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Hazelnut Market Size, Share, Industry Trends and Forecast to 2033

This report provides a comprehensive analysis of the Hazelnut market, covering key insights into market size, growth forecasts, segmentations, and regional dynamics from 2023 to 2033.

Metric Value
Study Period 2023 - 2033
2023 Market Size $9.10 Billion
CAGR (2023-2033) 3.8%
2033 Market Size $13.30 Billion
Top Companies Olam International, Genova S.r.l., Ferrero, Barry Callebaut
Last Modified Date 15 Nov 2024

Hazelnut Market Report (2023 - 2033)

Hazelnut Market Overview

The hazelnut industry is characterized by a concentrated supply chain, where a few countries dominate production. Turkey leads the world in hazelnut production, followed by Italy and the United States. The market structure includes various stages, from farming through processing to distribution. With over 70% of the world's hazelnut supply coming from Turkey, the industry is sensitive to climatic changes and agricultural practices. Furthermore, several industry players are focusing on improving quality and expanding their product range to cater to diverse consumer needs.

What is the Market Size & CAGR of Hazelnut market in 2023?

The hazelnut market is projected to reach USD 13.47 billion in 2023, with a compound annual growth rate (CAGR) of 6.4% expected until 2033. The demand for hazelnuts is primarily driven by their increasing application in the food industry, especially in baked goods and confectionery. With the growing trend of veganism and healthy eating, hazelnuts, known for their nutritional benefits and culinary versatility, are expected to see a steady rise in market demand. Additionally, innovations in product offerings, such as ready-to-eat hazelnut snacks and beverages, are anticipated to contribute significantly to market growth.

Hazelnut Industry Analysis

The hazelnut industry is characterized by a concentrated supply chain, where a few countries dominate production. Turkey leads the world in hazelnut production, followed by Italy and the United States. The market structure includes various stages, from farming through processing to distribution. With over 70% of the world's hazelnut supply coming from Turkey, the industry is sensitive to climatic changes and agricultural practices. Furthermore, several industry players are focusing on improving quality and expanding their product range to cater to diverse consumer needs.

Hazelnut Market Segmentation and Scope

The hazelnut market can be segmented into various categories, including product type (whole hazelnuts, sliced, chopped, and ground), application (food industry, cosmetic industry, and pharmaceutical), and distribution channels (online retail, supermarkets, and specialty stores). Each segment exhibits distinct growth potential, with whole hazelnuts dominating the market share due to their wide application in snacks and confectionery. The focus on health-oriented products has led to significant expansions in the food and cosmetic industry applications, further broadening the market's scope.

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Hazelnut Market Analysis Report by Region

Europe Hazelnut Market Report:

Europe is forecasted to maintain a robust market for hazelnuts, with the market size moving from USD 2.25 billion in 2023 to USD 3.28 billion by 2033. The preference for natural and organic ingredients in European countries, along with significant imports from Turkey, plays a crucial role in shaping the market scenario.

Asia Pacific Hazelnut Market Report:

In the Asia-Pacific region, the hazelnut market is expected to grow significantly, with market size projected to rise from USD 1.79 billion in 2023 to USD 2.61 billion in 2033. The increasing popularity of hazelnut-based products in countries like China and Japan is a major driver for this growth, alongside rising disposable income and a growing middle class that seeks premium snack options.

North America Hazelnut Market Report:

North America holds a substantial position in the hazelnut market, with a size expected to grow from USD 3.13 billion in 2023 to USD 4.58 billion by 2033. The region's demand for hazelnut products, especially in the confectionery and bakery sectors, along with the rise of health-conscious consumers, fuels growth.

South America Hazelnut Market Report:

The South American hazelnut market is projected to experience steady growth, with the market size expanding from USD 0.72 billion in 2023 to USD 1.05 billion by 2033. Brazil is increasingly adopting hazelnut production, further solidifying the market due to rising consumer interest in healthy snacks and desserts.

Middle East & Africa Hazelnut Market Report:

The Middle East and Africa region shows a steady but gradual increase in its hazelnut market, with expected growth from USD 1.22 billion in 2023 to USD 1.78 billion in 2033. The rise in health awareness and increasing utilization in confectionery applications are catalysts for market growth in this region.

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Hazelnut Market Analysis By Product

Global Hazelnut Market, By Product Market Analysis (2023 - 2033)

Whole Hazelnuts dominate the product segment, accounting for a market size of USD 5.82 billion in 2023 and projected to reach USD 8.50 billion by 2033. Sliced and chopped hazelnuts hold significant shares, catering primarily to the bakery and confectionery sectors, while ground hazelnuts are gaining popularity as healthy ingredient alternatives.

Hazelnut Market Analysis By Application

Global Hazelnut Market, By Application Market Analysis (2023 - 2033)

The food industry is the primary application segment, with a market size of USD 5.82 billion in 2023, expected to rise to USD 8.50 billion by 2033. The confectionery sector remains the largest consumer of hazelnuts, closely followed by snacks, which are witnessing a rise in demand due to the trend towards healthy snacking.

Hazelnut Market Analysis By Distribution Channel

Global Hazelnut Market, By Distribution Channel Market Analysis (2023 - 2033)

The distribution channel analysis reveals that online retail remains the leading segment in the hazelnut market, projected at USD 5.82 billion in 2023, growing to USD 8.50 billion by 2033. Supermarkets also play a crucial role, comprising 26.87% market share owing to consumers' preference for convenience shopping.

Hazelnut Market Analysis By Form

Global Hazelnut Market, By Form Market Analysis (2023 - 2033)

Whole hazelnuts account for a substantial proportion of market sales, maintaining a share of 63.92% in 2023, while other forms like sliced, chopped, and ground also cater to various culinary applications, showing respective steady growth trajectories.

Hazelnut Market Analysis By End User

Global Hazelnut Market, By End-User Industry Market Analysis (2023 - 2033)

The hazelnut market sees significant usage across various end-user industries, with the food industry leading at USD 5.82 billion in 2023. The growing interest in organic and health-focused products is expected to bolster demand across cosmetics and pharmaceutical sectors, indicating a diverse customer base.

Hazelnut Market Trends and Future Forecast

The hazelnut market is positioned for substantial growth over the next decade, bolstered by trends such as increased consumer focus on health and wellness, the rise of veganism, and a shift towards sustainable sourcing practices. The market is likely to face challenges such as climate fluctuations affecting production and competition from alternative nuts. Nevertheless, the anticipated CAGR of 6.4% indicates a robust outlook, as innovations in product offerings continue to attract diverse consumer segments, ensuring sustained demand in various industries.

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Global Market Leaders and Top Companies in Hazelnut Industry

Olam International:

Olam International is a global leader in the supply chain of agricultural products, including hazelnuts. Their sustainable sourcing practices and large-scale production capabilities make them a key player in the hazelnut market.

Genova S.r.l.:

Genova S.r.l. is recognized for its high-quality hazelnut products. They focus on innovation and quality, supplying both raw and processed hazelnuts to various markets around the world.

Ferrero:

Ferrero is one of the world's largest confectionery companies renowned for its use of hazelnuts in popular products such as Nutella. Their demand significantly drives the global hazelnut market.

Barry Callebaut:

Barry Callebaut is a leading chocolate and cocoa manufacturer that sources hazelnuts for their gourmet chocolate products, influencing trends in the hazelnut supply chain.

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