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  • Global hazelnut market to be worth $12bn by 2026

    Mar 27th, 2017

    A new report, titled “Hazelnut Market: Global Industry Analysis and Forecast, 2016-2026,” covers the global hazelnut consumption and breaks it down into two parts of the hazelnut; the kernel and the shell. In 2016, more than 90,000 metric tons of hazelnut shells were consumed globally, accounting for less than 1% of global hazelnut revenues.A majority of edible products made from hazelnuts are produced by extracting the nutritional fillings present in the kernels. By the end of 2026, more than US$ 12,600 Mn worth of hazelnut kernels are being projected to be sold in the world.

    In 2016, around 948,876 metric tons of hazelnuts were consumed by individuals and bakeries as well as leading food & beverage makers in the world. Persistence Market Research estimates that the global hazelnut market is presently valued at US$ 7,200 Mn, and will soar at 5.9% CAGR to bring in US$ 12,730.6 Mn revenues by the end of 2026.Compared to other nuts and dry fruits, the global market for hazelnut is still at a nascent stage and is expected to surge steadily in the years to come.

    The report reveals that demand for raw hazelnut will keep growing robustly, throughout the forecast period, in the years to come. By 2026-end, nearly one-third of global hazelnut revenues will be accounted for by sales of raw hazelnuts. However, processed hazelnut products will witness a considerably higher consumption, revenues from which will be valued at US$ 7,400 Mn by the end of 2026.

    The report also discloses that the world’s leading foodmakers will collectively be the largest end-users of hazelnuts. More than 80% of global hazelnut revenues will be emanating from manufacturers of food products such as protein shakes, bars or confectionary items. Besides, the demand for hazelnut will also gain traction among beverage producers, revenues from which will rise at an impressive CAGR of 6.4%. And, by the end of 2026, more than US$ 1,000 Mn worth of hazelnuts will be sold to pharmaceutical companies and manufacturers of cosmetic products.