3 Significant Trends Fuelling Growth of the Hazelnut Market Globally

Recently, Ferrero, world’s biggest hazelnut buyer has acquired world’s largest hazelnut processor, The Oltan Group. In addition, Ferrero International S.A., world’s largest chocolate confectionaries companies recently acquired FLOWERS.COM, the leading floral gift provider and gourmet food for all occasions. Moreover, Ferrero Canada has got a US$ 1.5 Mn boost from the provincial government in support of a US$ 36.1 Mn investment in order to expand the product line of the company and pursue new markets in the coming years. Such factors are likely to propel significant growth in the global market in the coming years.

The global hazelnut market is expected to witness a growth of 5.9% CAGR over the forecast period, 2016-2026. The food industry among others accounted for a major market share in 2016, and will witness a growth of 5.2% in terms of revenue over the coming years. The beverages industry among other industries will further witness a growth of 4.3% to 6.7% Y-o-Y growth rate, which is the highest among all segments. Pharmaceutical industry among other industries will register a relatively high CAGR over the coming years.

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Various trends propelling growth of the global hazelnut market include,

  1. Increasing Mergers and Acquisitions:

Various companies operating in the global hazelnut market are increasingly entering into strategic mergers and acquisitions. Ferrero, the biggest hazelnut buyer in the world has recently acquired the largest hazelnut processor in the world, The Oltan Group. Moreover, FLOWERS.COM, the leading floral gift provider and gourmet foods was recently acquired by Ferrero International S.A., which is world’s largest chocolate confectionaries companies. Additionally, Ferrero Canada has recently got a US$ 1.5 Mn boost from the provincial government in support of a US$ 36.1 Mn investment in order to expand their product line of the company, and pursue new markets in the coming years.

Food industry among other industries will witness a growth of 5.2% CAGR in terms of revenue over the coming years. Whereas, the beverages industry is likely to witness 4.3%-6.7% Y-o-Y growth rates in the coming years. Moreover, pharmaceutical industries among other industries will account for a revenue share of 5.3% over the coming years.

  1. Multiple Applications:

With growing demand for chocolates that compose of nuts, demand for hazelnut has significantly increased in the coming years. Moreover, hazelnut witnesses an upsurge in demand in cosmetic and pharmaceuticals industries. Clarins, a longstanding skin care company recently launched a range of highly-nourishing and moisturizing lip products. The range of the lip care products launched by Clarins comprise of hazelnut oil that deeply moisturize the lips without stickiness and oiliness of the other products.

The pharmaceutical industry among other industries is likely to boost growth of the market globally over the coming years. Moreover, increasing demand for hazelnut in cosmetics, the cosmetic industry accounted for a revenue share of 4.0% in the coming years.

  1. Regional Analysis:

The hazelnut market in Western Europe will account for half of the global production in the coming years. Moreover, various multinational food and beverages are likely to boost demand for hazelnut in various countries of Western Europe. Whereas, the hazelnut market in North America among other countries will account for a market revenue of over 10% over the coming years. Japan among other countries will hold a revenue share that will gradually rise to 11% in the coming years. However, Eastern Europe will account for a revenue share of 20.1% over the coming years. Moreover, the hazelnut market in APEJ will witness a growth of 7.2% CAGR in the coming years.

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Overall, with various market players mainly focusing on strategic mergers and acquisitions, hazelnut is likely to witness an upsurge in demand over the coming years. Moreover, due to various applications of hazelnut such as cosmetics and pharmaceutical industries, the global hazelnut market is likely to witness a significant growth in the coming years.

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