Hazelnuts Price Trend

Hazelnuts Prices December 2023

In the fourth quarter of 2023, the price of hazelnuts in the United States reached 4604 USD/MT by December. Similarly, in China, the hazelnuts prices hit 2427 USD/MT in the same month.

Hazelnuts Price Trend, Market Analysis, and News

IMARC's latest publication, “Hazelnuts Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” presents a detailed examination of the hazelnuts market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of hazelnuts at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents a detailed hazelnuts price trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting hazelnuts pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

Hazelnuts Market Analysis

The global hazelnuts market size reached US$ 2.09 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 3.94 Billion, at a projected CAGR of 7.30% during 2023-2032.

• The rising popularity of plant-based diets is significantly boosting the demand for hazelnuts. As more consumers adopt vegetarian and vegan lifestyles, particularly in North America and Europe, the need for nutritious, plant-based foods increases. According to a report published by, Our World in Data, 5% of adults follow a vegetarian diet, while 2% follow a vegan diet globally. Hazelnuts are highly versatile, and used in various recipes such as nut butters, dairy alternatives, and vegan desserts. This shift towards plant-based eating is driven by health consciousness, environmental concerns, and ethical considerations, making hazelnuts a favored choice among those seeking wholesome, plant-derived ingredients. Consequently, the hazelnuts market is experiencing substantial growth in response to this dietary trend.
• The growing awareness of the health benefits associated with hazelnuts significantly drives market demand. Hazelnuts, rich in healthy fats, proteins, vitamins, and antioxidants, are increasingly recognized for their positive impact on heart health and overall well-being. Consumers are prioritizing nutritious foods, making hazelnuts a popular choice for healthy snacks and ingredients. Their high levels of vitamin E, magnesium, and beneficial fats contribute to various health benefits, including reduced inflammation and improved cardiovascular health. As health-conscious eating trends rise, hazelnuts are becoming a preferred option in diets focused on wellness and nutrition.
• Hazelnuts are a staple in the food industry, prominently featured in confectionery, bakery items, spreads, and dairy alternatives. Products like Nutella and various chocolate bars heavily utilize hazelnuts, driving significant demand. According to an article published by Cravedfw, each year, over 1.35 million pounds of Nutella are produced and over 250,000 tons are sold in 75 countries. The nine major global companies are based in Europe, Russia, North America, South America, and Australia. France is the largest consumer, accounting for over 25% of the world's consumption and production. Nutella is widely used in French cuisine, including in ice cream, breakfast dishes, and bread. The growing consumer preference for natural and plant-based ingredients further enhances their appeal, as manufacturers innovate to meet this trend. Hazelnuts' rich flavor and nutritional benefits make them ideal for new, health-focused products.

Hazelnuts News

The report covers the latest developments, updates, and trends impacting the price of hazelnuts, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the hazelnuts price trend.

Latest developments in the hazelnuts industry:

• In Dec 2023, a Ferrero-related company is in exclusive negotiations to acquire Michel et Augustin from Danone. Michel et Augustin is known for its premium biscuits and snacks, primarily sold in France and six other markets. The acquisition aims to strengthen Ferrero's presence in France and expand its footprint in the premium biscuits market.
• In April 2024, Olam Group Limited's subsidiary, Olam Agri secured a US$625 million Shariah-compliant financing facility, diversifying its funding mix with access to a new investor pool. The facility, initially guaranteed by Olam Group, will transfer to Olam Agri after its planned IPO and demerger. The facility involves a diversified group of global investors, with Emirates NBD Capital Limited and Abu Dhabi Commercial Bank as the Global Shariah coordinators.

Product Description

Hazel nuts also known as filberts, are round, brown nuts from the hazel tree which is mainly cultivated in Turkey, Italy, and the United States. Hazelnuts are generally known for their rich, slightly sweet flavor and crunchy texture. These are highly sought-after ingredients in various culinary applications including confections, baked goods, and spreads like Nutella. They are nutritionally dense offering a significant amount of healthy fats, proteins vitamins, and minerals like vitamin E, magnesium, and antioxidants which contribute to heart health and overall Wellness. Their versatility extends to savory dishes and dairy alternatives which makes them a highly sought-after product in health-conscious diets. The rising consumer interest in nutritious, plant-based food further underscores the global appeal of hazelnuts driving their demand for both traditional and innovative food products.

Regional Coverage

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the hazelnuts price trend.

Global Hazelnuts Price

The report offers a holistic view of the global hazelnuts pricing trends in the form of hazelnuts price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of hazelnuts, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed hazelnuts demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Hazelnuts Price

Hazelnut prices surged steeply in European countries, especially those with Turkish connections, due to supply concerns and blocked supply routes from Turkey, a leading producer. Challenges like global warming, insect damage, and inadequate rainfall have adversely impacted Turkish hazelnut harvest rates. Despite higher in-shell purchasing prices set by the Turkish Grain Board, traders halting sales until December have intensified supply concerns, leading to rapid price escalation and potential shifts in purchasing strategies.

Detailed price information for hazelnuts can also be provided for an extensive list of European countries.

North America Hazelnuts Price

The analysis of hazelnuts prices in North America delves into the regional industry dynamics, encompassing the impact of local production and the trade flows between North America and other significant global markets.

Specific hazelnuts historical data within the United States and Canada can also be provided.

Middle East and Africa Hazelnuts Price

The report explores the hazelnuts pricing trends in the Middle East and Africa, considering factors like the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Hazelnuts Price

The hazelnuts pricing trends in the Asia Pacific are examined, reflecting the role of the region as a major global producer and consumer of agricultural products, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.

This hazelnuts price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Hazelnuts Price

The analysis of hazelnuts prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, agricultural output, and trade frameworks.

This comprehensive review can be extended to include specific countries within Latin America.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of hazelnuts pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
• The study examines factors affecting hazelnuts price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The hazelnuts price charts ensure our clients remain at the forefront of the industry.