Western Europe to Represent a Leading Region in the Hazelnut Market Through 2026

(Newswire.net — July 25, 2017) New York City, New York — Increasing need for skin ointments, and massage oils has led to an upsurge in demand for hazelnuts significantly. In addition, manufacturers of confectionary products are increasingly using hazelnut for enhanced flavors. Such factors are likely to contribute towards growth of the global hazelnut market positively. 

Factors Propelling Growth of the Global Market 

Growing demand for coffee and flavored milk is likely to rev up demand for hazelnuts in the beverages industry. Moreover, surge in demand for confectionary and bakery products is likely to impact growth of the global hazelnut market positively during the predicted period. Attributed to various health-related benefits, hazelnut is likely to witness robust demand in the personal care products including massage, and skin care ointments. Such factors are likely to contribute towards growth of the global hazelnut market by the end of 2025.

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Furthermore, hazelnut will witness significant demand in the cosmetic industry  by 2025 end,  due to its various nutritional benefits. With growing demand for hazelnuts across various industries, retailers are witnessing surge in sales of hazelnut by various manufacturers. Moreover, hazelnut will witness an upsurge in demand attributed to its protein-rich benefits, and other nutritional attributes. Such factors are likely to impact growth of the global hazelnut market  positively throughout 2025.

Food and Beverages to Remain a Dominant Segment

Food and beverage industry represented a major market share of 89% in the global hazelnut market in 2016. This segment is likely to witness a CAGR growth of 5.2% in terms of revenue during the predicted period. Surge in application of hazelnut, particularly in bakery and confectionary products is likely to fuel growth of the food segment in the global hazelnut market by 2025 end. Beverages, among other applications, are likely to represent a revenue share of 9.8% by the end of 2026. In 2016, cosmetic industry among various applications represented a revenue share of 4.1% of the global market. This segment is likely to witness a revenue share of 4.0% by 2026 end.

Western Europe to Represent a Leading Region

Western Europe, among other regions, accounts for half of the global hazelnut market in terms of consumption. Increasing presence of food and beverage companies in the Western Europe countries are likely to boost demand for hazelnut in the region significantly. In terms of revenue, North America will account for more than 10% of the global market by the end of 2025. Japan among other regions will represent a revenue share of 11%, which is likely to witness a moderate growth by the end of 2026. Eastern Europe among other regions will represent a revenue share of 20.1% during the predicted period. In terms of revenue, APEJ will witness robust growth globally by 2026-end. The market in this region will register a CAGR growth of 7.2% during the projected period.

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Market Players

Leading manufacturers operating in the global hazelnut market include Barry Callebaut AG, Durak Findik, Geonuts Limited, Karimex, Kanegrade Limited, Olam International, Arslantürk, Oregon Hazelnuts, Ferrero International SA, and Gursoy Tarimsal Urunler Gida Sanayii Ve Ticaret A.S.