Hazelnut Market 2024-32: Share, Size, Growth, Key Players and Forecast

IMARC Group's report titled "Hazelnut Market Report by Type (Whole Hazelnut, Hazelnut Oil, Hazelnut Flour, Hazelnut Paste, and Others), Application (Industrial, Food Service Industry, Household/Retail), and Region 2024-2032". The global hazelnut market size reached US$ 17,529.2 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 34,808.1 Million by 2032, exhibiting a growth rate (CAGR) of 7.92% during 2024-2032.

Factors Affecting the Growth of the Hazelnut Industry:

• Climatic Conditions and Agricultural Practices:

The growth of the hazelnut industry is heavily dependent on specific climatic conditions suited for hazelnut cultivation, making it sensitive to weather variations and climate change. Hazelnuts require a temperate climate with mild winters and cool summers to thrive. Changes in weather patterns, such as unexpected frosts or prolonged droughts, can significantly impact yield quality and volume. Additionally, the adoption of advanced agricultural techniques and proper orchard management plays a crucial role in maximizing production. Innovations in irrigation, pest control, and disease management can mitigate some environmental risks and enhance yield consistency. As growers adapt to climate variability and invest in efficient farming practices, the industry can achieve more stable growth despite the inherent challenges posed by its dependence on favorable weather conditions.

• Global Demand and Market Trends:

Increasing global demand for hazelnuts is a major driver of industry growth, fueled by their rising popularity in various food products and health and wellness trends. Hazelnuts are a key ingredient in chocolates, spreads (such as Nutella), baked goods, and healthy snack options, contributing to their robust market demand. The nut's nutritional profile, rich in protein, healthy fats, and antioxidants, aligns well with the growing consumer preference for healthier dietary choices. Moreover, the expansion of middle-class populations in emerging markets presents new opportunities for hazelnut consumption. As international cuisines become more integrated and the use of hazelnuts becomes more diversified in various culinary applications, the industry is likely to see sustained growth driven by both direct consumption and industrial food production.

• Trade Policies and International Relations:

Trade policies and international relations significantly influence the hazelnut industry, particularly because a large portion of the global hazelnut supply comes from specific regions, notably Turkey, which dominates the market. Tariffs, trade agreements, and geopolitical tensions can affect export conditions and pricing, impacting profitability for producers and affordability for consumers. For instance, favorable trade agreements can open new markets and reduce export costs, thereby boosting industry growth. Conversely, trade disputes or political instability in key producing regions can lead to supply disruptions, price volatility, and uncertainty for traders and buyers. Ensuring stable trade relations and developing diversified supply chains is crucial for the resilience and steady growth of the hazelnut industry in the global market.

Leading Companies Operating in the Global Hazelnut Industry:

• American Hazelnut Company
• Arslanturk S.A.
• Aydin Kuruyemi
• Azerstar LLC
• Barry Callebaut AG
• Chelmer Foods Ltd.
• Eurovanille
• Hazelz New Zealand
• Holmquist Hazelnut Orchards LLC
• Olam International Ltd.
• Oregon Hazelnut Company

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Hazelnut Market Report Segmentation:

By Type:

Hazelnut flour dominates the market due to its gluten-free property and rich flavor, making it a preferred ingredient in various culinary and baking applications, particularly among health-conscious consumers and those with dietary restrictions.

By Application:

Based on the application, the market has been segmented into industrial, food service industry, and household/retail.

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Global Hazelnut Market Trends:

The global hazelnut market is experiencing robust growth, driven by increasing consumer demand for healthy snacks and the widespread use of hazelnuts in the food industry. As a versatile ingredient, hazelnuts are integral to products like spreads, chocolates, and baked goods, benefiting from the popularity of brands like Nutella. Health-conscious consumers are also drawn to hazelnuts for their nutritional benefits, including high protein and healthy fat content. Geographically, Europe continues to lead the market, with Turkey being the largest producer. However, demand is rapidly rising in Asia-Pacific regions, driven by expanding middle-class populations and growing culinary influences. Additionally, sustainability and traceability are becoming key factors as consumers increasingly prefer ethically sourced and environmentally friendly products.

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