, pharmaceutical, and dietary supplements industries are expected to grow the Hazelnut market over the forecast period. Furthermore, Hazelnuts are consumed all over the world for making dairy, bakery, candy, and chocolate products. Approx 80% of the world's hazelnut production is used in the chocolate sector, 15% in making cake, biscuits & sweets, and 5% in marketing as appetizers.To know about the Research Methodology :- Request Free Sample Report

Hazelnut Market Report Scope:

The Hazelnut market is segmented based on Type, Form, Application, Distribution Channel, and Region. The growth amongst these segments will help our clients to analyze the industries and provide the users with a valuable market overview and market insights to make strategic decisions for identifying core market applications. The research study provides an in-depth analysis of the market and contains meaningful insights, facts, historical data, and statistically supported and industry-validated market statistics. It also includes estimates based on an appropriate set of assumptions and methodologies.

Our research analyst has used bottom-up approaches to estimate the Hazelnut market size. Major Key Players in the Hazelnut market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research involved a study of the top manufacturers' annual and financial reports, while primary research was done through interviews with company key persons and industry professionals such as experienced front-line staff, CEOs, and marketing executives. The study gives insight into the growth dynamics of the Hazelnut market in regions such as the Middle East and Africa, Asia Pacific, Europe, North America, and Latin America.

Ferrero is the leading key player in the global Hazelnut technology market. 25% of the world’s supply of hazelnuts goes into making FERRERO products which makes them the largest user of hazelnuts in the world. They are providing Hazelnuts for hotels. They are continuously strategizing on mergers & acquisitions for the expansion of their market share and growth opportunities during the forecast period.
Hazelnut Market Dynamics:
Increasing demand from the confectionary Industry.

The sales of Hazelnut are expected to grow owing to the increasing use of chocolates in the confectionary Industry. 90% of hazelnuts consumed are utilized in confectionary as a side ingredient in chocolate, cookies, and sweets. Chocolate manufacturers are introducing signature brands with hazelnut-infused product lines, which are emerging as a flavor innovation in the global confectionery market. Chocolate hazelnut spreads, similar to peanut butter, are becoming increasingly popular. A rising number of food companies have started to make their versions of this spread, which is currently available in the majority of supermarkets. Chocolate hazelnut products are becoming increasingly popular. In 2020, the popular hazelnut spread Nutella is a common post-school snack for children, especially in Europe, This spread can be applied over slices of bread.

Furthermore, hazelnut introduces a new flavor to the usual chocolate products and is used to make toppings on ice creams. Millennial consumers love to try new flavors of chocolates and hazelnut is a versatile ingredient that can be applied to sweet and savory dishes. In Indonesia, the chocolate-hazelnut combination gained popularity when incorporated into dishes such as martabak and toast.



Health benefits associated with Hazelnut

Hazelnuts found in chocolate, coffee, and spreads are beneficial to the skin, hair, and overall health. Hazelnuts are one of the healthiest nuts because they are high in vitamin E. According to studies, eating hazelnuts on a daily basis can help reduce the risk of cardiovascular disease. They also lower cholesterol levels in the body, which improves heart health by lowering the risk of a heart attack. Hazelnuts are also high in oleic acid, which is beneficial to heart health. According to the American Institute of Cancer Research, eating hazelnuts daily reduces the risk of colon cancer in women because the phytochemicals in hazelnuts improve cell survival. Several people are eating hazelnuts to lose weight. Thus, the increasing use of hazelnuts in the treatment of various health conditions is expected to fuel significant sales possibilities in the global hazelnut market.

Hazelnut oil is used for cosmetics and personal care products

Hazelnut oil is prepared from both roasted and cold pressed hazelnuts. Hazelnut oil functions as a skin-conditioning agent when used in cosmetics and personal care products. Most importantly, hazelnut oil is used in aromatherapy to treat and nourish the skin with the important vitamins and nourishment that Hazelnut oil provides. This oil can also be used in conjunction with creams and lotions. Whatever the skin type, hazelnut oil may always be used with the utmost care. Hazelnut oil is an excellent hair care product for dealing with dry and damaged hair as well as protecting it from the damaging effects of the sun. Hazelnut oil is used to regrow hair and add smoothness and shine to the hair. Therefore, the increasing use of Hazelnut oil for making cosmetics and personal care products is expected to fuel the market during the forecast period.

However, the impact of high prices on consumption may hamper the global hazelnut market's growth. However, the global market benefits from the untapped market potential of hazelnut oil as an infant nutrition product.
Hazelnut Market Segment Analysis:
By Type, the Hazelnut flour segment held a significant market share in 2022. Hazelnut flour is made from roasted hazelnuts. Many companies offer Hazelnut flour with fine hazelnut powder which is rich in protein and flavor. Its intense nut taste and fine texture are applied to gluten-free pastries, cereals, and smoothies.

The hazelnut oil segment is expected to grow at the highest CAGR during the forecast period owing to its increased use for cooking and salad dressings. It's also widely used for hair care, skin care product, and aromatherapy or massage oils.

By Form, the Roasted Hazelnuts are perfect for snacking on or topping dishes. The main purpose of roasted hazelnuts is to improve the desirable flavor, color, crispness, and crunchy texture of the product. They also added taste to homemade muesli or granola. Roasted hazelnuts without the skin are powdered in a grinder or commercial miller to make powder. These Roasted Hazelnuts powder are typically used to make dressings and butter.

By Application, the food & beverage manufacturers are using around 90% of hazelnuts in the food industry in a roasted, whitened, minced, sliced, powder, and puree form. They are using hazelnuts as a side ingredient for making chocolate, biscuit, sweets, pastries, and ice cream.

In the pharmaceutical sector, hazelnuts are used in making cough syrups and ointments, and in the cosmetics industry owing to the high levels of fiber, vitamins, and moderate proteins present in hazelnuts.


Hazelnuts Market Regional Insights
Turkey accounts for over 70% of global hazelnut production and 80% of global hazelnut exports in 2022. Hazelnuts are a significant source of revenue for many Black Sea Region farmers. Around 400,000 farmers produce hazelnuts on 560,000 hectares in Turkey, generating around 600,000 tonnes of hazelnuts in 2022. Current trends indicate that hazelnut planting areas and production are increasing. Turkey's hazelnut productivity is lower than that of the other major producers. The Turkish government has not intervened in the hazelnut market in recent years allowing it to run freely. As a result of this liberalization, hazelnut prices on both local and international markets have decreased. Domestic consumption in Turkey, on the other hand, is incredibly low.

In the Asia Pacific region, the increasing demand for hazelnuts in wide industrial applications is accelerating the use of hazelnut products which drives the market growth during the forecast period.



The objective of the report is to present a comprehensive analysis of the Hazelnuts market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Hazelnut market dynamics, and structure by analyzing the market segments and projecting the Hazelnut market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Hazelnut market make the report investor’s guide.
Hazelnuts Market Scope: Inquire before buying



Global Hazelnuts Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 10.06 Bn.


Forecast Period 2023 to 2029 CAGR:
8.7 %
Market Size in 2029:
US $ 18.04 Bn.


 Segments Covered:
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



Hazelnut Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Hazelnuts Market, Key Players are
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
21. Gürsoy Tarımsal Ürünler Gıda San
22. Boxon food
23. Fruits of Turkey
24. BATA FOOD
25. Aydın Kuruyemiş Sanayii ve Ticaret A.Ş.
26. Özgün Gıda Sanayi ve Ticaret Limited şirketi

FAQs:

1. Which is the potential market for Hazelnut in terms of the region?
Ans. In the Asia Pacific region, the increasing demand for hazelnuts in wide industrial applications is accelerating the use of hazelnut products which drives the market growth during the forecast period.

2. What is expected to drive the growth of the Hazelnut market in the forecast period?
Ans. Increasing demand from the confectionary Industry is a key driver of the Hazelnut market during the forecast period.

3. What is the projected market size & growth rate of the Hazelnut Market?
Ans. The Hazelnut Market size was valued at US$ 10.06 Bn. in 2022 and the total Hazelnut revenue is expected to grow at 8.7 % through 2023 to 2029, reaching nearly US$ 18.04 Bn.

4. What segments are covered in the Hazelnut Market report?
Ans. The segments covered are Type, Form, Application, Distribution Channel, and Region.