The global hazelnut market is versatile and multifaceted, finding extensive applications across industries. Its forms, from powdered to minced, cater to the diverse needs of the food, beverage, oil, and cosmetics sectors. As a flavoring agent, hazelnuts enhance confectioneries, bakery goods, and meals. Moreover, their skincare properties fuel their incorporation into various cosmetics such as lotions, oils, and soaps. With increasing consumer emphasis on natural ingredients and nutritional benefits, the hazelnut market experiences consistent growth, driven by its widespread adoption and adaptability across a wide range of products.
According to Data Bridge Market Research, the Global Hazelnut Market was valued at USD 14,944.61 million in 2021 and is expected to reach the value of USD 29,343.76 million by 2029, at a CAGR of 8.8% during the forecast period of 2022 to 2029.
“Rising health awareness among the general population facilitates market growth”
The rising health awareness among the general population is a significant driver of the Hazelnut Market. As consumers increasingly prioritize their well-being, they are seeking nutritious and wholesome food options. Hazelnuts, rich in essential nutrients like vitamin, minerals, and healthy fats, align with this trend. The growing awareness of hazelnuts' health benefits, including heart health, antioxidant properties, and support for brain function, has led to higher demand. This health-conscious shift in consumer preferences is propelling the hazelnut market's growth as people incorporate these nutritious nuts into their diets for a healthier lifestyle.
What restraints the growth of the global hazelnut market?
“Fluctuations in raw material prices”
Fluctuations in raw material prices stand as a significant restraint in the global hazelnut market. Hazelnut production is susceptible to various factors, such as weather conditions and crop yields, which can lead to inconsistent supply levels. These fluctuations contribute to volatile hazelnut prices, impacting production costs and profitability for both growers and manufacturers. Unpredictable raw material costs pose challenges in pricing strategies, supply chain management, and overall market stability. The hazelnut market's vulnerability to such price variations creates uncertainty and can hinder sustained growth and market expansion.
Segmentation: Global Hazelnut Market
The hazelnut market is segmented on the basis of form, category, shape, origin, packaging, application, and distribution channel.
- On the basis of form, the hazelnut market is segmented into whole/in-shell hazelnut, natural hazelnut, diced hazelnut, paste hazelnut, blanched hazelnut, roasted hazelnut, sliced hazelnut, hazelnut oil, hazelnut meal and others.
- On the basis of category, the hazelnut market is segmented into conventional and organic.
- On the basis of shape, the hazelnut market is segmented into round kernels, almond kernels, pointed kernels and others.
- On the basis of origin, the hazelnut market is segmented into akcakoca, levant, giresun and others.
- On the basis of packaging, the hazelnut market is segmented into vacuum and cartons box, bags, pouches, plastic or metal drums and others.
- On the basis of application, the hazelnut market is segmented into industrial, food service industry and household/retail.
- On the basis of distribution channel, the hazelnut market is segmented into direct and indirect.
Regional Insights: Asia-Pacific dominates the Global Hazelnut Market
Expanding the food and beverage industry in Asia-Pacific propels hazelnut market growth. Rising demand from emerging markets such as China, India, and Indonesia fuels market expansion over the forecast period. The region is expected to maintain volume dominance due to its vast potential and evolving consumer preferences.
North America, the hazelnut market thrives due to increasing health awareness and preference for natural products. Consumers seek nutritious and natural alternatives, driving hazelnut's popularity. Rising demand for wholesome ingredients aligns with hazelnut's health benefits, rendering North America a lucrative market for hazelnuts in the face of evolving dietary and lifestyle trends.
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Recent Developments in Global Hazelnut Market
- In July 2021, Italian food brand Fabulous unveils an innovative line of organic hazelnut and cocoa spreads, blending hazelnuts, cocoa, and chickpeas. The lineup debuts with Hazelnut Cocoa flavor, followed by upcoming introductions of Savoury Orange Hazelnut and Crunchy Hazelnut variants.
- In April 2021, Italian company Rigoni di Asiago introduces Nocciolata Crunchy, an organic hazelnut spread. This variant incorporates toasted hazelnut grains, boasting a hazelnut content of 22%, offering consumers a delectable and crunchy hazelnut spread option.
- In January 2021, Ferrero collaborates with Sourcemap, aiming to enhance transparency across its hazelnut value chain. Utilizing Sourcemap's platform, Ferrero gathers crucial data on social and agricultural practices, leveraging data science for value chain validation and performance enhancement.
The Prominent Key Players Operating in the Global Hazelnut Market Include:
- Amadeus Trading Co. (U.S.)
- Apex Flavors Inc. (U.S.)
- Boston Hazelnut Bean Company (U.S.)
- Charles H. Baldwin and Sons (U.S.)
- Daintree Hazelnut and Spice (Australia)
- E.A. Weber and Co. (U.S.)
- Eurovanille (France)
- Lochhead Manufacturing Company (U.S.)
- MacTaggarts Brand (U.S.)
- McCormick and Company Inc (U.S.)
- Mikoya Kasho Co. Ltd. (Japan)
- Nielsen Massey Hazelnuts Inc. (U.S.)
- Rodelle Inc. (U.S.)
- SAMBIRANO AROMATIC (Switzerland)
Above are the key players covered in the report, to know about more and exhaustive list of global hazelnut market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Hazelnut Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
