Increasing Demand for Essential Oils is Proliferating the Hazelnut Oil Market

 

Hazelnut Oil is also known as cobnuts or fiber nuts. It is liquid extracted from a hazelnut by a machine called a press. It is used in food products such as salad dressing, additives in sauces, baked goods, and various other cuisines. In addition, hazelnut oil contains minerals such as magnesium, potassium, and calcium. It also has the highest amounts of flavonoid, more than any carrier oil. In recent years, hazelnut oil is a light-yellow carrier oil that is used to dilute essential oils. Furthermore, the demand is anticipated to rise soon due to its application in cosmetics and personal care products. Also, can be used to flavor baked items and various sauces because of its nutty flavor and somewhat sweet character.

 According to UnivDatos Market Insights (UMI)’ research report “Global Hazelnut Oil Market Market”, the market is expected to grow at a CAGR of around 8% during the forecast period (2022-2028). This is mainly owing to the increasing essential oil demand coupled with the popularity of aromatherapy. Major companies in the market offer hazelnut oil for food and beverage applications with technologically advanced features. For instance, in March 2019, Cadbury Dairy Milk Silk launched Novelty - Silk Hazelnut chocolate with whole Turkish hazelnuts. In addition, to serve the increasing demand for organic food and beverages, farmers are engaged in producing organic hazelnut.

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Based on type, the market is segmented into roasted and cold-pressed. Cold-pressed hazelnut oil category is expected to witness a higher CAGR during the forecast period owing to its nutritional value in a variety of contexts. Additionally, it can be processed and does not degrade the oil's flavor or nutritional value. And the roasted hazelnuts are hard pressed twice and the second extraction is completed by chemical refining followed by filtration of the oil. Hazelnut oil, which is extracted from roasted hazelnuts, has little flavor and low nutritional value. Thus, cold-pressed hazelnut oil is expected to grow across the globe.

Based on the end-user, the market is categorized into personal care & cosmetics, industrial, food, pharmaceutical, and others. Among these, personal care & cosmetics held a significant share of the market in 2020. This is mainly due to the growing trend toward natural products has led to an increase in the use of natural oils in various types of hair care and skin care product. For instance, COSM'OIL HAZELNUT is a hazelnut oil obtained by pressing the kernels. The oil can be used for various cosmetic applications. Thus, personal care & cosmetics offer better growth in the market.

Europe to witness extensive growth

For a better understanding of the market adoption of the hazelnut oil industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Europe is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing consumer preference for natural oils and rising demand for hazelnut oil in cosmetics across regional countries. Also, the significant driver propelling the expansion of the hazelnut oil market in the European region is consumers' preference for natural oils. In addition, it is anticipated that the rising demand for personal care products made with natural oil will sustain the industry.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the hazelnut oil market are Perles de Gascogne, Edens Garden Inc., La Tourangelle, Base Formula, A L'OLIVIER SA, Corilanga, LorAnn Oils, NHR Organic Oils, Mountain Rose Herbs, Maille.

“Global Hazelnut Oil Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.      

Market Segmentation:

1.     By Type (Roasted and Cold-Pressed)

2.     By End-User (Personal Care & Cosmetics, Industrial, Food, Pharmaceutical, and Others)

3.     By Region (North America, Europe, Asia-Pacific, Rest of the World)

4.     By Company (Perles de Gascogne, Edens Garden Inc., La Tourangelle, Base Formula, A L'OLIVIER SA, Corilanga, LorAnn Oils, NHR Organic Oils, Mountain Rose Herbs, Maille)

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Key questions answered in the study:

1.     What are the current and future trends of the global hazelnut oil industry?

2.     How the industry has been evolving in terms of type and end-user?

3.     How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.     What are the key growth drivers and challenges for the global hazelnut oil industry?

5.     What is the customer orientation, purchase behavior, and expectations from the global hazelnut oil suppliers across various region and countries?

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