Hazelnut Market Size (2024 - 2029)

Hazelnut Market Analysis

The Hazelnut Market size is estimated at USD 512.62 million in 2024, and is expected to reach USD 756.70 million by 2029, growing at a CAGR of 8.10% during the forecast period (2024-2029).

• Nuts, included in most healthy dietary patterns, are characterized by high energy density due to their high lipid content. Hazelnuts are a rich dietary source of protein, unsaturated fatty acids, and linoleic acid. It contains a higher alpha-tocopherol (vitamin E) concentration than other nuts. The consumption of hazelnuts may also help regulate immunologic and inflammatory responses. Hence, the demand for hazelnuts is anticipated to increase in the future.
• Research shows that consuming hazelnuts can lower LDL (bad) cholesterol and increase HDL (good) cholesterol, increasing sales. Hazelnuts are employed in various sectors, including food, beverage, oil, and cosmetics. They are used in desserts, such as cakes, muffins, chocolate dishes, praline, or pastries. Additionally, as it contains essential skin care elements, it is also used to make a variety of cosmetics, including lotions, soaps, creams, facial oils, and massage oils. The increased application of hazelnuts is expected to increase the demand.
• Along with the increasing demand and increased application for the product, various producers are entering the market with innovative products. For instance, in September 2022, Hershey India, a part of the Hershey Company, a leading global snacking giant and the largest producer of quality chocolates in North America, launched a new variant of Hershey's Kisses called Hazelnut 'n' Cookies under a unique platform, 'Nutty-For-You,' to enable consumers to express their emotions to their loved ones. This type of product innovation caters to the growth of the market.
• Moreover, according to the Food and Agriculture Organization (FAO), the production and export of hazelnuts are high in Turkey. The production volume in Turkey accounted for 665,000 metric tons in 2020, which increased by 765,000 metric tons in 2022, and the provinces of Ordu, Samsun, and Giresun produced the majority of the world's hazelnuts, while Sakarya and Düzce produce them at a high rate.
• In terms of consumption, Europe is likely to register the highest growth due to the increasing demand for hazelnuts from the European chocolate industries. Additionally, as per ITC trade, in 2023, the major import destinations of hazelnuts were Italy, Germany, Spain, and France, with 42.2%, 6.5%, 3.2%, and 1.9% import share, respectively. Therefore, with increasing consumer demand and high health benefits, the market is anticipated to grow during the forecast period.

Hazelnut Industry Segmentation

Hazelnut is derived from the species of the genus Corylus. Hazelnuts are sold unshelled, as whole, diced, sliced, or ground kernels. 

The hazelnut market is segmented by geography (North America, Europe, Asia-Pacific, South America, and Africa). The report covers the production (volume), consumption (volume and value), import (volume and value), export (volume and value), and price trend analysis. The report offers market estimation and forecasts in value (USD) and volume (metric tons).