Global Hazelnuts Market: Overview
Hazelnuts are rich in vitamins B, E, and K and have a high nutritional value. Hazelnut is a suitable ingredient in vegetarian products since it offers minerals, healthy fats, and proteins in addition to these vitamins. It can also reduce cholesterol levels and has a low salt content. Hazelnut consumption is regarded as one of the natural treatments for treating a number of human health conditions, including celiac disease. can also be used to promote weight loss.
Due to these qualities, it is a versatile component with numerous uses in a variety of sectors. Hazelnut, for instance, is used extensively in both culinary and beverage applications and comes in powdered, whitened, sliced, pureed, and chopped forms. Hazelnuts are utilised as a supplementary component while making a variety of pastries, bakery goods, frozen desserts, salads, and dinners. Currently, hazelnut oil is utilised in hair care products and as a carrier oil for massage or aromatherapy oils. Because it includes vitamins and vital fatty acids, which are known as skin-nourishing ingredients and protect against UV damage while boosting collagen synthesis, hazelnut oil can also be used as a skin care product. as an example.
The major hazelnut user in recent years is the chocolate sector. Nevertheless, the hazelnut production supply and demand mismatch will hurt the bottom lines of major chocolate manufacturers like Ferrero, Nestlé, and Cadbury. For instance, the hazelnut yield in 2014 was impacted by climate unpredictability, which resulted in a drop in productivity and ultimately had an impact on these huge firms worldwide. Due to a lack of supply, hazelnut prices have climbed by more than 60% over the past ten years. Confectioners must quickly discover alternatives to hazelnut as a result.
To combat the shortage, confectioners are spending more to increase hazelnut production. Additionally, they are able to do this while maintaining the high standards and steady supply of hazelnuts needed to make their most well-liked confectionery items. The Australian subsidiary of the multinational Italian food company Ferrero Group, Agri Australis, committed US$70 million in an Australian hazelnut producing project in the Riverina in 2016. To guarantee a high-quality and consistent supply of hazelnuts, the Ferrero Group, a well-known confectionary food firm, invested US$ 119 M in a hazelnut production project in Turkey.
Leading food firm Mondelez International invested US$25 Mn to increase manufacturing capacity at its plant in Turkey by 20%.
The worldwide hazelnut market is expanding as hazelnut is being used more frequently in various cosmetic goods. Together, North America and Europe account for the largest portion of the hazelnut and cosmetic industries. Over the projected period, it is also anticipated that these nations’ developing cosmetic industries will increase demand for hazelnuts. Hazelnut consumption is rising across a range of end-use industries, which is good news for the producers involved in the worldwide hazelnut market. The hazelnut market, however, is not operating at its full capacity due to climate concerns.
Global Hazelnuts Market: Major Players
Pazar Hazelnut Manufacturing and Exporting Company
Global Hazelnuts Market: Types
Global Hazelnuts Market: Applications
Hazelnut-based Foods and Beverages
With regard to the global hazelnut market, emerging nations in the South Asian and East Asian regions are predicted to see strong growth rates in 2019 and the near future. The hazelnut market is expanding in these areas due to rising disposable incomes and urbanisation. For rare goods like frozen food and confectionary, consumers are willing to pay premium rates. Manufacturers in the South Asian and East Asian regions stand to gain from consumers’ growing preference for goods with exotic ingredients like hazelnut, including ice cream and chocolates.