Technavio has announced the top five leading vendors in their recent global hazelnut market report. This research report also lists five other prominent vendors that are expected to impact the market during the forecast period.
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Hazelnut consumption has increased in recent years, despite a fall in production. Hazelnut is mainly used by food industry players, who utilize it to make products like spreads, chocolates, bakery products, and other confectionery products. The market for confectionery products is expected to increase further during the forecast period.
Competitive vendor landscape
The global hazelnut market is driven by increasing health consciousness among consumers. It is subjected to varying customer demand and tastes. Economic conditions, consumer preferences and spending patterns, and demographic trends may also have an impact on the market.
“Ferrero, which uses hazelnuts in most of its products, has surpassed the sales of other large confectionery brands like Nestlé in some countries like India. The sweet, nutty taste and nutritional benefits associated with hazelnuts are some of the factors driving the demand,” says Manjunath Reddy, a lead food research analyst from Technavio.
The large untapped market potential and nutritional benefits of hazelnuts will drive the market over the next five years. While the global market for processed hazelnuts will grow at a considerable rate during the forecast period, the global unprocessed hazelnuts market will grow at a relatively slower rate.
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Top five hazelnut market vendors
Balsu Gida is one of the leading companies supplying natural and processed hazelnuts that was established in 1980 and is headquartered in Sakarya, Turkey. Its plant in Turkey has a multi-leveled production facility with an annual cracking and processing capacity of about 35,000 tons of hazelnuts.
Chelmer Foods is one of the leading suppliers and distributors of nuts, dry fruits, seeds, and pulses. It supplies and sources from more than 20 nations across the globe. It offers a wide range of products in different carton sizes with various labeling and specifications. It also sells its products through its own stores.
Kanegrade is an ingredients supplier functional in the UK and other countries. It offers about 18,000 products that fall into six main categories: natural color and extracts, flavors, functional ingredients, fruit ingredients, vegetable ingredients, and organic ingredients. It caters to the needs of food, flavors, beverage, and pharmaceutical manufacturers.
Olam International is an agri-business firm operating in about 70 countries. Its five primary business lines are edible nuts, spices and vegetable ingredients, confectionery and beverage ingredients, industrial raw materials, food staples and packaged foods, invenio asset management, and commodity financial services. The segmentation is based on the nature of the product.
A large portion of the hazelnut crop in the US is produced in Oregon along Willamette Valley. Oregon has an ideal climate for growing hazelnuts. These hazelnuts are known for their exceptional in-shell quality, size, and flavor. The company has a large network of hazelnut suppliers and exports about 50% of its production annually. To improves its yield and quality, it has many hazelnut nurseries and hazel micro-propagators.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.