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What is the Expected Growth Rate of the Hazelnut Market from 2024 to 2033?

The hazelnut market has shown strong growth, projected to rise from $13.89 billion in 2023 to $15.11 billion in 2024, representing a CAGR of 8.8%. The growth can be attributed to increasing health awareness, the rise of the snack food sector, the expansion of hazelnut cultivation, growing consumer demand for hazelnuts, and shifts in consumer preferences towards plant-based diets.

The hazelnut market is expected to grow steadily, reaching $21.23 billion by 2028 with a CAGR of 8.9%. The growth is driven by the increasing awareness of sustainable farming practices, the expansion of e-commerce, climate change adaptation, online grocery shopping, and higher hazelnut consumption. Key trends include advancements in farming techniques, increased demand for organic products, and the growth of sustainable sourcing.

 

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What Key Factors Are Fueling the Growth of the Hazelnut Market?

Hazelnut Market Growth The growing adoption of plant-based diets is expected to drive the expansion of the hazelnut market. These diets primarily focus on plant-derived foods such as fruits, vegetables, grains, legumes, nuts, and seeds. The rising popularity of plant-based eating is fueled by factors like increased health awareness, concerns about climate change, animal welfare, and a wider availability of plant-based products. Hazelnuts are packed with antioxidants, healthy fats, and essential nutrients, which may help reduce oxidative stress and inflammation, potentially supporting brain health for those affected by Parkinson’s disease. According to the Plant Based Foods Association (PBFA) in April 2023, plant-based food sales in the U.S. grew by 6.6% in 2022, up from 5.9% in 2021, with 70% of the U.S. population consuming plant-based foods—an increase from 66% the previous year.

 

What Are the Major Segments of the Hazelnut Market?

1) By Type: Whole Hazelnut, Hazelnut Oil, Hazelnut Flour, Hazelnut Paste, Other Types

2) By Form: Roasted, Unroasted

3) By Distribution Channel: Online, Offline

4) By Application: Personal Care And Cosmetics, Pharmaceutical Industry, Food And Beverages, Other Applications

 

What New Trends Are Transforming the Hazelnut Market?

Companies in the hazelnut market are focused on developing innovative snacks and spreads to enhance flavor profiles, improve nutritional value, and cater to consumer demand for healthier, sustainable options. Snacks and spreads are convenient food items, with snacks being bite-sized treats and spreads used to enhance other foods. For example, in October 2023, Otto’s Nuts, a US-based snack company, launched Turkish coffee and cocoa-coated hazelnut snacks and spreads. These products combine the taste of hazelnuts with popular beverages, aiming to provide consumers with unique flavor experiences while offering the nutritional benefits of hazelnuts, such as healthy fats, fiber, and protein.

 

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Which Regions Are Driving Growth in the Hazelnut Market?

Europe was the largest region in the hazelnut market in 2023 and it is expected to be the fastest-growing region in the forecast period. The regions covered in the hazelnut market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Hazelnut Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the hazelnut market, its market share, and analyzes key competitors along with their market positions.

 

The Table Of Content For The Hazelnut Market Include

1. Hazelnut Market Executive Summary

2. Hazelnut Market Segments

3. Hazelnut Market Size And Template Market Growth Rate

4. Key Hazelnut Market Trends

5. Major Hazelnut Market Drivers

……

25. Key Mergers And Acquisitions In The Hazelnut Market

26. Top Hazelnut Companies

27. Hazelnut Market Opportunities And Strategies

28. Hazelnut Market, Conclusions And Recommendations

29. Appendix

 

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