Hazelnut Market to Perceive Remarkable Growth by, Trends, Demand, Segmentations

24 February 2023

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.

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.

Insights on market segmentation, revenue forecasts, and international market regions are also provided by the research, all of which support business expansion. Current market trends and industry data are provided by the hazelnut market study, enabling the identification of the products and end users driving revenue growth and profitability.

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.

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Some of the major players operating in the hazelnut market are:

Amadeus Trading Co. (U.S.)
Apex Flavors Inc. (U.S.)
Boston Hazelnut Bean Company (U.S.)
Charles H. Baldwin and Sons (U.S.)
Daintree Hazelnut and Spice (Australia)
E.A. Weber and Co. (U.S.)
Eurovanille (France)
Lochhead Manufacturing Company (U.S.)
MacTaggarts Brand (U.S.)
McCormick and Company Inc (U.S.)
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

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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