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Sales of Hazelnut Market to be Significantly Influenced by Rising Consumer Adoption -Persistence Market Research
atulpmrMay 13, 2021 4
Global hazelnut market has experienced significant growth over the recent past, which will continue at a promising pace in the following years. The approximately
US$ 6 Bn market for hazelnut is set to exhibit a healthy
5% CAGR during
2019 – 2029. As indicated by a new research study of Persistence Market Research (PMR), over
80% of hazelnut consumption is accounted by the confectionary sector that uses it as a base or side ingredient.
Bakery and confectionery collectively accounted for over
80% of hazelnut consumption in
2018. Confectioners in particular have been extensively using hazelnut in chocolates, candies, cookies, cakes, and pastries, which would be a strong factor upholding hazelnut consumption at a global level. Retail industry is projected for a solid growth outlook, and traditional confectionary and baker’s confectio