Global Hazelnut Market Size By Type (Processed Hazelnut, Unprocessed Hazelnut), By Application (Hazelnut-Based Foods, Hazelnut-Based Beverages), By Region, And Segment Forecasts, 2023 to 2032

The Global Hazelnut Market was valued at USD 8.5 billion in 2023 and is expected to reach USD 12.6 billion by 2031, growing at a CAGR of 5.1% during the forecast period from 2023 to 2031. The increasing demand for hazelnuts is driven by their versatility in the food and beverage industry, the growing popularity of plant-based diets, and the rising consumer awareness of the health benefits associated with hazelnut consumption. Hazelnuts are used extensively in confectionery, snacks, dairy alternatives, and spreads, fueling market growth globally.

Drivers

Growing Demand for Healthy Snacks: The rise in health-conscious consumers is driving the demand for hazelnuts as a healthy snacking option. They are rich in vitamins, minerals, and antioxidants, making them an ideal choice for functional foods.

Expanding Application in Food and Beverage: Hazelnuts are widely used in chocolates, spreads, and baked goods. The increasing adoption of nut-based ingredients in premium products is further boosting demand.

Increasing Adoption of Plant-Based Diets: With the shift towards veganism and plant-based diets, hazelnut-based milk and spreads are gaining traction in the market.

Restraints

Supply Chain Challenges: Fluctuations in hazelnut production due to climatic conditions and geopolitical factors can affect market stability.

High Cost of Raw Material: Hazelnuts are relatively expensive compared to other nuts, which can limit their consumption in price-sensitive markets.

Opportunity

Emerging Markets in Asia-Pacific: Growing disposable incomes and the popularity of Western dietary habits in Asia-Pacific present significant growth opportunities for the hazelnut market.

Innovation in Hazelnut-Based Products: The development of innovative products, such as hazelnut milk, butter, and confectionery, offers lucrative opportunities for market players.

Market by Type Insights

The Raw Hazelnuts segment dominated the market in 2023 due to its extensive application in confectionery and baking. The Roasted Hazelnuts segment is anticipated to register the highest growth during the forecast period, driven by increasing demand for ready-to-eat and gourmet snacks.

Market by End-Use Insights

The Food and Beverage industry accounted for the largest share of the market in 2023, driven by the extensive use of hazelnuts in chocolates, spreads, and baked goods. The Personal Care segment is expected to grow significantly due to the increasing use of hazelnut oil in cosmetics and skincare products.

Market by Regional Insights

Europe held the largest market share in 2023, driven by high production and consumption of hazelnuts in countries such as Turkey and Italy. The Asia-Pacific region is projected to exhibit the highest growth during the forecast period, owing to rising consumer awareness of hazelnut health benefits and the increasing demand for premium confectionery products.

Competitive Scenario

Key players in the Global Hazelnut Market include Ferrero Group, Olam International, Balsu Gida, Kerry Group, Puratos Group, Barry Callebaut, and Mars, Incorporated. These companies are focusing on product innovation, sustainability initiatives, and geographical expansion to strengthen their market position.

Scope of Work – Global Hazelnut Market

Key Market Developments

2023: Ferrero Group expanded its sustainable hazelnut sourcing program in Turkey to ensure traceability and quality.

2024: Olam International announced the launch of a new hazelnut processing facility in Asia-Pacific to cater to the growing demand in the region.

2025: Barry Callebaut introduced a new range of premium hazelnut-based ingredients targeting the gourmet confectionery market.

FAQs

What is the current market size of the Global Hazelnut Market?

The market was valued at USD 8.5 billion in 2023.

What is the major growth driver of the Global Hazelnut Market?

The growing demand for hazelnuts in the food and beverage industry, especially in chocolates and spreads, drives market growth.

Which is the largest region during the forecast period in the Global Hazelnut Market?

Europe held the largest market share in 2023 and is expected to maintain its dominance.

Which segment accounted for the largest market share in the Global Hazelnut Market?

The Food & Beverage segment dominated the market in 2023.

Who are the key market players in the Global Hazelnut Market?

Major players include Ferrero Group, Olam International, Barry Callebaut, and Mars, Incorporated.