Hazelnut Oil Market Size, Share, Growth, and Industry Analysis, By Type (Roasted Hazelnut Oil & Cold Pressed Hazelnut Oil), By Application (Cosmetics & Foods), and Regional Insights and Forecast to 2032

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HAZELNUT OIL MARKET OVERVIEW

The global Hazelnut Oil Market size was valued at approximately USD 0.62 billion in 2023 and is expected to reach USD 0.9 billion by 2032, CAGR of about 4.50% during the forecast period.

The market for hazelnut oil is not vast but it is gradually emerging and has a bright future. Given the fact that demand for natural and healthy oils is only on the rise in the food, cosmetic, and pharmaceutical industries. It is gotten from roasted or cold-pressed hazelnuts and has a wealth of essential fats, vitamins, and antioxidants, and for this reason is used in skin care and cuisine. This is with regards to the substance color being a light shade of yellow.

COVID-19 IMPACT

"Hazelnut Oil Industry Had a Negative Effect Due to disruptions and reduced demand during COVID-19 Pandemic"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

COVID-19 had a negative impact on the demand, supply chain, and consumption patterns, including its impact on the market for hazelnut oil, which forced the customers to reduce their demand because of an interruption or complete shut-down of the supply chain of essential things like hazelnut oil. The major industries that were most impacted are the hotel and the personal care industry, hence slowing down the market for hazelnut oil for a while. This also led to a lower sales rate. A focus on necessity goods and services was also observed mainly during the pandemic.

LATEST TREND

"Market growth is driven by rising demand for organic hazelnut oil"

An emerging change that is seen in the world market of hazelnut oil presently is a shift in the demand towards organic or cold-pressed variants that are gaining more customer appeal due to the availability of natural products that have not gone through the use of chemicals in the process of production. It is most conspicuous in the cosmetic and skincare segments, for example, the utilization of the nutrient-rich, anti-aging hazelnut oil. Also, there is the continuing need to procure sustainable inputs as well as the utilization of environmentally friendly packaging material. Accompanying this is the shift to an organic and healthy lifestyle that has been highly favored.

HAZELNUT OIL MARKET SEGMENTATION

By Type

Based on Type, the global market can be categorized into Roasted Hazelnut Oil & Cold Pressed Hazelnut Oil

• Roasted Hazelnut Oil: The roasted hazelnut oil is derived from roasted hazelnuts; therefore, it has a great flavor of hazelnuts fit for use in cooking, for example, in salads or special sweet delicacies.

• Cold Pressed Hazelnut Oil: Cold-pressed hazelnut oil does not go through a high heat process in order to extract the oil; this keeps all the natural nutrients, antioxidants, and fatty acids in the oil. This group forms part of body, skin, and hair products. More importantly, its taste is not all that sharp and has quite a lot of nutritional value; it can be used for food and skin product preparation. That way, it is very possible to ensure that the oil is not in any way processed, meaning it is more nutritious.

By Application

Based on application, the global market can be categorized into Cosmetics & Foods

• Cosmetics: Cosmetics is one of its major uses due to its moisturizing, anti-inflammatory, and skin-enriching properties that are ideal for creams, lotions, and serums.

• Foods: The hazelnut oil is mainly used in preparations of soups and stews, baked products, and salad preparation and is used in the food industry as a nut-flavored oil. It also improves the taste and texture of the various meals, and this is mostly seen in the Mediterranean and French cuisines. Altogether comprising a natural product, it has unsaturated fatty acids and antioxidants, which appeal to the buyers out of health concerns.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

Driving Factors

"Market growth is fueled by demand for natural, chemical-free hazelnut oil"

An increased public awareness that consumes natural chemicals-free products is boosting the Hazelnut Oil Market Growth, especially in the cosmetics and skincare markets. Rich in vitamins and minerals; has skin benefits; makes it a darling of formulators of organic products. This is so particularly due to the current trend in health consciousness among people.

"Culinary demand for hazelnut oil drives significant market growth"

Due to its intense hazelnut-like flavor and rich nutritional value, mostly including healthy fatty acids, the product has found an enormous market demand, mostly in the gourmet and more significantly in the Mediterranean cuisine. It is applied in salad dressings, finishing oils, and baking, and it does not only boost the flavor but also the nutritional value of the foods. This culinary demand remains to drive the hazelnut oil market growth across the world.

Restraining Factor

"High prices of hazelnut oil limit market growth potential"

The next threat to the hazelnut oil market is its high price compared with other edible oils, which restricts its popularity among a wider population. The method used to produce hazelnuts and extract them from their shells, as well as the fact that only a few places in the world are ideal for growing hazelnuts, combine to make it pricy. This can be the consumer who is sensitive to price and can limit the expansion of the market.

Opportunity

"Market growth potential lies in wellness applications"

The unexplored part of the development in the hazelnut oil market is to proliferate its application in the wellness and nutraceutical industries. Thus, as the knowledge of the health benefits of hazelnut oil grows, including products for heart health and beneficial antioxidants, the use of the hazelnut oil in supplements and functional foods may grow. This expansion is also in line with the global trends towards plant-based and clean-label products. It is therefore conceivable that market opportunities can be found in focusing on consumers who are health-conscious.

Challenge

"Climate fluctuations hinder market growth and stability"

One of the major issues concerning the production of hazelnut oil is the susceptibility of the hazelnut crops to climate fluctuations and other concerning aspects of the environment. Growing of hazelnut involves certain areas, for instance, Turkey, where cases of climatic changes that affect production are eminent. It goes without saying that such unsteadiness of supply contributes to the fluctuations of prices and instability of the market. In the same manner, getting sustainable and ethically farmed hazelnuts complicates the supply chain of the company.

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HAZELNUT OIL MARKET REGIONAL INSIGHTS

• North America

"North America drives market growth due todemand"

North America is anticipated to be the largest consumer for hazelnut oil due to the increasing demand for gourmet and organic products along with raised health awareness. The UnitedStates Hazelnut Oil Market is a large and growing market owing to the increase in demands for the product for cooking purposes and beauty products. The food industry is rapidly growing, and consumers are increasingly moving toward clean-label products; thus, the demand stays high. Also, the consumption of domestically produced hazelnuts has also increased in the United States, making supply more reliable and cutting on import reliance.

• Europe

"Europe's market growth driven by demand for quality"

Europe holds a significant Hazelnut Oil Market Share because of their cultural expectations of oils, particularly nut oils, in food production and food products. Some of the countries that are important suppliers of these nuts are Italy and Turkey, which offer quality nuts for processing into oil. Similarly, the European market comprises organic and premium oils as consumers shift their focus to healthy oils. In addition, increased concern, environmental consciousness, and sustainable development remain high on the priorities of ministries across Europe, and for this same reason, any ethically produced hazelnut oil also gains demand.

• Asia

"Asia's market growth fueled by health awareness and trends"

Asia is known to play its part in the nature of customer awareness of the health benefits that are put into operation through the use of nut oils; hence, the demand for hazelnut oil in countries such as Japan and South Korea. The broad popularity of gourmet cooking, especially the trend of the use of natural ingredients both in the food and cosmetic industries, has provided new opportunities for the application of hazelnut oil. Furthermore, the growth of the middle bracket in many Asian countries is leading to a focus on premium and imported goods. As the market develops, the local producers are also turning to hazelnut production in order to increase the supply capability.

KEY INDUSTRY PLAYERS

"Market growth driven by innovation, partnerships, and sustainability"

Prominent industry players are particularly involved in the expansion of the hazelnut oil market since they are investing in new extraction technology and product portfolio expansion. This focus on organic and premium products meets the growing need of the consumer, who is becoming more conscious of what they eat. Not only does the reliance on strategic partnerships and marketing activities increase the overall brand recognition, but also the environmentally friendly approaches to sourcing further stimulate the growth of the hazelnut oil market through attracting the consumers concerned with sustainability.

List of Top Hazelnut Oil Companies

• La Tourangelle (U.S)
• Edens Garden (U.S)
• LorAnn Oils (U.S)
• Nutiva (U.S)
• A L'Olivier (France)

KEY INDUSTRY DEVELOPMENTS

September 10, 2024: La Tourangelle launched their new Organic Hazelnut Oil. This product is cold-pressed from premium organic hazelnuts, designed for both culinary and cosmetic uses. La Tourangelle's Organic Hazelnut Oil emphasizes a rich flavor profile and high nutritional value, catering to the increasing consumer demand for healthy, natural oils. The launch includes eco-friendly packaging and highlights the company's commitment to sustainable sourcing practices, appealing to health-conscious and environmentally aware consumers.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.