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The hazelnut market size is forecast to increase by USD 2.31 billion at a CAGR of 8.51% between 2023 and 2028. The market is experiencing significant growth due to increasing consumer awareness about health and nutrition, leading to a swell in demand for hazelnut milk. This trend is particularly prominent in regions such as Ordu, Samsun, Giresun, Sakarya, and Düzce in Turkey, which are major producers of hazelnuts. Food companies in the United States, including Hershey India and The Hershey Company, are capitalizing on this trend by incorporating hazelnuts into their product offerings. However, it is essential to note that hazelnuts are a potential source of allergens, posing a challenge for food manufacturers in ensuring product safety and compliance with regulatory standards. Ferrero and other industry players must navigate these challenges while continuing to innovate and meet consumer demand for hazelnut-based products.
The market is witnessing significant growth due to the increasing demand for healthier food options and the rising popularity of chocolate confectionery products. The key regions contributing to the market's growth include Turkey, Italy, and other European countries. Hershey Company, based in the United States, and Ferrero, an Italian-German multinational, are among the major players in the market. Hershey India, a subsidiary of Hershey Company, imports hazelnuts primarily from Turkey, specifically from cities like Ordu and Samsun. In Europe, countries like Italy, particularly the regions of Piemonte, Sakarya, Düzce, and others, are known for their high-quality hazelnuts, including the Tonda di Giffoni and Tonda Rossa varieties. These regions account for a significant portion of the global hazelnut production. Ferrero, renowned for its Nutella, Ferrero Rocher, Kinder Bueno, and other popular chocolate brands, is another significant player in the market. The company sources hazelnuts from various origins, including those mentioned above, to produce its wide range of chocolate products. Hazelnuts are rich in essential nutrients like fiber and healthy fats, making them a popular choice for food companies to incorporate into their products. The increasing health consciousness among consumers is further driving the market's growth.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The processed hazelnut segment is estimated to witness significant growth during the forecast period. The market for processed hazelnuts, including popular brands like Nutella, Ferrero Rocher, and Kinder Bueno, is experiencing significant growth and is anticipated to continue expanding throughout the forecast period. Processed hazelnuts, which include blanched, roasted, diced, and powdered varieties, cater to diverse consumer tastes and requirements. These products are readily available in various retail channels, including supermarkets, hypermarkets, and e-commerce platforms, making them convenient for consumers. The increasing popularity of snacking among consumers is driving the demand for processed hazelnuts. Furthermore, the emergence of private label brands and the expansion of supermarkets and hypermarkets offering processed hazelnuts are expected to accelerate the growth of this market segment.
The primary sources of processed hazelnuts are Corylus avellana, specifically Tonda di Giffoni and Tonda Rossa varieties, which are native to Piemonte, Italy. These nuts are rich in fiber and healthy fats, making them a popular choice for consumers seeking nutritious snacking options.
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The processed hazelnut segment accounted for USD 2.27 billion in 2018 and showed a gradual increase during the forecast period.
Europe is estimated to contribute 55% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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Europe holds the leading position in the global consumption of hazelnuts, primarily due to their widespread availability and affordable pricing. Key European countries, including Italy, Turkey, Germany, France, Spain, Switzerland, Poland, and Belgium, are significant consumers of hazelnuts. Europe is also the largest producer and exporter of hazelnuts worldwide. Notable hazelnut producers and manufacturers, such as Olam International, Balsu Gida, and Chelmer Foods, are based in Europe. Turkey, Germany, Italy, Belgium, and Switzerland are prominent exporters of hazelnuts, with Turkey being the largest producer globally. The local production of hazelnuts in Europe contributes to their affordability and accessibility. Hazelnuts, a popular ingredient in various food products, are sourced from the Corylus avellana tree, specifically from the Tonda di Giffoni and Tonda Rossa varieties. These nuts are rich in fiber and healthy fats. Well-known brands like Nutella, Ferrero Rocher, and Kinder Bueno incorporate hazelnuts into their popular confections. The European market for hazelnuts continues to thrive, driven by the demand for these nutritious and versatile nuts.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increased awareness about health and nutrition is the key driver of the market. The Hershey Company, through its subsidiary Hershey India, sources hazelnuts from various regions including Ordu, Samsun, Giresun, Sakarya, and Düzce in Turkey. These regions are known for their high-quality hazelnut production. Hazelnuts are a rich source of essential nutrients such as vitamins, folate, protein, and antioxidants. Folate, a B vitamin, is crucial for pregnant women as it helps prevent neural tube defects in developing fetuses. Antioxidants present in hazelnuts aid in disease prevention, including cancer and diabetes. One such antioxidant is Beta-sitosterol, a plant sterol found in hazelnuts, which inhibits the growth of breast cancer cells. Additionally, hazelnuts contain manganese, vitamin E, and thiamine, which contribute to improved brain function and reduced risk of neurodegenerative diseases.
Furthermore, these nuts help regulate bad cholesterol levels, thereby reducing the risk of cardiovascular diseases. Food companies such as Ferrero, Hershey, and others, incorporate hazelnuts into various products due to their health benefits.
Growing demand for hazelnut milk is the upcoming trend in the market. The Hershey Company, an esteemed name in the US confectionery industry, has expanded its horizons by investing in Hazelnut production in regions such as Ordu, Samsun, Giresun, Sakarya, and Düzce in Turkey. These areas are known for their high-quality Hazelnuts. The Hershey India division is expected to benefit significantly from this venture. Food companies like Hershey and Ferrero are increasingly focusing on the production and consumption of Hazelnut milk. This plant-based alternative to dairy milk boasts a mild, sweet, and nutty taste, making it a popular choice among consumers. It is rich in vitamins B1, B2, B6, and E, antioxidants, and proteins, with a low-fat content, making it an ideal option for those with dietary restrictions.
Gluten-free, soy-free, and lactose-free, Hazelnut milk is also beneficial for preventing anemia, cancer, and heart disease. Its versatility extends beyond cereals, as it can also be used as a hot beverage or to enhance the flavor of coffee, providing a sweet, nutty undertone instead of the bitterness often associated with almond milk. Manufacturers like Pacific Foods and Alpro offer a variety of flavors to cater to diverse consumer preferences.
The potential source of allergens is a key challenge affecting the market growth. The market in the US is influenced by various factors, including the presence of major food companies such as Hershey India, a subsidiary of The Hershey Company, and Ferrero. However, the market growth may be restrained due to the prevalence of hazelnut allergies.
According to Health Canada, tree nut allergies, including those to hazelnuts, are common in both children and adults in the US and globally. An estimated 0.5% of adults and 0.2% of children in the US have tree nut allergies. Anaphylaxis, a potentially life-threatening allergic reaction, is more common among infants and young children with tree nut allergies.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Arslanturk Agricultural Products: The company offers hazelnuts such as inshell, natural, sliced, diced hazelnuts.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is experiencing significant growth due to the increasing demand for healthier food options and the rising popularity of chocolate products. Hershey Company and Ferrero are among the leading food companies utilizing hazelnuts in their confectionery business, producing items like Hershey India's chocolate bars and Ferrero Rocher and Nutella spreads. Hazelnuts are primarily sourced from regions such as Ordu, Samsun, Giresun, Sakarya, and Düzce in Turkey, as well as Piemonte in Italy. These nuts are rich in essential nutrients like fiber, healthy fats, protein, vitamin E, and antioxidants. The nutritional supplement industry has also shown interest in hazelnuts due to their high content of manganese, thiamine, and other essential minerals and vitamins. The pandemic has led to a shift in consumer preferences towards organic food and healthier options, further boosting the demand for hazelnuts.
However, challenges such as supply chain disruptions, worker safety issues, and unnatural product trends have impacted raw material prices and led to high pricing in the market. Climate uncertainties and rising competition from industries like frozen non-vegetarian food, fruits, vegetables, eggs, legumes, and whole grains also pose challenges to the growth of The market. Dietitians and nutritionists recommend hazelnuts for their heart-healthy benefits, as they contain oleic acid, polyphenols, and other beneficial compounds that help reduce the risk of cardiovascular disease and colon cancer. The versatility of hazelnuts extends to various industries, including the confectionery business, cosmetic products, and industrialization, making them a valuable commodity in the food industry.
Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.51% |
Market Growth 2024-2028 |
USD 2.31 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.67 |
Regional analysis |
Europe, Middle East and Africa, North America, APAC, and South America |
Performing market contribution |
Europe at 55% |
Key countries |
Italy, Germany, Turkey, France, and US |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
American Hazelnut Co., Apex Flavors Inc., Arslanturk Agricultural Products, Aydin Kuruyemis Sanayii ve Ticaret A.S., AZERSTAR LLC, Balsu Gida Sanayi Ve Ricaret AS, BlissOfEarth, Bostons Best Coffee Roasters Inc., Chelmer Foods Ltd., E.A. Weber and Co., Ferrero International S.A., Holmquist Hazelnut Orchards LLC, Kanegrade Ltd., McCormick and Co. Inc., Namo Organics, NorthStar LLC, Northwest Hazelnut Co., Olam Group Ltd., Oregon Hazelnuts, and Royal Dry Fruits Pvt. Ltd. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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