What are the Historical Developments and Current Growth Metrics of the Hazelnut Market?
The hazelnut market has seen considerable growth due to a variety of factors.
• In recent times, the size of the hazelnut market has expanded significantly. The market, seen at $15.11 billion in 2024, is projected to grow to $16.48 billion in 2025, with a compound annual growth rate (CAGR) of 9.1%.
The growth experienced in the historical period is due to factors such as the growing concern for health, increased growth in the snack food sector, further expansion of hazelnut farming, heightened demand for hazelnuts, and a shift in consumer preferences towards vegetarian diets.
What is the Forecasted Market Size and CAGR for the Hazelnut Market?
The hazelnut market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated robust expansion is foreseen in the forthcoming times in the hazelnut market size. It is predicted to inflate to $23.07 billion in 2029, with a compound annual growth rate (CAGR) of 8.8%.
The escalation during the projected period is associated with the growing cognizance of organic and sustainable farming methods, surge in e-commerce, adaptation to climate change, the growth of online grocery shopping, and heightened utilization of hazelnuts. Predominant trends for the period of projection encompass enhancements in plant-derived products, improvements in hazelnut treatment, breakthroughs in sustainable and organic farming techniques, and novel developments in beverages based on hazelnut.
What Key Factors and Trends Are Driving The Growth Hazelnut Market?
The increasing trend towards plant-based diets is predicted to boost the expansion of the hazelnut market. These diets predominantly consist of plant-derived foods, such as fruits, vegetables, grains, legumes, nuts, and seeds. The increasing appeal of plant-based diets is prompted by factors like an enhanced understanding of health benefits, concern about climate change, issues of animal welfare, and the wide array of available plant-based products. Hazelnuts, owing to their high antioxidant content, beneficial fats, and essential nutrients, could potentially reduce oxidative stress and inflammation, thereby improving brain health in Parkinson's patients. For example, the Plant Based Foods Association (PBFA), a U.S.-based entity, reported in April 2023 that there was a 6.6% increase in plant-based food sales in 2022, a rise from 5.9% in 2021. Furthermore, 70% of the U.S. population included plant-based foods in their diet, a jump from 66% in the previous year. Hence, the rising trend of plant-based diets is fueling the expansion of the hazelnut market.
What Are The Market Segments In The Hazelnut Market?
The hazelnutmarket 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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Which Emerging Market Trends Are Altering The Hazelnut Industry?
Prominent businesses in the hazelnut industry are pivoting towards the invention of innovative products, like unique snacks and spreads, to boost taste profiles, increase nutritional content, and satisfy growing consumer demand for healthier and more eco-friendly choices. Snacks and spreads are user-friendly food options tailored for swift consumption - snacks offer small portions for direct consumption, while spreads are typically full of flavor, often used to enhance the taste of other foods. Otto's Nuts, a gourmet snack corporation based in the US, for example, launched a series of snacks coated with Turkish coffee and cocoa, along with creative spreads, in October 2023. This product range incorporates several flavors that meld the delightful taste of hazelnuts with popular drinks, attracting consumers who crave distinct taste sensations. The objective of these products is to provide a flawless blend of sweetness and crunchiness while underscoring the health benefits of hazelnuts, including healthy fats, fiber, and protein.
Who Are the Key Players 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.
What Are The Regional Insights Into The Hazelnut Market?
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.
