The global hazelnut market has experienced a significant growth, and is anticipated to witness similar trend in next few years. Hazelnut is also known as filbert nut or cobnut, which belongs to the species Corylusavellana. Different forms of hazelnut are being sold in the market such as hazelnut oil, hazelnut paste, and hazelnut flour. Many types of hazelnut being sold in the market; for example, beaked hazelnut is a small thick-shelled nut, and is highly adaptable in nature. It exhibits high resistance to EFB disease. American hazelnuts are well-adapted to the climate of America, and are high-quality nuts. European hazelnut,also known as Corylusavellana, is a native species of western Asia and Europe. When mature, the nut comes out of the husk around seven or eight months after pollination. The seed kernel is edible, often used either raw or fried, or cooked to make paste. The seed has a thin, dark brown surface that is commonly stripped before cooking.
COVID-19 Scenario Analysis
- The worldwide outbreak of COVID-19 has led to serious consequences in all the economic sectors. The COVID-19 outbreak has created medical emergency, due to which the demand for food items, hygiene products, and medical productsis increasing. Moreover, during this pandemic, the sales of traditional, healthy, and staple food items has increased considerably. Frozen non-veg food, fruits& vegetables, eggs, pulses, flour, and whole grains are further experiencing increased demand. However, nonessential products such as packaged foods, coffee, pastries, milkshakes, sweets, chocolates, cheese, and other bakery products have witnessed decline in their sale. In addition, lockdown imposed across various countries has hampered the production and supply chain of hazelnut manufacturers. Furthermore, the consumer buying behavior may change permanently post COVID-19. On the contrary, companies have to build robust sales plan for recovery; for instance, they might have to adopt e-commerce platform and Omni channel in their supply chain.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Increase in awareness about various health benefits offered by hazelnut is the key factor driving the market growth. Hazelnuthas vitamin E, fiber, fat, and protein. In addition, it consist of antioxidants, which help in reducing skin disorder and prevent cell damage linked to cancer. Moreover, it is rich in fiber, which helps in blood sugar control, enhances the digestive system, and prevents constipation. Pecans
The organically grown hazelnut is expected to dominate the market during the projected years, due to increase in awareness about health benefits offered by organic food.
Wide usage of hazelnut in food &beverage, cosmetic &personal care, pharmaceutical, and dietary supplements industries is supporting the market to remain profitable in coming years.
The global hazelnut market trends are as follows:
New Product Launches to Flourish the Market
- Food &beverage companies are introducing new range of hazelnut snacks in the market to serve the increasing demand. For instance, in March 2019, Cadbury Dairy Milk Silk launched Novelty - Silk Hazelnut chocolate with whole Turkish hazelnuts. In addition, to serve the increasing demand of organic food and beverages, farmers are engaged in producing organic hazelnut.
Key Benefits of the Report
- This study presents the analytical depiction of the global hazelnut industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global hazelnut market share.
- The current market is quantitatively analyzed to highlight the global hazelnut market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Global Hazelnut Market Research Report
- Which are the leading players active in the global hazelnutmarket?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
Hazelnut Market Report Highlights
By Distribution Channel
Key Market Players
American Hazelnut Company, Olam International, DurakFindik, Karimex Nuts, Arslanturk S.A., DeveHerbes, Holmquist Hazelnut Orchards, LLC, Azerstar LLC, Hazelz New Zealand