The Hazelnut Market is expected to reach value of US$ 9.08 billion by 2030

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The Global Hazelnut Market size is expected to grow from USD 6.95 billion in 2022 to USD 9.08 billion by 2030, at a CAGR of 3.4% during the forecast period (2023-2030).

 

Market Overview:

The Global Hazelnut Market size is expected to grow from USD 6.95 billion in 2022 to USD 9.08 billion by 2030, at a CAGR of 3.4% during the forecast period (2023-2030).

 

Hazelnuts are the nuts obtained from the hazel tree and can be found whole, raw, ground, sliced, or roasted. Hazelnuts are used primarily as a snack or added to baked goods. According to the International Nut and Dried Fruit Council, Hazelnut production has shown a rise in growth of 21% in 2021 and is estimated to increase between 1% to 5% in the upcoming years. Hazelnuts add taste and flavor to the chocolate truffles and are ground into flour for biscuits, and cakes. Furthermore, when compared to peanut butter, Chocolate-hazelnut spreads are majorly used, and numerous versions of this spread are available in supermarkets.

 

Top Key Players Covered In The 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), and Other Major Players.

 

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The Report Will Include A Major Chapter

·         Patent Analysis

·         Regulatory Framework

·         Technology Roadmap

·         BCG Matrix

·         Heat Map Analysis

·         Price Trend Analysis

 

Market Dynamics and Factors:      

The demand from customers for delicious and healthy chocolates and chocolate spreads has increased, which has been a boon for the expansion of the hazelnut sector. The major chocolate producers are encouraged to innovate and launch new chocolate products with hazelnuts added by this quickly growing demand. Together with peanut butter, chocolate hazelnut spreads are becoming more popular among health-conscious consumers, which helps the hazelnut industry grow. Also, hazelnut chocolate spreads and chocolates are essential for weight reduction, digestion, decreasing cholesterol, enhancing fertility, and boosting metabolism, which encourages chocolate makers to employ them in the right amounts in their goods. which is further anticipated to drive the market growth of hazelnuts over the forecast period.

The demand for hazelnuts is anticipated to rise quickly across a range of end-use sectors. The market for premium products has grown quickly as a result of urbanization and rising disposable incomes. This has also created a lucrative opportunity for hazelnut products to grow more quickly, particularly in North American and European countries. Customers in the regions are willing to pay more money for goods like frozen food and confectionary that contain unique ingredients. In the South Asian regions, it is also anticipated that consumer preference for goods such as chocolates, muffins, cakes, pastries, praline, and ice creams containing hazelnuts would increase quickly.

Hazelnut Market Report Highlight:

·         By Type, the processed hazelnut segment is anticipated to lead the growth of the Hazelnut market in the forecasted timeframe. Processed hazelnuts are easily accessible to consumers, processed to suit different consumer preferences and tastes, and are available in many forms. The high demand for dairy & frozen desserts, bakery & confectionery, and spreads & creams, has led to the dominance of this segment.

·         By Application, the food & beverages segment is expected to have the highest share of the Hazelnut market over the projected period. 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 is set to develop at the highest CAGR during the forecasted timeframe. Both the shell and kernel-based hazelnuts are available on a large scale in various supermarkets and hypermarkets propelling the market growth.

·         The Middle East and Africa region is expected to have the highest share of the Hazelnut market over the projected period. 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, which are the main factors driving the development of the market in this region.

 

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Key Industry Development:

In July 2021, A line of organic hazelnut and cocoa spreads made with a blend of chocolate, chickpeas, and hazelnuts has been introduced by the Italian food company Fantastic. The Savoury Orange Hazelnut and Crunchy Hazelnut tastes will be introduced after the initial Hazelnut Cocoa offering.

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.

Hazelnut Market Segmentation:

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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For this report, Introspective Market Research has segmented the Hazelnut Market based on region:

Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe

o    Germany

o    UK

o    France

o    Italy

o    Russia

o    Spain

o    Rest Of Europe

  • Asia Pacific

o    China

o    India

o    Japan

o    Singapore

o    Australia

o    New-Zealand

o    Rest of APAC

  • Middle East & Africa

o    Turkey

o    Saudi Arabia

o    Qatar

o    UAE

o    Israel

o    South Africa

  • South America
    • Brazil
    • Argentina
    • Rest of SA

 

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Scope of the Report:

The latest research on the Hazelnut market provides a comprehensive overview of the market for the years 2023 to 2030. It gives a comprehensive picture of the global Hazelnut industry, considering all significant industry trends, market dynamics, competitive landscape, and market analysis tools such as Porter's five forces analysis, Industry Value chain analysis, and PESTEL analysis of the Hazelnut market. Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years. The report is designed to help readers find information and make decisions that will help them grow their businesses. The study is written with a specific goal in mind to give business insights and consultancy to help customers make smart business decisions and achieve long-term success in their particular market areas.

 

 

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