The hazelnut milk market is estimated to be valued at USD 86 million in 2024. Global sales are anticipated to soar at a CAGR of 8.3% during the assessment period. By 2034, the market value is set to total USD 190 million.
As the adoption of vegan and flexitarian lifestyles continues to rise, the hazelnut milk market is experiencing significant growth, opening new avenues for investors. The increasing demand for plant-based diets is driving consumer interest in hazelnut milk, which is beneficial for both lactose-intolerant individuals and health-conscious consumers.
Hazelnut milk’s versatility and ability to combine with other flavors and food combinations are further endearing it to a wider audience. The market for hazelnut milk is also being propelled by the growing interest in functional beverages.
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Health trends that emphasize the added functionality of food and drinks are boosting the popularity of hazelnut milk as a nutritious ingredient in various beverages. Consumers regard plant-based beverages as healthy and sustainable, leading to their increasing demand.
A notable trend in the hazelnut milk market is the expansion of online retail. Analysis of distribution channels reveals a significant shift towards e-commerce platforms, driven by consumer preference for convenience and a broader product selection.
Niche growth factors include the rising popularity of specialty coffee shops and artisanal beverage trends, where hazelnut milk is favored for its unique flavor profile. The organic and clean-label movement is further driving demand for premium, minimally processed versions of the product.
Innovations in functional ingredients, such as adaptogens and probiotics, appeal to health-focused consumers. Similarly, increasing prevalence of food allergies and intolerances boosts demand for nut-based milk alternatives.
Key Takeaways from the Hazelnut Milk Market
- The hazelnut milk is anticipated to total USD 86 million in 2024.
- Liquid segment is expected to lead the form segment in 2024 with a share of 67.8%.
- The supermarkets segment will likely account for a market share of 34.5% in 2024.
- Italy is set to register a CAGR of 9.7% over the coming decade.
- Hazelnut milk demand in France is forecast to progress at a CAGR of 9.1% through 2034.
- The United Kingdom is anticipated to progress at a CAGR of 8.4% through 2034.
“Global analysis of the hazelnut milk market indicates a stellar demand for organic and non-GMO foods. Increased consumer consciousness about the adverse effects of inorganic and GMO products is driving the preference for organic hazelnut milk, which can be taken advantage of by investors,” says a lead analyst at Future Market Insights (FMI).
Who is Winning?
The hazelnut milk market is ostensibly fragmented, with local players giving a tough fight to big-name giants. Generally, hazelnut milk producers are also involved in other plant-based milk production. Few of the prominent companies in the market are Galaxy Nutritional Foods, Inc., Nature’s Choice B.V., and VitaHazelnut Australia Products Pty. Ltd.
Recent Developments in the Hazelnut Milk Market
- In May 2024, hazelnut milk was launched by Lactalis Canada as part of their Enjoy brand.
Get More Insights
Future Market Insights (FMI), in its new offering, provides a thorough, detailed, and unbiased analysis of the global hazelnut milk market, presenting historical demand data for the years 2019 to 2023 and forecast statistics for the years 2024 to 2034. The study provides compelling industry insights based on form (powder and liquid), end user (food and beverages, nutraceuticals and baby food, personal care, pharmaceuticals, and others), and s
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Key Segments of Market Report
By Form:
Based on the form, the hazelnut milk market is divided into powder and liquid.
By End User:
Based on the end user the sector is categorized into food and beverages, nutraceuticals and baby food, personal care, pharmaceuticals, and others.
By Sales Channel:
Different sales channels include supermarket, hypermarket, online retail, and others.
By Region:
The sector has been analyzed with the following regions covered: North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East and Africa.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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