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Hazelnut Market Expected to Achieve 9.2% CAGR by 2029: Growth Forecast Insights
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.How Large Will the Hazelnut Market Size By 2025?
Recent years have witnessed a robust growth in the hazelnut market size. The market, which stood at $15.11 billion in 2024, is projected to reach $16.52 billion in 2025, recording a compound annual growth rate (CAGR) of 9.3%. The substantial growth during the historic period is due to a surge in health consciousness, expansion in the snack food industry, enlargement of hazelnut cultivation areas, an upswing in the demand for hazelnuts, and a shift in consumer preferences towards plant-based diets.
How Big Is the Hazelnut Market Size Expected to Grow by 2029?
Expectations are high for the hazelnut market, as it's projected to experience significant growth in the upcoming years. By 2029, the market size is anticipated to have inflated to an impressive $23.51 billion, with a compound annual growth rate (CAGR) of 9.2%. This expansion during the forecast period is largely due to factors such as heightened awareness about sustainable and organic farming, growth of e-commerce, strategies for adapting to climate change, proliferation of online grocery shopping, and the rising utilization of hazelnuts. Key trends for the forecast period involve advancements in plant-based products, evolution in hazelnut processing techniques, novel ideas in sustainable and organic farming practices, and fresh innovations in hazelnut-infused beverages.
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Which Key Market Drivers Powering Hazelnut Market Expansion and Growth?
The surge in interest towards plant-based diets is anticipated to drive the expansion of the hazelnut market. These diets mainly involve food products sourced from plants, such as fruits, vegetables, grains, legumes, nuts, and seeds. The increased adoption of plant-based diets is influenced by factors like a heightened realization of health perks, rising worries about climate change, concerns related to animal well-being, and availability of a variety of plant-sourced products. Hazelnuts, being rich in antioxidants, health-beneficial fats and crucial nutrients can possibly reduce oxidative stress and inflammation, thus, maintaining brain health in people diagnosed with Parkinson's disease. For example, as per the Plant Based Foods Association (PBFA), a US organization, in April 2023, the sales gain of plant-based foods was 6.6% in 2022, an enhancement from 5.9% in 2021. Additionally, 70% of the U.S. populace had plant-based foods, a rise from 66% the year before. Hence, the increasing attraction towards plant-based diets is fuelling the hazelnut market growth.
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Which Fast-Growing Trends Are Poised to Disrupt the Hazelnut Market?
Prominent firms in the hazelnut industry are prioritizing the creation of unique products, including innovative snacks and spreads, with the aim of enhancing taste, increasing nutritional benefits, and meeting the changing demands of consumers for healthier and more ecologically-friendly alternatives. Snacks and spreads are essentially easy-to-eat food items, with snacks typically being small, bite-sized delicacies, and spreads being flavourful products often used to improve the taste of other food items. For instance, Otto's Nuts, a gourmet snack company based in the US, launched a series of Turkish coffee and cocoa-coated hazelnut snacks, along with distinctive spreads, in October 2023. This product range features a variety of flavors that mix the delightful flavor of hazelnuts with popular beverages, catering to individuals desiring unique taste adventures. The product range's objective is to provide an ideal mix of sweet and crunchy, while also focusing on the health benefits of hazelnuts, which include healthy fats, fiber, and protein.
What Are the Emerging Segments in the Hazelnut Market?
The hazelnut market covered in this report is segmented -
1) By Type: Whole Hazelnut, Hazelnut Oil, Hazelnut Flour, Hazelnut Paste, Other Types
2) By Form: Roasted, Unroasted
3) By Distribution Channel: Online, Offline
4) By Application: Personal Care And Cosmetics, Pharmaceutical Industry, Food And Beverages, Other Applications
Subsegments:
1) By Whole Hazelnut: Raw Whole Hazelnuts, Roasted Whole Hazelnuts, Blanched Whole Hazelnuts
2) By Hazelnut Oil: Cold-Pressed Hazelnut Oil, Refined Hazelnut Oil, Unrefined Hazelnut Oil
3) By Hazelnut Flour: Blanched Hazelnut Flour, Unblanched Hazelnut Flour, Organic Hazelnut Flour
4) By Hazelnut Paste: Sweetened Hazelnut Paste, Unsweetened Hazelnut Paste, Organic Hazelnut Paste
5) By Other Types: Hazelnut Butter, Hazelnut Milk, Hazelnut Spread
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Who Are the Global Leaders in the Hazelnut Market?
Major companies operating in the hazelnut market are Cargill Inc., Nestlé S.A., Ferrero International S.A., Barry Callebaut AG, J.M. Smucker Company, McCormick and Co. Inc., Hain Celestial Group Inc., Diamond Foods LLC, Nutiva Inc., Tropicana Products Inc., Weber Flavors, GEONUTS, Amedei Toscana, Chelmer Foods Ltd., Baker's Choice, Azerstar LLC, Northwest Hazelnut Company, Hazelnut Growers of Oregon Inc., Hazelz New Zealand, Apex Flavors Inc., Pascha Chocolate, Arslanturk S.A., Boxon Food, BATA FOOD Inc.
Which are the Top Profitable Regional Markets for the Hazelnut Industry?
Europe was the largest region in the hazelnut market in 2024 and it is expected to be the fastest-growing region in the forecast period. The regions covered in the hazelnut market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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