Global Hazelnut Market by Size, Opportunity Analysis and Industry Trend & New Technology till 2023-2030| Introspective Market Research

Market Overview:
The Hazelnut Market Was Estimated At USD 6.72 Billion In 2021 And Is Projected To Reach USD 8.49 Billion By 2028, Growing At A CAGR Of 3.4% Over The Analysis Period.

Hazelnuts are nuts of the hazelnut tree that can be found whole, raw, ground, sliced , or roasted. Hazelnuts are mainly used as snacks or added to baked goods. According to the International Council on Nuts and Dried Fruits, hazelnut production increased by 21 percent in 2021 and is estimated to increase by 1 to 5 percent in the coming years. Hazelnuts add flavor and taste to chocolate truffles and are ground into flour for cookies and cakes. Also, compared to peanut butter, chocolate hazelnut spread is used mainly, of which there are many versions available in supermarkets.

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Top Key Players Covered In Hazelnut Market
• Balsu Gida (Turkey)
• Chelmer Foods (North Essex)
• Kane grade (U.K)
• Olam International (Singapore)
• Oregon Hazelnuts (U.S.)
• Aydin Kuruyemis (Istanbul)
• GEONUTS (Georgia)
• Poyraz Tarimsal (Istanbul)
• Barry Callebaut AG (Switzerland)
• Arslantürk (Turkey)
• Karimex (Brazil)
• Gursoy Tarimsal Urunler Gida (Turkey)

Market Dynamics:
Driver:
With the rapid growth of the chocolate industry, the increase in consumer demand for delicious and nutritious chocolates and chocolate spreads has proven to be a boon for the growth of the hazelnut market. Rapidly growing demand is encouraging key producers in the chocolate industry to innovate and introduce new chocolate products containing hazelnuts. Chocolate hazelnut spreads are gaining popularity among health-conscious consumers along with peanut butter, fueling the growth of the hazelnut market. In addition, hazelnut chocolates and chocolates are essential for improving fertility, boosting metabolism, lowering cholesterol, weight loss, and digestion, which encourages chocolatiers to use them in appropriate amounts in their products.

Opportunities:
The demand for hazelnuts is expected to grow rapidly in various end-use industries. The increase in urbanization and disposable income has led to a rapid increase in the market growth of premium products and has provided a profitable opportunity for hazelnut products to grow faster, especially in the North American and European regions. Consumers in the regions are willing to pay higher prices for products with exotic ingredients, including frozen and confectionery products. Hazelnut-containing products such as chocolates, muffins, cakes, pastries, waffles, and ice creams are also growing rapidly in South Asian regions.

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Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis.

The Report Will Include A Major Chapter
• Patent Analysis
• Regulatory Framework
• Technology Roadmap
• BCG Matrix
• Heat Map Analysis
• Price Trend Analysis
• Investment Analysis

Segmentation Analysis Of Hazelnut Market
By Type, the processed hazelnut segment dominates the hazelnut market. Processed hazelnuts are easily accessible to the consumers, processed to suit different consumer preferences and tastes, and are available in many forms.
By Application, the food & beverages segment dominates the global hazelnut market. The rapid growth is attributed to the rising hazelnut usage in chocolates, icecreams, cakes, spreads, creams, and bars.

By Distribution channel, the offline segment dominates the hazelnut market growth. Both the inshell and kernel-based hazelnuts are available on a large scale in various supermarkets and hypermarkets propels the market growth.

By Type
• Processed Hazelnuts
• Unprocessed Hazelnuts

By Application
• Hazelnut-based Foods & Beverages
• Hazelnut Oil
• Pharmaceutical
• Cosmetics

By Distribution Channel
• Online
• Offline

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Regional Analysis Of Hazelnut Market
The Middle East and Africa is the major dominating region for the hazelnut market. Turkey is the largest producer of Hazelnuts and it accounts for around 70% of the world's hazelnut supply owing to the rising demand from the millennials and urban population as well as the favorable climatic conditions in this region.

By Region
• North America (U.S., Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)
Key Industry Development In The Hazelnut Market
In July 2021, the Italian food brand Fabulous declared the launch of a line of organic hazelnut and cocoa spreads that are created with a combination of hazelnuts, chickpea, and cocoa. The original Hazelnut Cocoa product further will be followed by the launch of the Savoury Orange Hazelnut as well as Crunchy Hazelnut flavors.
In April, 2021, Hazelnut Growers of Oregon (HGO) and its parent company Wilco happily announced that they are seeking a partner with a track record of building great brands to further form a joint venture to grow HGO's retail hazelnut consumer product business.

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Key Benefits of the Report
• This study presents the analytical depiction of the global hazelnut industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global hazelnut market share.
• The current market is quantitatively analyzed to highlight the global hazelnut market growth scenario.
• Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.

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