Worldwide Hazelnut Market Analysis & Projections (2019-2024): In Terms of Consumption, Europe is Expected to Register the Highest CAGR, at 7.6%
DUBLIN, July 11, 2019 /PRNewswire/ -- The "Global Hazelnut Market - Growth, Trends and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The global hazelnut consumption was valued at USD 0.52 billion in 2018, registering a CAGR of 10.1% during the forecast period (2019-2024).
Turkey dominates the hazelnut production, with an estimated share of 67.1%, and a consumption share of 52.3%, globally. In terms of consumption, Europe is expected to register the highest CAGR of 7.6% during the forecast period, due to the increasing demand for hazelnuts from the chocolate industries of Europe.
With increasing demand from consumers and high health benefits, the market is expected to grow over the forecast period. Research studies show that consuming hazelnuts can lower LDL (bad) cholesterol and increase HDL (good) cholesterol, which is increasing the sales of hazelnut.
In Australia, hazelnuts are mostly used in desserts, such as cakes, muffins, chocolate dishes, praline, or pastries. Buhler, the world's largest provider of nut processing technology, had announced that it expanded into the natural hazelnut market in May 2018, with the Turkish launch of its innovative combination of sorting technologies, leading to natural hazelnut processing systems.
Key Market Trends
High Demand in the Chocolate Industry
Chocolate manufacturers are re-introducing their signature products with hazelnut-incorporated product lines, which are coming out as an innovation in taste in the global confectionery market.
Lindt recently launched a chocolate spread made with 40% hazelnut in the UK market, in 2018. The spread is likely to be available in other European countries, even though its launch happened in the United Kingdom.
M&M'S Hazelnut Spread Chocolate Candies feature a hazelnut spread center covered in delicious milk chocolate, and it is expected to be available across the aworld in April 2019.
Nutella has become a food phenomenon around the world, with Nutella heists, a fan-led World Nutella Day, and Nutella bars opening across the United States. The escalating popularity of Nutella has led to an increased demand for hazelnut from the industries catering to the growing global consumer demand.
Chocolatiers are also re-launching their products during festive seasons, with a fusion of traditional and western styles, generally with luxury nuts incorporated into chocolates, which is boosting the demand for hazelnuts in the Asia-Pacific market.
Italy - The Largest Hazelnut Consuming Country in the World
The hazelnut consumption in Italy was at USD 42,3278 thousand in 2018, registering a CAGR of 10%, during the forecast period. The volume of hazelnut consumption in Italy was at 157,726 metric ton in 2018, and it is expected to register a CAGR of 8% during the forecast period.
As per the analysis, 89.7% of the domestic demand within the country is being satiated through production. In order to satiate the rest of the demand, the country is depending on the imports.
Among the hazelnut-producing countries, Italy is one of the top five hazel nut consuming countries in the world, with the per capita consumption of 0.520 kilogram kernel per person. Piemonte is also one of the major hazelnut producing areas, accounting for 15% of the total Italian production. This region consists of other different sub-regions in which the production is around 20,000 metric ton.
Tonda di Giffoni in Latium, Tonda Rossa in Campania, Tonda Gentile delle Langhe in Piemonte, and Santa Maria de Jesu in Sicily are some of the major native cultivars in Italy.
Key Topics Covered
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.2 Restraints
4.3 Value Chain Analysis
4.3.1 Value Chain Overview
4.3.2 Price Mark-ups in the Value Chain
4.3.3 Major Stakeholders in the Value Chain
5 MARKET SEGMENTATION BY GEOGRAPHY (PRODUCTION, CONSUMPTION, IMPORTS, AND EXPORTS)
5.1 Geography
5.1.1 North America
5.1.1.1 United States
5.1.1.2 Canada
5.1.1.3 Mexico
5.1.1.4 Rest of North America
5.1.2 South America
5.1.2.1 Brazil
5.1.2.2 Argentina
5.1.2.3 Chile
5.1.2.4 Rest of South America
5.1.3 Europe
5.1.3.1 Germany
5.1.3.2 Italy
5.1.3.3 France
5.1.3.4 Switzerland
5.1.3.5 Russian Federation
5.1.3.6 Belgium
5.1.3.7 Netherlands
5.1.3.8 Spain
5.1.3.9 Rest of Europe
5.1.4 Asia-Pacific
5.1.4.1 Azerbaijan
5.1.4.2 China
5.1.4.3 Georgia
5.1.4.4 Rest of Asia-Pacific
5.1.5 Middle East & Africa
5.1.5.1 Turkey
5.1.5.2 Iran
5.1.5.3 Egypt
5.1.5.4 Tunisia
5.1.5.5 Cameroon
5.1.5.6 Rest of Middle East & Africa
6 MARKET OPPORTUNITIES AND FUTURE TRENDS
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