Press release
Hazelnut Market is anticipated to grow by 5.9% value CAGR during 2023-2033
Hazelnut Market
The Hazelnut market is the segment of the global nut industry that focuses on the production, processing, and distribution of hazelnuts, also known as filberts. Hazelnuts are highly versatile nuts used in various applications, including confectionery, bakery products, spreads, and as a standalone snack. The market's growth is driven by increasing consumer awareness of the health benefits of hazelnuts and their use in a wide range of food products.
Market Size and Growth:
The global Hazelnut market was valued at US$ 7,670.3 Million in 2023. It is expected to grow at a CAGR of 5.9% from 2023 to 2033, reaching a projected value of US$ 13,112.9 Million by the end of the forecast period. The market's growth is mainly attributed to rising demand from the food and beverage industry and an increase in consumer preference for healthy and natural ingredients.
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Market Segmentations:
By Form:
• Whole Hazelnuts
• Sliced Hazelnuts
• Diced Hazelnuts
• Paste/Powder
By End-Use:
• Confectionery and Bakery
• Snacks and Bars
• Spreads (e.g., Nutella)
• Beverages
• Others
By Distribution Channel:
• Supermarkets and Hypermarkets
• Specialty Stores
• Online Retail
• Others
Regional Analysis:
The Hazelnut market is concentrated in regions with significant hazelnut cultivation and processing activities. Key regions analyzed in the report include:
• Turkey (the largest producer and exporter of hazelnuts globally)
• Italy
• United States (Oregon is a major hazelnut-producing region)
• Spain
• Georgia
• Azerbaijan
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Key Players:
The Hazelnut market is dominated by several key players involved in cultivation, processing, and distribution. Major players in the market include:
• Olam International
• Balsu Gida
• Ferrero Group
• Cargill, Inc.
• Kanegrade Ltd.
• Barry Callebaut Group
• Oliva Il Nocciolo Srl
• Oregon Hazelnut Industry Office (OHIO)
• Agri Nuts
• Aydin Kuruyemiş
Market Drivers:
• Growing awareness of hazelnuts' health benefits, including their high content of healthy fats, vitamins, and minerals.
• Increasing use of hazelnuts in the food and beverage industry for their unique flavor and texture.
• Rising demand for natural and plant-based ingredients in food products.
• Expanding popularity of hazelnut-based spreads and products in emerging markets.
Challenges:
• Hazelnut production is susceptible to weather conditions and climate change, leading to supply fluctuations.
• High susceptibility to pests and diseases affecting hazelnut crops.
• Price volatility due to fluctuations in global supply and demand.
Trends:
• Increasing adoption of hazelnut-based products in the vegan and plant-based food industry.
• Introduction of innovative hazelnut-based snacks and confectionery products.
• Sustainable and organic hazelnut farming practices to meet the demand for eco-friendly products.
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Future Projections:
The Hazelnut market is expected to witness steady growth in the coming years. Factors such as the increasing popularity of hazelnut-based spreads, rising demand for healthier snacks, and the growing use of hazelnuts in the confectionery and bakery industries will contribute to market expansion. Additionally, the adoption of sustainable farming practices and the development of new hazelnut varieties with improved disease resistance will further drive market growth.
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