What is the present valuation and projected CAGR of the hazelnut market?
The hazelnut market size has grown strongly in recent years. It will grow from $15.11 billion in 2024 to $16.48 billion in 2025 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to the rise of health, growth in the snack food sector, expansion of hazelnut cultivation, increasing demand for hazelnuts, and changes in consumer preferences towards plant-based diets.
The hazelnut market size is expected to see strong growth in the next few years. It will grow to $23.07 billion in 2029 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to rising awareness of sustainable and organic farming practices, expansion of e-commerce, climate change adaptation strategies, expansion of online grocery shopping, and increasing use of hazelnuts. Major trends in the forecast period include advancements in plant-based products, advancements in hazelnut processing, innovations in sustainable and organic farming practices, and innovations in hazelnut-based beverages.
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What key drivers have fueled the hazelnut market’s development over the years?
The growing popularity of plant-based diets is expected to propel the growth of the hazelnut market going forward. A plant-based diet focuses primarily on foods derived from plants, including fruits, vegetables, grains, legumes, nuts, and seeds. The rise in popularity of plant-based diets is driven by factors such as heightened awareness of health benefits, concerns over climate change, animal welfare issues, and the availability of diverse plant-based products. Hazelnuts are rich in antioxidants, healthy fats, and vital nutrients, which might help lower oxidative stress and inflammation, thus supporting brain health in those affected by Parkinson’s disease. For instance, in April 2023, according to the Plant Based Foods Association (PBFA), a US-based organization, plant-based foods saw a sales growth of 6.6% in 2022, up from 5.9% in 2021. Additionally, 70% of the U.S. population was consuming plant-based foods, an increase from 66% the previous year. Therefore, the growing popularity of plant-based diets is driving the growth of the hazelnut market.
What is the segmentation for 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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Who are the most influential companies 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 top industry trends projected to impact the hazelnut market?
Major companies operating in the hazelnut market are focusing on developing innovative products, such as innovative snacks and spreads, to enhance flavor profiles, improve nutritional value, and cater to evolving consumer preferences for healthier and more sustainable options. Snacks and spreads are convenient food items designed for quick consumption, with snacks being bite-sized treats and spreads being flavorful, often spreadable products used to enhance other foods. For instance, in October 2023, Otto’s Nuts, a US-based gourmet snack company, introduced a range of Turkish coffee and cocoa-coated hazelnut snacks, as well as innovative spreads. This product line includes various flavors that combine the delicious taste of hazelnuts with popular beverages, appealing to consumers seeking unique flavor experiences. The goal of the product line is to offer a perfect balance of sweetness and crunch while also highlighting the nutritional advantages of hazelnuts, such as healthy fats, fiber, and protein.
What are the major regional insights for the hazelnut market, and which region holds the top position?
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.
What Does The Hazelnut Market Report 2025 Offer?
The hazelnut market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
A hazelnut refers to the edible seed of the hazel tree, scientifically named Corylus avellana. This nut is round with a hard outer shell and possesses a rich, mildly sweet taste. It is frequently used in a variety of culinary applications, such as desserts, snacks, and oils. Hazelnuts are rich in beneficial fats, vitamins, and antioxidants, appealing to those who prioritize healthy eating.
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