Dublin, July 14, 2023 (GLOBE NEWSWIRE) -- The "Hazelnut Milk Market Size, Share, Trends, By Form, By Sales-Channel, By End-use and By Region Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The hazelnut milk industry is on a growth trajectory and is predicted to maintain this positive trend during the forecast period, showing an estimated revenue CAGR of 13.9%. The surge in popularity of vegan plant-based diets and increasing health awareness are propelling this market expansion.
A lucrative alternative to traditional dairy milk, hazelnut milk has been found to lower blood sugar levels, making it an attractive choice for type 2 diabetes sufferers. It also plays a significant role in the food and beverage sector, being utilized in the creation of various nutritious foods. Elements such as protein, calcium, vitamin B6, and B9 are present in hazelnut milk, aiding in the reduction of heart disease, lowering cholesterol, minimizing cerebrovascular complications, and regulating blood pressure.
Hazelnut milk is rich in vitamin E and antioxidants, potentially lowering the risk of cancer and heart diseases, and combatting free radicals. Vitamin B9 found in hazelnut milk aids in cell production and maintenance, preventing cancer-causing DNA alterations. Moreover, it comprises arginine, an amino acid that bolsters immunity and enhances the body's good fats. As an excellent source of calcium, it contributes to bone strength and promotes the functions of the heart, nerves, and muscles. Furthermore, hazelnut milk benefits athletes and gym-goers, enhancing protein synthesis, nutrient absorption, and tissue repair.
Compared to almond milk, hazelnut milk provides double the protein content and is an excellent source of vitamin B, omega-3 fatty acids, and vitamin E. These nutrients help with blood cell production, oxygen transportation in the body, and anemia prevention. The antioxidant potential of hazelnut skin surpasses that of walnuts, dark chocolate, and blackberries, providing robust cellular damage protection.
The growing demand for health-benefitting refreshments, driven by today's hectic lifestyles, busy schedules, and changing consumer preferences, has led various companies to introduce hazelnut milk products. For example, plant-based milk startup Ulu Hye introduced nut milk in three flavors, including hazelnut milk. Dutch Lady launched signature chocolate hazelnut and signature chocolate canned drinks for consumption on the go.
Market Motivators:
A driver for the hazelnut milk market's growth is the worldwide increase in vegan population and a shift in consumer preference toward nutritional food items. The vegan population is projected to expand further, spurred by health benefits of hazelnut milk such as metabolic boost, blood pressure reduction, and fat burning, leading consumers to consider alternative dairy products. Nevertheless, the market faces challenges such as supply chain risks like chemical contamination, allergens, and fraud, which hinder hazelnut production. Additionally, hazelnuts may contain aflatoxin, not suitable for regular consumption, restricting hazelnut milk supply in the market. Moreover, the cost of hazelnut milk is comparatively higher than regular dairy milk, making it less affordable for regular consumers. These factors could potentially impede market revenue growth.
Form Insights:
Hazelnut milk comes in two forms: liquid and powder. The liquid form was the most profitable in 2021 due to its wide applications in pharmaceuticals, food and beverages, and personal care industries. The powder form, while having a longer shelf life, is primarily used in confectionery, beverages, ice cream, and chocolates.
Sales Channel Insights:
Online and offline are the two main sales channels in the hazelnut milk market. The online segment was the most profitable due to the surge in the retail and e-commerce industry, further accelerated by the COVID-19 pandemic. In contrast, offline sales are projected to see modest revenue growth due to the accessibility of different flavored food items and various brands in physical stores.
End-Use Insights:
On the basis of end-use, the hazelnut milk market is segmented into food and beverages, nutraceuticals & baby food, personal care, pharmaceuticals, and others. The food and beverage sector dominated the revenue share due to the nutritional components and health benefits of hazelnut milk. The personal care segment is expected to see moderate growth during the forecast period, thanks to the antioxidant properties of vitamin E present in hazelnut milk.
Regional Insights:
In 2021, the Asia Pacific region accounted for the largest share of the hazelnut milk market. With an increasing customer base and a rising vegan population, the demand for hazelnut milk is only growing. The prevalence of lactose intolerance is also encouraging a shift toward plant-based milk alternatives.
In North America, the hazelnut milk market is expected to register steady revenue growth during the forecast period. The nutritional benefits of hazelnut milk, especially for diabetic patients, are making it an increasingly popular choice.
The European market is anticipated to see moderate revenue growth due to the growing demand for hazelnut milk in the forecast period. The rise in hazelnut milk consumption in the region's confectionery sector can be attributed to the cultural inclination towards elaborate desserts such as praline, Nutella, truffles, and Frangelico liqueur. The availability of nutrients like thiamine, vitamins, proteins, and various other minerals in hazelnut milk is anticipated to fuel its revenue growth.
Company Profiles
- Alpro
- Elmhurst Milked Direct LLC
- drinkhooray
- Kayco
- Rude Health
- Plenish
- Borges International Group
- Pacific Foods Of Oregon
- ASDA
- Fomilk
- Ulu Hye
- Fraser and Neave
- Dutch Lady Milk Industries Bhd
- RCP Foods
For more information about this report visit https://www.researchandmarkets.com/r/hk6ymw
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
