Hazelnut Market Sees Strong CAGR of 9.9% as Health-Conscious Consumers Drive Demand, Valued at US$ 40.6 Billion by 2032

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Report Summary:The hazelnut market refers to the global trade and consumption of hazelnuts, which are edible nuts produced by the hazel tree. Hazelnuts are popular for their rich flavor and are used in a variety of food products, including chocolates, spreads (such as Nutella), baked goods, and snacks. The market for hazelnuts is influenced by factors such as supply and demand dynamics, production levels, quality standards, and pricing. Major hazelnut-producing countries include Turkey, Italy, the United States, Azerbaijan, and Georgia. These countries account for a significant portion of the global hazelnut production.

Turkey is the largest producer and exporter of hazelnuts, accounting for around 70-80% of the world’s hazelnut supply. Turkish hazelnuts are known for their high quality and are widely used in the confectionery industry. Italy is another significant producer, particularly known for its high-quality Piedmont hazelnuts. The demand for hazelnuts has been steadily increasing due to the growing popularity of hazelnut-based products worldwide. The confectionery industry, in particular, drives a significant portion of the demand. Hazelnuts are also increasingly used in the production of plant-based milk alternatives, as well as in the health food and snacking sectors.

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** Note – Updated Version 2023 Includes:

‣ Brief Overview to the research study.

‣ Table of Contents the scope of the study’s coverage

‣ Leading market participants

‣ Structure of the report’s research framework

‣ Prophecy Market Insights research approach

Market Overview:

The market overview provides a holistic view of a specific market, encompassing its size, growth potential, key players, prevailing trends, and influential factors. It outlines the market’s definition, emphasizing the product, service, or industry sector under consideration. Additionally, it presents the current market size, discussing historical growth trends and identifying the drivers of market expansion, such as increasing demand, technological advancements, or expanding consumer base. The market segmentation is addressed by highlighting key segments based on factors like product type, application, distribution channel, or geography, while emphasizing their relative size and growth prospects. Furthermore, the competitive landscape is analyzed, shedding light on major players, their market share, key strategies, product offerings, and competitive advantages. Lastly, notable mergers, acquisitions, or partnerships that have shaped market dynamics are explored.

Scope of Hazelnut Market:

The hazelnut market presents a promising scope for growth and opportunity, driven by factors such as growing consumer demand for healthy and natural food options, expanding product range in various industries, potential for geographic expansion, market penetration into new regions, value addition through processed products, emphasis on sustainability and ethical sourcing, and international trade prospects. With a diverse and versatile range of applications, hazelnuts offer avenues for innovation and market expansion, making it an attractive sector for businesses to explore and capitalize on emerging trends and consumer preferences.

Major companies in Hazelnut Market are:

  • Balsu Gida Sanayi Ve Ticaret AS
  • Chelmer Foods Ltd.
  • Kanegrade Ltd.
  • Archer Daniels Midland Company
  • Olam International Ltd.
  • Hazelnut Growers of Oregon, Inc.
  • Barry Callebaut AG
  • Kerry Group plc.
  • Soparind SCA
  • The Hershey Company

– Additionally, the report covers the fundamental variables impacting market growth as well as the opportunities, challenges, and dangers that the major competitors and the industry as a whole face. The impact of significant new developments on current and future growth is also examined.

Geographical Outlook:

➡ North America (U.S., Canada, Mexico)

➡ Europe (U.K., Italy, Germany, Russia, France, Spain, the Netherlands and Rest of Europe)

➡ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

➡ Latin America (Colombia, Brazil, Argentina, Rest of Latin America)

➡ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Key Insights:

Here are some key insights regarding the hazelnut market:

  • Growing Demand: The hazelnut market is experiencing a significant increase in demand due to the rising consumer preference for healthy and natural food options. Hazelnuts are valued for their nutritional benefits, flavor, and versatility in various food products.
  • Leading Producers: Turkey remains the dominant player in the global hazelnut market, accounting for the majority of the world’s production. Italy, the United States, Azerbaijan, and Georgia are also key hazelnut-producing countries.
  • Product Diversification: Hazelnuts are widely used in the confectionery industry, particularly in the production of chocolates, spreads (such as Nutella), and baked goods. However, there is an emerging trend of incorporating hazelnuts into plant-based milk alternatives, health foods, and snacks, expanding their application range.
  • Sustainability Focus: Consumers and industry stakeholders are increasingly emphasizing sustainability and ethical sourcing in the hazelnut market. This includes initiatives to promote sustainable farming practices, reduce environmental impact, and ensure fair trade.
  • Market Challenges: Hazelnut production can be susceptible to factors such as weather conditions, crop diseases, and geopolitical events, which may impact the global supply and pricing. Additionally, ensuring consistent quality and meeting stringent safety standards can pose challenges for producers.
  • Export Opportunities: Hazelnuts are traded internationally, offering export opportunities for producing countries. Reliable supply, quality assurance, and adherence to import regulations are crucial for accessing and maintaining a competitive edge in global markets.
  • Innovation and Value Addition: Market players are exploring value-added products such as roasted, chopped, ground, and flavored hazelnuts, as well as hazelnut extracts and oils, to cater to diverse consumer preferences and expand their product portfolios.

These key insights provide a snapshot of the hazelnut market, highlighting important trends, challenges, and opportunities within the industry.

Reasons to Buy the Report:

  • Thorough examination of the market at the international and local levels.
  • Significant changes in the competitive environment and market dynamics.
  • Classification based on kind, application, locality, and other factors.
  • Market analysis of the past and the future in terms of size, share expansion, volume, and sales.
  • Significant adjustments and evaluations of market dynamics and trends.
  • Regions and emerging important segments
  • Major market participants’ core business strategies and techniques.

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