Adoption in Confectionary and Cosmetic Sectors Drives Demand for Hazelnuts

The global hazelnut market is set to expand at an impressive growth rate, owing to its strong flavor coupled with high nutritional quotient that propels adoption in diverse end-use segments. Furthermore, significant consumption in the food & beverage (F&B) segment is anticipated to remain the most prominent growth driver. For instance, hazelnuts find remarkable adoption in F&B industry in powdered, whitened, sliced, pureed, and minced forms.

Likewise, hazelnuts are used as essential ingredients owing to their flavor and taste in the preparation of various confectioneries, bakery products, frozen desserts, salads, and meals. These factors will continue to drive the global hazelnut market on a positive growth trajectory through the forecast period.

Nutritional Composition and Health Benefits Fuel Adoption in Cosmetic Industry

Low levels of sodium and cholesterol in hazelnut make it a natural remedy for numerous health issues such as celiac disease, skincare, and hair care. On this premise, hazelnut finds remarkable traction as an ingredient in hair care products, and is used as a carrier oil for aromatherapy or massage oils.

Along similar lines, hazelnut contains essential fatty acids and vitamins, which are known to act as skin nourishing elements, protecting against sun damage, and aid in increasing the production of collagen production. Backed by the nutritional composition, hazelnut is used in the production of cosmetic products, such as lotions, creams, soaps, massage oils, and facial oils, among others.

Burgeoning Consumption in Confectionery Sector Bestows Remunerative Opportunities

The chocolate industry has been significantly contributing to the growth of the hazel market, on the back of their strong taste and flavor. In addition to their taste, hazelnuts are enriched with vitamins B, E, and K, minerals, good fats, and proteins, thereby gaining traction as an ingredient in vegetarian products.

Moreover, players in the confectionery sector are extensively investing to scale-up the production capacity of hazelnut to bridge the gap between demand and supply. Also, a smooth supply chain ensures the quality and helps in maintaining the supply of hazelnut required for the production of their most popular confectionery products. On these lines, the confectionery industry is anticipated to remain the largest consumer of hazelnuts in the years to come.

Emerging Economies to Remain at Forefront of Global Market

Developing economies, such as South Asia and East Asia, are forecasted to bestow lucrative opportunities. The growth of hazelnut market in this region is also invigorated by macro-economic factors such as growing levels of disposable incomes and rampant urbanization. Backed by these factors, consumers are exhibiting willingness to purchase premium food products with hazelnuts, such as frozen and confectionery food items, thereby encouraging confectionery players to use high-quality hazelnuts.

On the other, surging adoption of hazelnut in cosmetic industry in North America and Europe, which cumulatively hold the lion's share in global cosmetic industry is anticipated to impel the market revenue in these regions. However, fluctuating climatic conditions in these regions are restricting the growth of hazelnut market to a certain extent.

Competitive Landscape of Global Hazelnut Market

Some of the major players in the global hazelnut market are Balsu Gida, Chelmer Foods, Kanegrade, Olam International, Oregon Hazelnuts, Aydin Kuruyemis, GEONUTS, Pazar, Hazelnut Manufacturing and Exporting Company, Poyraz Tarimsal. In 2016, Agri Australis, the Australian arm of Italian food giant Ferrero Group, invested US$ 70 Mn into hazelnut production project situated in the Riverina, Australia.

Along similar lines, Ferrero Group, also invested US$ 119 Mn into a hazelnut production project in Turkey, to ensure a high-quality and continuous supply of hazelnuts. Such developments will continue to drive the global hazelnut market on a positive growth trajectory.