Hazelnut Market Outlook 2024-2033: Trends and Projections

Market Size –
The hazelnut market size has grown strongly in recent years. It will grow from $13.89 billion in 2023 to $15.11 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. 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 $21.23 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. 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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Scope Of Hazelnut Market
The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Hazelnut Market Overview

Market Drivers –
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.

Market Trends –
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.

The hazelnut market 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

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Regional Insights –
Europe was the largest region in the hazelnut market in 2023 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.

Key Companies –
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.

Table of Contents
1. Executive Summary
2. Hazelnut Market Report Structure
3. Hazelnut Market Trends And Strategies
4. Hazelnut Market – Macro Economic Scenario
5. Hazelnut Market Size And Growth
…..
27. Hazelnut Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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