The hazelnut market, which was valued at USD 14944.61 million in 2021, is anticipated to grow at a CAGR of 8.8% from 2022 to 2029 to reach USD 29343.76 million. The extensive expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis, and consumer behaviour performed by the Data Bridge Market Research team are all included in the market study.
In the vast market for hazelnuts To better comprehend the market and potential future issues, macro-level industry trends are summarised in study reports. This market report is the product of many hours put forth by expert forecasters, imaginative analysts, and astute researchers who engaged in careful and in-depth research on several markets, trends, and new opportunities in the sequential direction for the corporate demands.
The report evaluates anticipated market forces, market restraints, competitive tactics, and forecasts of the CAGR value’s rise or fall over a specific predicted time period. Businesses may make informed, strategic, and ultimately successful decisions with the help of the trustworthy hazelnut market business research.
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Hazelnut Market Dynamics
Drivers
Rising demand from the various end user industries
Increasing consumer demand for hazelnut products due to their pleasant flavour, rising demand for various hazelnut essence products, rising preferences for organic products, increased use of hazelnut extracts in various applications such as pharmaceuticals and food and beverage, and utilisation of hazelnut beans in medical applications are some of the determinants favouring the growth of the hazelnut market during the forecast period.
Rising health awareness among the general population
Due to its ability to enrich essence and appreciation in a variety of food commodities, the emerging liquor and food manufacturing industry will play an important role. Furthermore, it combines low calorie value and presence of variety of anti-oxidants which will rise its demand for the health conscious population
Opportunity
The emergence of new food and beverage-related markets, an increase in demand for organic malt ingredients and extracts, and the growing popularity of natural flavours all contribute to the expansion of profitable opportunities.
COVID-19 Impact on Hazelnut Market
The global market has seen a rapid surge in the ongoing trend for products developed with natural ingredients, as the COVID-19. This has created a significant growth opportunity for the natural hazelnut segment globally, primarily for use in functional foods and beverages. Furthermore, Hazelnut production is labour-intensive, particularly during harvest and post-harvest periods. As a result, they rely on seasonal workers, many of whom are migrants. COVID-19 had an effect on these employees. They may face serious health risks, for example, if their temporary living conditions do not meet strict sanitary standards and there is social distancing.
Global Hazelnut Market Scope
Category
- Organic
- Conventional
Shape
- Round Kernels
- Almond Kernels
- Pointed Kernels
- Others
Form
- Whole/In-Shell Hazelnut
- Natural Hazelnut
- Diced Hazelnut
- Paste Hazelnut
- Blanched Hazelnut
- Others
Origin
- Akcakoca
- Levant
- Giresun
- Others
Packaging
- Vacuum & Cartons Box
- Bags
- Pouches
- Plastic Or Metal Drums
- Others
Application
- Industrial
- Food Service Industry
- Household/Retail
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Hazelnut Market Regional Analysis/Insights
The countries covered in the hazelnut market report are:
Asia-Pacific is the most appealing market for hazelnut market, with tremendous growth potential in the coming years. One of the key driving factors for the growth of the Asia-Pacific hazelnut market is the expansion of the food and beverage industry. Rising demand from emerging markets such as China, India, and Indonesia, will drive the hazelnut market over the forecast period.
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