Hazelnut oil market Introduction:
Hazelnut oil is extracted from hazelnuts also known as Cobnut or fiber nut. Hazelnut oil is pale yellow, and it is a carrier oil used for diluting essential oils. Hazelnut oil has the nutty taste, and it is slightly sweet in nature which makes it useful for flavoring baked goods and some sauces. Hazelnut oil works great as a marinade. It can be added to mildly flavored oils and used as a base for decorating salads. It is use in cosmetics and personal care items which is expected to increase its demand in the near future. Hazelnut oil is expensive, and it is usually found in epicure shops, although some supermarkets may have a supply.
Hazelnut oil market Segmentation:
Hazelnut oil market can be segmented on the basis of types, end users and sales channel.
On the basis of type global hazelnut oil market is segmented into Roasted hazelnut oil, and Cold pressed hazelnut oil. Cold-pressed hazelnut oil does not harm the flavor or the nutrition of the oil. Hazelnut oil can be refined, which means the roasted hazelnuts are hard-pressed twice with the second extraction completed through a chemical refining followed by filtering the oil. Hazelnut oil extracted from roasted hazelnut has less flavor and low nutrient value.
On the basis of end-user hazelnut oil market can be segmented into personal care and cosmetics, food, pharmacy, industrial and others. Personal care and cosmetics segment is further sub segmented as skin care, and hair care. Among all the end-use segment personal care and cosmetic segment is expected to have a major market share in terms of value. Increasing usage of hazel nut oil as a natural ingredient in various cosmetics and personal care product is expected to support the segment growth during the forecast period.
Global hazelnut oil market is further segmented on the basis of sales channel, which includes direct and indirect sales channel. Indirect sales channel is further sub-segmented as modern trade, pharmacy stores, specialty stores and e-retailers. Among all these sub-segment e-retailers is expected to represent substantial growth in the global hazelnut oil market. Increasing internet penetration coupled with rising consumer influence towards online purchase is expected to support the e-retailers growth during the forecast period.
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Hazelnut oil market Regional Outlook:
Globally, Middle East Africa is one of the largest producer of hazelnut. However, in terms of hazelnut oil consumption Western Europe is expected to represent major market share followed by North America. Increasing demand of personal care products containing natural oil is expected to support the market across North America region. In addition hazelnut oil market in Asia Pacific is expected to represent favorable growth in terms of value over the forecast period.
Hazelnut oil market Drivers and Restraints
Hazelnut oil is used in skin nourishment known as aromatherapy which is supporting the market growth. Its nutty taste and sweet aroma helps in flavoring baked goods and decorating salads. Use of hazelnut in the preparation of soaps, lotions, creams, oils and health care products is expected to increase the growth of hazelnut oil market efficiently. Use of hazelnut oil for polishing silverware and copper is further expected to drive the market growth. However, hazelnut oil quite expensive due to less availability of raw material. Moreover, the shelf life of oil is about a year if stored away from exposure to direct sunlight. Thus these factors are collectively expected to restrain hazelnut oil market over the forecast period.
Hazelnut oil market Key Players:
Some of the key players of hazelnut oil market are Edens Garden, Perles de Gascogne, A L’Olivier, Base Formula, La Tourangelle, Corilanga, NHR Organic Oils, Maille, Mountain Rose, and LorAnn Oils.