Hazelnut Market

Market Overview:

The global hazelnut market size reached US$ 16,111.41 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 26,440.71 Million by 2028, exhibiting a growth rate (CAGR) of 8.80% during 2023-2028. The growing prevalence of chronic and acute indications, rising preference for outpatient stay due to its lower costs and convenience, expanding food and beverage (F&B) industry and increasing health consciousness represent some of the key factors driving the market.

Hazelnut, scientifically known as Corylus avellana, is a deciduous tree native to Europe and parts of Asia. It belongs to the family Betulaceae and is renowned for its tasty nuts, commonly referred to as hazelnuts or filberts. The hazelnut tree typically reaches a height of 12 to 20 feet and features a round crown with broad, serrated leaves. It produces small, yellowish male flowers known as catkins and tiny reddish female flowers, which eventually develop into clusters of nuts encased in husks. The nuts are spherical in shape, with a hard outer shell that protects the edible kernel inside. Hazelnuts are widely appreciated for their rich flavor and culinary versatility. Besides their culinary value, hazelnuts also offer nutritional benefits. They are an excellent source of healthy fats, dietary fiber, and several essential vitamins and minerals, including vitamin E, folate, magnesium, and potassium. Nowadays, hazelnuts are gaining widely consumed as they are known to support heart health, promote brain function, and contribute to overall well-being.

Hazelnut Market Trends:

One of the primary factors driving the market is the versatile use of hazelnuts in various food products, including chocolates, spreads, baked goods, and snacks. Consumers are increasingly seeking healthier and natural alternatives, and hazelnuts are considered a nutritious option, thus escalating the demand for hazelnuts. Additionally, hazelnuts are widely used in the confectionery and baking sectors, as well as in the production of spreads, ice creams, and snacks. Besides this, with the expanding food industry, manufacturers are introducing new hazelnut-based products incorporating hazelnuts into various food items. This diversification helps to expand the consumer base and create new market opportunities. Moreover, due to the growing environmental consciousness, consumers and food companies are showing more interest in hazelnuts produced through environment-friendly practices and certifications such as Fairtrade, organic, or Rainforest Alliance. Other than this, the rise in veganism and the adoption of plant-based diets have fueled the demand for hazelnuts as they serve as a suitable alternative to dairy-based products in vegan chocolates, spreads, and milk substitutes. The versatility of hazelnuts makes them appealing to consumers seeking plant-based options. Furthermore, trade policies, import-export regulations, and changing consumer preferences are other major growth-inducing factors.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global hazelnut market report, along with forecasts at the global, regional, and country levels for 2023-2028. Our report has categorized the market based on the type and application.

Type Insights:

• Whole hazelnut
• Hazelnut oil
• Hazelnut flour
• Hazelnut paste
• Others
   

The report has provided a detailed breakup and analysis of the hazelnut market based on the type. This includes whole hazelnut, hazelnut oil, hazelnut flour, hazelnut paste, and others. According to the report, hazelnut flour represented the largest segment.

Application Insights:

• Industrial
• Food service industry
• Household/retail
   

A detailed breakup and analysis of the hazelnut market based on the application has also been provided in the report. This includes industrial, food service industry, and household/retail.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for hazelnut. Some of the factors driving the North America hazelnut market included  increasing consumer demand for healthy and natural food products, expansion of the confectionery and bakery industries, and shift toward plant-based and vegan diets.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global hazelnut market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include American Hazelnut Company, Arslanturk S.A., Aydin Kuruyemi, Azerstar LLC, Barry Callebaut AG, Chelmer Foods Ltd., Eurovanille, Hazelz New Zealand, Holmquist Hazelnut Orchards LLC, Olam International Ltd., Oregon Hazelnut Company, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global hazelnut market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global hazelnut market?
• What is the impact of each driver, restraint, and opportunity on the global hazelnut market?
• What are the key regional markets?
• Which countries represent the most attractive hazelnut market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the hazelnut market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the hazelnut market?
• What is the competitive structure of the global hazelnut market?
• Who are the key players/companies in the global hazelnut market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the hazelnut market from 2017-2022.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global hazelnut market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the hazelnut industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.