Hazelnuts are the nuts obtained from the hazel tree and can be found whole, raw, ground, sliced, or roasted. Hazelnuts are used primarily as a snack or added to baked goods. According to the International Nut and Dried Fruit Council, Hazelnut production has shown a rise in growth of 21% in 2021 and is estimated to increase between 1% to 5% in the upcoming years. Hazelnuts add taste and flavor to the chocolate truffles and are ground into flour for biscuits, and cakes. Furthermore, when compared to peanut butter, Chocolate-hazelnut spreads are majorly used, and numerous versions of this spread are available in supermarkets. Hazelnuts are also used as an ingredient in confectionery such as chocolate, breakfast cereals, nougat cookies, chopped nuts, pralines, nut spreads, and processed formulations. Hazelnut oil is used extensively for aromatherapy and massage purposes, as well as in various hair care products. Owing to the presence of essential skincare elements, hazelnut is also used widely in the preparation of soaps, facial oils, lotions, creams, and many more, which further drives the growth of the hazelnut market.
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Top Market Players Covered in the Hazelnut Market:
Balsu Gida (Turkey), Chelmer Foods (North Essex), Kane grade (U.K), Olam International (Singapore), Oregon Hazelnuts (U.S.), Aydin Kuruyemis (Istanbul), GEONUTS (Georgia), Poyraz Tarimsal (Istanbul), Barry Callebaut AG (Switzerland), Arslantürk (Turkey), Karimex (Brazil), Gursoy Tarimsal Urunler Gida (Turkey), Fruits of Turkey (Turkey), BATA Food (Turkey), Durak Findik (Turkey), and other major players.
The global Global Hazelnut Market Research investigates the market in-depth and offers a comprehensive analysis of the major growth determinants, Global Hazelnut Market share, current trends, key players, and their future predictions. In addition, market demand and supply, each geographical region's growth rate, and market potential are all included in the Global Hazelnut Market study. Raw materials, marketing channels, client surveys, industry trends and proposals, CAGR status, product scope, Global Hazelnut market trends, major leading countries/regions, market risk, and market driving force are all included in the market research. The market prediction was based on a thorough market investigation completed by several industry experts
Segmentation Analysis of the Global Hazelnut Market Report:
Here are some common segmentation criteria for the Hazelnut Market:
By Type
· Processed Hazelnuts
· Unprocessed Hazelnuts
By Application
· Hazelnut-based Foods & Beverages
· Hazelnut Oil
· Pharmaceutical
· Cosmetics
By Distribution Channel
· Online
· Offline
Market share data Market Segment by Regions and Countries Level Analysis:
§ North America (U.S., Canada, Mexico)
§ Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
§ Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
§ Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
§ Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
§ South America (Brazil, Argentina, Rest of SA)
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Opportunities:
Lucrative Opportunity for Premium Products and Exotic Ingredients in the Urban Population
Demand for hazelnuts is expected to witness a rapid increase among various end-use industries. The increase in urbanization and disposable incomes have led to a rapid rise in the market growth of premium products and further provided a profitable opportunity for hazelnut products to grow at a faster rate, especially, in the North American and European regions. Consumers in the regions are willing to pay premium prices for products with exotic ingredients including frozen and confectionery products. The inclination toward products such as chocolates, muffins, cakes, pastries, praline, and ice cream that contain hazelnuts is also expected to grow rapidly in the South Asian regions. Furthermore, the key manufacturers of these products consistently bring innovative products to the market that generate a lucrative opportunity for hazelnut market growth. For instance, M&M recently launched its Hazelnut Spread Chocolate Candies which features a hazelnut spread center covered in delicious milk chocolate, and showed immense growth from the millennials and urban population immediately after the launch.
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