Hazelnut Market Segmented By Form (Raw, Processed, Oil), the processed hazelnut is estimated to dominate the hazelnut market, with a 84.7% share in terms of revenue by 2023 end.
Industry: Food and Beverages
Published Date: April-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 309
Report ID: PMRREP14005
The worldwide sales of hazelnut is valued at US$ 7,670.3 Mn for 2023 and is estimated to incur the sales of US$ 13,112.9 Mn by end of 2033. The market is anticipated to grow by 5.9% value CAGR during 2018-2033, owing to high consumer demand for healthy ingredients and increasing investment in hazelnut production.
|
Hazelnut Market Size (2023E) |
US$ 7,670.3 Mn |
|
Projected Sales of Hazelnut (2033F) |
US$ 13,112.9 Mn |
|
Value CAGR (2023-2033) |
5.9% |
|
Value Share of Top 4 Countries (2023E) |
42.8% |
During preceding years, the global hazelnut market grew by 5.2% value CAGR and generated the revenue of US$ 6,729.3 Mn for 2021. In 2018-2022, the consumption growth rate of raw hazelnut demonstrated 4.8% value CAGR, owing to rising demand for nuts in snacks and chocolate industries.
Hazelnut is the edible fruit of hazel and it is also known as the cobnut and filbert nut according to the species. The ~70% of world production of hazelnuts comes from Turkey and rest is from Italy, Spain and Costal Northern American Valleys. Hazelnut production has a seasonality factor. In autumn, production is more as compared to other seasons, whereas, the demand for hazelnuts is fairly consistent throughout the year. Due to this, prices rise in the off season, which affects the business of many confectioners. Key players remedy this by having a vertical control on hazelnut supply, but the sufferers are small manufacturers, new entrants, and retailers.
Diversified offerings using hazelnut as a key ingredient is expected to increase retail shelf space for food products and will positively benefit overall hazelnut market. The global demand for hazelnut is valued at US$ 7,670.3 Mn for 2033 and the consumption of hazelnut in food processing industry is likely to grow at decent rate during 2023-2033.
“Hazelnut usage in broader application areas”
Though 90% of hazelnut is consumed as a snack in the U.S., major manufacturers are coming up with the usage of hazelnuts in other industries, such as cosmetics and pharmacy.
La Tourangelle, Henry Lamotte Oils GmbH, and many other companies are coming up with hazelnut oil product lines, while promoting these products via displaying the benefits of hazelnut oil in cosmetics. Global beverage industry giant Davide Campari-Milano S.p.A., trading as Gruppo Campari, has re-launched Frangelico, a hazelnut incorporated herb-flavored liqueur, which is doing well all over Canada.
“‘Confectioners Demanding Hazelnut to Promote Their Healthy Products”
Developing countries such as India and China have a long relationship with nuts. In all tradition-rich dishes, nuts are the main ingredient. In fact, these countries relate nuts with health and wellness, and hence, are habitual of putting nuts in dishes or eating them dry as a snack on a daily basis. Consumers consider hazelnuts as a luxury nut; hence, to grow their business, chocolate manufacturers are coming up with hazelnut-incorporated signature product lines, which is emerging as an innovation in taste in the confectionery market, with improved properties in order to cater to a wider range of consumers.
“Acceptance of chocolates and modern confectioneries in festivals”
Unlike Japan, India and China have a rich cultural heritage of nut consumption; many traditional dishes are prepared using nuts. Earlier, consumers preferred making dishes at home. But due to the rise in disposable income, outside eating and westernization in eating habits are becoming more dominating among the developing countries of APEJ, especially India and China. The urban population are highly inclined towards ready-to-eat food; they prefer packaged meals that can consumed anywhere. Traditionally, nuts have been a star ingredient in most of the festive dishes, especially sweets. The upward trend among chocolatiers of re-launching their products in the festive seasons with a fusion of Western styles and traditional, generally with luxury nuts incorporated into chocolates.
For Instance, Ferrero Rocher, Nutella, Kinder by Ferrero Company, Hazelnut-flavored coffee by Nescafe, Caramelized hazelnut enriched in chocolate by East India Company London, Fistiko by Findik Kemasi, Hazelnut-flavored syrup by Starbucks are the prominent launches during the festive season.
“Alternative Products Used Preferentially Due to Lower Price Points”
As compared to other nuts, hazelnuts require very customized climatic conditions, which directly affects their production. Almonds, pecans, cashew nuts, walnuts, and pistachios are leading hazelnuts in production. The production of almonds, cashew and pistachios is much larger than hazelnuts which has negatively impacted the hazelnut market.
In consumption, where almonds, cashew nuts, and walnuts are the core choices among high-income people, middle-income people find their comfort choice among walnuts, pistachios, cashew nuts, and almonds. For both income level people, hazelnut is an average choice. The perception about hazelnuts among people is more of a flavor nut, and it is still in the bracket of luxury food over necessary food. Many confectioners experimented by replacing their hazelnut incorporated bestsellers into other nut incorporated ones, and did not find much of a difference in their business.
What is sales of hazelnut in the European market?
According to PMR analysis, Europe and North America are dominating the global hazelnut market and it is predicted that both the regions will the hold high value share in the forthcoming years. Furthermore, Europe is the leading consumer of hazelnuts with valuation of US$ 2,833.9 Mn for 2023, owing to rising demand from chocolate and bakery industry.
What is consumption growth rate of hazelnut in East Asia?
East Asia is expected to witness high growth of around 8.1% during forecast period, due higher imports of hazelnut in these region. Also, shifting consumer preference towards cosmetic products containing natural ingredients coupled with increasing penetration of beverages containing hazelnut flavor is expected to support the demand for hazelnut in these regions.
Which form of hazelnut is dominating the global hazelnut market?
Based on form, the hazelnut market is segmented into raw, processed and oil. Among the form segments, the processed hazelnut is estimated to dominate the hazelnut market, with a 84.7% share in terms of revenue by 2023 end.
What is the demand outlook for hazelnut in the cosmetic sector?
Hazelnut oil is expected to demonstrate higher adoption in cosmetic and personal care space, as it contains acids which are beneficial for repairing skin, and contains high amount of anti-oxidant that supports skin health. In 2023, the value consumption of hazelnut in the cosmetic sector is valued at US$ 281.1 Mn for 2023 and is anticipated to grow by 6.3 % value CAGR during forecast period.
Companies are focusing on expanding their product portfolio for targeted consumer segments by introducing varieties of products with hazelnut as a key ingredient. Suppliers are entering into long-term contracts with hazelnut producers to avoid high cost of end products and to reduce the margin across the value chain.
Collaboration through joint ventures between hazelnut producers and end users is expected to enhance the product development process and ensure long-term success for all participants across the value chain. Key confectionery players are entering into the market of hazelnut manufacturing, which benefits them in two ways, firstly, no shortage of hazelnut for their signature products, and secondly, business expansion by retailing hazelnuts.
|
Attribute |
Details |
|
Forecast period |
2023-2033 |
|
Historical data available for |
2018-2022 |
|
Market analysis |
USD million for value |
|
Key regions covered |
|
|
Key countries covered |
|
|
Key market segments covered |
|
|
Key companies profiled |
|
|
Report coverage |
|
|
Customization & pricing |
Available upon request |
By Form:
By Application:
By Distribution Channel:
By Region:
To know more about delivery timeline for this report Contact Sales
The global market for hazelnut has a value of US$ 7,670.3 Mn 2023.
The global market for hazelnut has a value CAGR of 5.2% from 2018-2022.
The global market for hazelnut has a value of US$ 13,112.9 Mn in 2033.
The global market for hazelnut has a value CAGR of 5.9% from 2023-2033.
Companies such as Olam International, Barry Callebaut AG, Ferrero International S.A., Durak Findik, and others are some of the major players operating in the global hazelnut market.
