Hazelnut Market Share Estimated to Reach USD 19.60 Billion by 2030

The Hazelnut Market Share was worth USD 10.93 billion in 2023 and is projected to be USD 19.60 billion by 2030, growing at a CAGR of 8.7% from 2024 to 2030. The growth of the hazelnut industry is influenced by the high demand for hazelnuts in confectionery products as well as the rising consumer awareness of health benefits associated with, and increasing use of, hazelnut-based products.

Factors Driving & Opportunities for Growth in the Market

Hazelnuts contain oil, protein, and fiber and are a source of omega-3 fatty acids that help provide numerous cardiovascular benefits and may reduce the risk of cardiovascular disease. Because of their health benefits, this trend of eating hazelnuts is on the rise. In addition, the hazelnut type is more consumed in the food and beverage industry, and commonly used in the production of dairy, bakery, candy, and chocolate products. About 80% of global hazelnut supply goes into chocolate, 15% into cakes, biscuits and sweets, and 5% as snacks. The extensive usage of hazelnut in the food industry delivers lucrative growth opportunities of the hazelnut market.

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Segmentation Analysis

The segmentation of the hazelnut market is based on — type, form, application, distribution channel, and region.

According to the type, the market is divided into raw hazelnuts, roasted hazelnuts and hazelnut products like pastes and oils. Due to their improved taste, roasted hazelnut is widely popular among confectionery applications.

by Form: Depending on the cooking demand, raw, chopped, and powdered hazelnuts can be sold.

by Application: Hazelnuts usually have the largest application in the confectionery industry followed by dairy, bakery and snacks.

by Distribution Channel: Hazelnuts are distributed in the market by direct sales, supermarkets and hypermarkets, specialty stores, and online. Rising trend of shopping over the internet is anticipated to lead to the growth of online sales segment.

Regional Insights

The hazelnut market can be segmented into North America, Europe, Asia Pacific, and the Middle East & Africa and South America.

Europe : Europe is the top producer as well as consumer of hazelnut ingredient producers especially from Turkey, Italy and Spain. This regional market experiences remarkable growth due to the high consumption of hazelnuts in the European confectionery sector.

North America: The North America market is growing owing to increasing consumer preferences towards hazelnut flavor based products and product enriched with health benefits.

Asia Pacific– The Asia Pacific market is showing a trend of increased consumption for hazelnuts owing to the growing confectionery industry and changing eating habits.

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Competitor Analysis

Introduction & Overview The hazelnut market is highly competitive due to the presence of major market players who are engaged in product launch which enhances the market presence of individual hazelnut market player. Notable companies include:

Ferrero Group: Ferrero makes use of around 25% of the planet's hazelnuts as this world-famous spread (Nutella) is the biggest user of hazelnuts.

Olam International : As a top-tier agribusiness, Olam sources, processes, and distributes hazelnuts for different industry sectors around the globe.

The hazelnut based products offered by BASF for food and beverage industry places high emphasis on quality and sustainability.

Kraft Heinz Company — With its brands, Kraft Heinz takes advantage of the hazelnut's appeal in a variety of confectionery and snack products.

Good luck: — Barry Callebaut — A global leader in chocolate and cocoa, Barry Callebaut uses hazelnuts in its chocolate offerings, serving manufacturers and consumers.

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Conclusion

The global hazelnut market is expected to increase at a notable rate in the years to come due to the high demand for hazelnuts in the confectionery industry as well as the health benefits associated with hazelnuts. The hazelnut market offers great potential for innovation and bundle with the right product as per the changing needs of consumer towards healthier and tastier food choices.

Explore More: Visit our website for Additional reports:

Hazelnut Oil Market https://www.maximizemarketresearch.com/market-report/global-hazelnut-oil-market/78968/ 

Nut Oil Market https://www.maximizemarketresearch.com/market-report/nut-oil-market/193892/ 

Nuts Market https://www.maximizemarketresearch.com/market-report/nuts-market/187767/ 

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