Global Hazelnut Market Overview
As per MRFR analysis, the Hazelnut Market Size was estimated at 13.12 (USD Billion) in 2022.
The Hazelnut Market Industry is expected to grow from 13.68(USD Billion) in 2023 to 19.8 (USD Billion) by 2032. The Hazelnut Market CAGR (growth rate) is expected to be around 4.2% during the forecast period (2024 - 2032).
Key Hazelnut Market Trends Highlighted
Key market drivers for the hazelnut market include increasing demand for plant-based diets, rising popularity of hazelnut-based products, and growing health consciousness among consumers. The market is also driven by the growing demand for high-quality, natural, and sustainable ingredients in food and beverage products.
Opportunities for market growth include the expansion of hazelnut production in emerging markets, the development of new hazelnut-based products, and the growing demand for organic and fair-trade hazelnuts. Additionally, the rising popularity of e-commerce platforms and online food delivery services is creating opportunities for hazelnut producers and distributors to reach a wider customer base.
Recent trends in the hazelnut market include the increasing use of hazelnuts in confectionery and bakery products, the growing popularity of hazelnut milk and other plant-based alternatives to dairy, and the rising demand for hazelnut-based spreads and dips. Moreover, the market is witnessing a shift towards sustainable and ethical hazelnut production practices, with consumers becoming more aware of the environmental and social impacts of food production.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Hazelnut Market Drivers
Growing Health Consciousness among Consumers
Consumers watch out what they eat, choosing foods that will provide some health benefits for them. Hazelnuts are high in protein, fiber, and healthy fats, so it is no wonder that they have become very popular as a healthy snack. Thus, the increasing demand for healthier food products is expected to drive the growth of the Hazelnut Market Industry.
Expansion of the Food and Beverage Industry
Expansion of the Food and Beverage Industry is another major growth driver for the Hazelnut Market Industry. Hazelnuts are used in a wide range of food and beverage products such as bakery confectionery, and dairy products. The growing demand for such products is likely to propel the growth of the hazelnut market in the near future.
Rising Disposable Income in Emerging Markets
As for Hazelnut Market Industry, one of the main drivers of its growth is rising the disposable income in emerging markets. With more money to spend, consumers from these countries are purchasing more premium kinds of food, including hazelnuts. It is expected that the expanding middle class in emerging markets will lead to further growth of the consumption of hazelnuts.
Hazelnut Market Segment Insights
Hazelnut Market Type Insights
The market segmentation on the basis of Type includes Whole Hazelnut, Hazelnuts in Shell, Blanched Hazelnut, Hazelnut Paste, and Hazelnut Butter. Whole Hazelnuts, the most significant segment, made up a substantial market share in 2023 and is projected to lead throughout the forecast period. Their application in snacks, bakery products, and confectionery among various others drives the demand for Whole Hazelnuts. Hazelnuts in Shell, the second-largest segment, accounted for a substantial market share in 2023, majorly due to their utilization in baking, cooking, and as a topping or as a flavoring in salads and various other food preparations.Blanched Hazelnuts, which undergo a process of blanching to remove the skin, are gaining popularity in the market. Removal of the skin imparts a milder flavor and due to convenience and time-saving features is gaining popularity. Hazelnut Paste, a smoothly and spreadable form of hazelnuts, is in high demand in the food sector. The regular usage of hazelnut paste in the confectionery, bakery, and ice cream applications is expected to proliferate the market growth. Hazelnut Butter, similar to peanut butter, is also seeing demand as a spread. The nutritional value of hazelnut butter is much higher and the taste is unique.The key drivers include increasing disposable income, health consciousness, and the increase in veganism. The market is estimated to witness considerable growth over the next few years, with major players such as Balsu, Chelmer Foods introducing better products and expanding into emerging markets.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Hazelnut Market Application Insights
The Confectionery segment accounted for the largest revenue share of 45% in 2023 and is projected to maintain its dominance throughout the forecast period. The Bakery segment is expected to expand at a CAGR of 4.8% during the forecast period, owing to the increasing demand for hazelnut-based baked goods such as pastries, cookies, and bread. The Dairy segment is also expected to witness significant growth, driven by the rising popularity of hazelnut-flavored dairy products such as yogurt, ice cream, and milk. The Beverages segment is projected to grow at a CAGR of 4.2%, fueled by the increasing demand for hazelnut-flavored coffee and tea.The Snacks segment is expected to grow at a CAGR of 4.5%, driven by the growing popularity of hazelnut-based snacks such as trail mix, granola bars, and chocolate-covered hazelnuts.
Hazelnut Market Distribution Channel Insights
Distribution Channel Segment The distribution channel segment of the Hazelnut Market plays a crucial role in connecting producers with consumers. Supermarkets/hypermarkets dominate the segment, accounting for a significant share of the market revenue due to their wide reach and extensive product offerings. Convenience stores are another important channel, offering convenience and accessibility to consumers. Online retail has emerged as a rapidly growing channel, driven by the increasing popularity of e-commerce platforms. Wholesalers/distributors act as intermediaries between producers and retailers, ensuring efficient distribution and supply chain management.Direct-to-consumer channels, such as farm-to-table sales and online subscriptions, are gaining traction as consumers seek fresher and more customized products. By understanding the dynamics of each distribution channel, market participants can optimize their strategies to effectively reach target markets and drive growth.
Hazelnut Market Quality Grade Insights
The Quality Grade segment plays a crucial role in the Hazelnut Market, influencing market growth and industry dynamics. Premium grade hazelnuts, characterized by their exceptional quality, account for a significant portion of the market revenue, catering to the demands of discerning consumers seeking premium products. Standard grade hazelnuts represent a substantial segment, offering a balance between quality and affordability, making them popular among a wide range of consumers. Economy grade hazelnuts, while lower in quality compared to the other grades, still hold a notable market share, fulfilling the needs of budget-conscious consumers and industrial applications.Understanding the Quality Grade segment dynamics is essential for market participants to tailor their strategies and capture growth opportunities.
Hazelnut Market Regional Insights
The regional segmentation of the Hazelnut Market presents distinct market dynamics and growth opportunities. North America holds a significant share of the market, driven by increasing demand for hazelnuts in the confectionery and bakery industries. Europe is another prominent region, with Turkey being a major producer and exporter of hazelnuts. The APAC region is expected to witness steady growth in the coming years, fueled by rising disposable incomes and changing dietary habits. South America and MEA are emerging markets with untapped potential for hazelnut consumption.These regions offer favorable conditions for hazelnut cultivation, and growing awareness about the health benefits of hazelnuts is expected to drive market expansion. This growth will be supported by increasing demand for hazelnuts in various applications, coupled with rising health consciousness among consumers.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Hazelnut Market Key Players And Competitive Insights
Major players in Hazelnut Market are constantly striving to gain competitive advantage by implementing various strategies such as product innovation, mergers and acquisitions, and expanding their global footprint. Leading Hazelnut Market players are focusing on research and development to introduce new and improved products that cater to the evolving needs of consumers. The Hazelnut Market industry is witnessing a trend towards consolidation, with larger players acquiring smaller companies to expand their market share and product portfolio. The competitive landscape is expected to remain dynamic as new entrants emerge and existing players adopt innovative strategies to differentiate themselves in the market.Ferrero is a leading player in the Hazelnut Market, renowned for its Nutella chocolate spread and other hazelnut-based products. The company has a strong global presence and benefits from its vertically integrated supply chain, which ensures a steady supply of high-quality hazelnuts. Ferrero has a robust distribution network and invests heavily in marketing and advertising to maintain its brand recognition and market share. The company's focus on innovation has led to the development of new products, such as its healthier Hazelnut Spread with 30% Less Sugar.A competitor of Ferrero in the Hazelnut Market is Olam International, a leading agricultural commodity trader. Olam has a significant presence in the hazelnut market and sources hazelnuts from major producing regions around the world. The company has established long-term relationships with suppliers and customers, which enables it to secure a reliable supply of hazelnuts and meet the demand of its customers. Olam's global reach and expertise in logistics allow it to efficiently distribute hazelnuts to markets worldwide. The company also offers value-added services such as processing and packaging, providing comprehensive solutions to its customers.
Key Companies in the Hazelnut Market Include
- Hazelnut Growers of Oregon
- NutCracker
- Agrifood Trade Group
- Carmelita Orchards
- TODINI
- Elif Trading
- Cevitam
- Agri SA
- Lamberts Hazelnuts
- Shanah Group
- Prometeon
- Sibirsky Orekhovye
- Frutos Secos Fernandez
- Ferrero SpA
- Olam International
Hazelnut Market Industry Developments
The Hazelnut Market is projected to reach USD 19.8 billion by 2032, exhibiting a CAGR of 4.2% from 2024 to 2032. The rising demand for hazelnuts in confectionery and bakery products, coupled with their nutritional benefits, is driving market growth. Major players are investing in research and development to enhance hazelnut production and quality. For instance, in 2023, Ferrero announced a USD 6 million investment in a new hazelnut processing facility in Turkey to meet the growing demand for Nutella and other hazelnut-based products. Moreover, the increasing popularity of plant-based diets is creating opportunities for hazelnut milk and other dairy alternatives, further fueling market expansion.
Hazelnut Market Segmentation Insights
- Hazelnut Market Type Outlook
- Whole Hazelnut
- Hazelnuts in Shell
- Blanched Hazelnut
- Hazelnut Paste
- Hazelnut Butter
- Hazelnut Market Application Outlook
- Confectionery
- Bakery
- Dairy
- Beverages
- Snacks
- Hazelnut Market Distribution Channel Outlook
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Retail
- Wholesalers/Distributors
- Direct-to-Consumer
- Hazelnut Market Quality Grade Outlook
| Report Attribute/Metric |
Details |
| Market Size 2022 |
13.12(USD Billion) |
| Market Size 2023 |
13.68(USD Billion) |
| Market Size 2032 |
19.8(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.2% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Hazelnut Growers of Oregon ,NutCracker ,Agrifood Trade Group ,Carmelita Orchards ,TODINI ,Elif Trading ,Cevitam ,Agri SA ,Lamberts Hazelnuts ,Shanah Group ,Prometeon ,Sibirsky Orekhovye ,Frutos Secos Fernandez ,Ferrero SpA ,Olam International |
| Segments Covered |
Type ,Application ,Distribution Channel ,Quality Grade ,Regional |
| Key Market Opportunities |
Rising health consciousness increasing plantbased food consumption growing demand for confectionery expanding applications in bakery and dairy products and technological advancements in the food industry |
| Key Market Dynamics |
Increasing health consciousness Growing demand from food industry Rising disposable income Expanding ecommerce platforms Climate change concerns |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Hazelnut Market is expected to reach USD 19.8 billion by 2032, with a CAGR of 4.2% from 2023 to 2032.
The key regions in the Hazelnut Market are Europe, North America, Asia Pacific, and the Rest of the World. Europe is the largest market, followed by North America and Asia Pacific.
Hazelnuts are primarily used in the food industry, with applications in confectionery, bakery, and dairy products. They are also used in the cosmetics and pharmaceutical industries.
The key competitors in the Hazelnut Market include Ferrero, Olam International, and Agrifood. These companies account for a significant share of the Hazelnut Market.
The key trends in the Hazelnut Market include the increasing demand for hazelnuts in emerging markets, the growing popularity of hazelnut-based products, and the rising demand for organic and sustainable hazelnuts.
The Hazelnut Market is facing challenges such as climate change, which can affect hazelnut production, and the increasing cost of production, which can impact the profitability of hazelnut farmers.
The Hazelnut Market presents opportunities for growth in emerging markets, where the demand for hazelnuts is increasing. There is also an opportunity to develop and market new hazelnut-based products, and to promote the health benefits of hazelnuts.
The Hazelnut Market is expected to grow at a CAGR of 4.2% from 2023 to 2032. This growth is driven by the increasing demand for hazelnuts in emerging markets, the growing popularity of hazelnut-based products, and the rising demand for organic and sustainable hazelnuts.
The key factors driving the growth of the Hazelnut Market include the increasing demand for hazelnuts in emerging markets, the growing popularity of hazelnut-based products, and the rising demand for organic and sustainable hazelnuts.
The key challenges facing the growth of the Hazelnut Market include climate change, which can affect hazelnut production, and the increasing cost of production, which can impact the profitability of hazelnut farmers.
