New York, NY — (PRESS RELEASE JET) — 09/26/2017 — The global hazelnut market was valued at nearly US$ 7,000 Mn in 2015 and is anticipated to reach a market value of nearly US$ 13,000 Mn by 2026 end. In terms of value, the global hazelnut market is expected to witness a compound annual growth rate of 5.9% between 2016 and 2026.

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Global Hazelnut Market Forecast by End Use Industry

Beverage industry segment is anticipated to gain 50 BPS by 2026 as compared to 2016

The Food industry segment was estimated to account for the largest market share of 89% in 2016 and is expected to register a CAGR of 5.2% from 2016 to 2026 in terms of value. The Beverage industry segment is anticipated to witness Y-o-Y growth rates ranging from 4.3% to 6.7% during 2016–2026 – the highest among all segments.

The Food industry segment is projected to register a moderate value CAGR over the forecast period

Increased usage of hazelnut – especially in confectionary and bakery products – is expected to drive segmental growth over the forecast period. Many countries are growing a variety of hazelnuts and are also introducing hybrid hazelnuts in the market. These factors are also expected to drive revenue growth of the Food industry segment over forecast period.

In terms of value, Beverage industry segment is expected to register a significantly high CAGR over the forecast period

Increased usage of hazelnut, especially in flavored milk and coffee products, is expected to drive segment growth over the forecast period. Demand for hazelnut in the Beverages industry segment is anticipated to account for 9.8% value share at the end of 2026.

In terms of value, Pharmaceutical industry segment is expected to register a relatively higher CAGR over the forecast period

Increased usage of hazelnut, especially in massage oils and skin ointments, is expected to drive segment growth over the forecast period. Demand for hazelnut in the Pharmaceutical segment is anticipated to account for 5.3% value share at the end of 2026.

In terms of value, Cosmetics industry segment is expected to register moderate growth during the forecast period

The Cosmetics industry segment was estimated to account for 4.1% value share of the global hazelnut market in 2016. Increased usage of hazelnut, especially in skin and hair care products, is expected to drive segment growth over the forecast period. Demand for hazelnut in the Cosmetics industry segment is projected to account for 4.0% value share at the end of 2026.

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Companies are concentrating on mergers and acquisitions to strengthen their position in the Western Europe hazelnut market

As Italy is the second largest producer of hazelnut, key players in the confectionary industry are entering the market for hazelnut manufacturing, which benefits them in two ways. Firstly, there is no shortage of hazelnut for their signature products and secondly, business expansion by retailing hazelnut also works in their favor. In 2012, Barry Callebaut acquired premium quality nut manufacturing company La Morella Nuts, based in Barcelona, Spain with an effort to move into the nuts business. In 2015, the world’s biggest hazelnut buyer company Ferrero acquired Serbian agricultural company Aleksa Santic.

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