New York, NY -- (SBWIRE) -- 09/14/2018 -- Even though it is characteristically a dry fruit, hazelnut guarantees that its consumers will be indulging in some mouth-watering treats. Food products & drinks derived from hazelnuts have left a flavorsome imprint of the taste buds of billions of people in the world. Rising consumption of chocolate truffles and confectionary products such as Nutella or Ferrero Rocher witnessed across the globe highlight that the world is less likely to put a stop to its hazelnut intake. In 2016, around 948,876 metric tons of hazelnuts were consumed by individuals, 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.
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Compared to other nuts and dry fruits, the global market for hazelnut is still at a nascent stage and will surge steadily in the years to come. Nutritional content of hazelnut products draws consumers towards them, who are further satisfied by the savory flavor. Correspondingly, retailers are growing more inclined towards spiking their dry fruit sales by increasing the presence of such products on the store shelves. Furthermore, protein-rich hazelnut products are also garnering surplus demand for being a part of several healthy dietary practices trending across the globe.
In the report, titled "Hazelnut Market: Global Industry Analysis and Forecast, 2016-2026," the global hazelnut consumption has been broken 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.
The report reveals that demand for raw hazelnut will keep growing robustly throughout the forecast period. In the years to come, more individuals are expected to buy raw hazelnuts to experiment with their culinary skills. By 2026-end, nearly one-third of global hazelnut revenues will be accounted 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.
In terms of consumption, half of world's hazelnut production is directed to Western Europe. Presence of multinational food & beverage companies keeps fueling the demand for hazelnuts in Western European countries. North America's hazelnut revenues will attribute to over 10% of global market value, while Japan's revenue share will steadily rise to 11% by 2026-end. Eastern Europe will be imposing a consistent 20.1% share on global hazelnut revenues throughout the forecast period. Meanwhile, the Asia-Pacific excluding Japan (APEJ) region is anticipated to incur rampant growth in its hazelnut revenues, exhibiting a 7.2% CAGR through 2026.
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The report has further profiled leading hazelnut manufacturers in the world, which include, Durak Findik, Barry Callebaut AG, Karimex, Geonuts Limited, Olam International, Kanegrade Limited, Oregon Hazelnuts, Arslantürk, Gursoy Tarimsal Urunler Gida Sanayii Ve Ticaret A.S., and Ferrero International SA.