The Effects of COVID-19 on the Demand and Supply of Hazelnuts
With increasing demand from consumers, the hazelnut market is expected to expand quickly. Hazelnut is a rich dietary source of protein. It contains a higher concentration of alpha-tocopherol (vitamin E) than any other nut.
Turkey dominates the hazelnut production, with an estimated share of 65%, globally.
Hazelnuts can lower LDL (bad) cholesterol and increase HDL (good) cholesterol, increasing sales during the pandemic. They are also used in desserts, such as cakes, muffins, chocolate dishes, praline, or pastries. With the growing demand for the product, various producers are entering the market with innovative products.
What Did COVID-19 Do?
With the impact of COVID-19, there has been an inclination towards a healthy eating diet that includes fruits, nuts, etc. Nuts, included in most healthy dietary patterns, are characterized by their high energy density due to their high lipid content.
They also contain plant protein and significant amounts of polyphenols, phytosterols, vegetable fiber, and micronutrients. Hazelnuts contain all these nutrients, So, consumption of these foods is known to help regulate immunologic and inflammatory responses. As you can expect, the demand for hazelnut is anticipated to grow in the future.
Rise in Popularity
Chocolate manufacturers are re-introducing their signature products with hazelnut-incorporated product lines, coming out as an innovation in taste in the global confectionery market.
Similarly, M&M'S launched their Hazelnut Spread Chocolate Candies feature a hazelnut spread center covered in delicious milk chocolate. Nutella has become a food phenomenon worldwide, with Nutella heists, a fan-led World Nutella Day, and Nutella bars opening across the United States.
The escalating popularity of Nutella has led to an increased demand for hazelnut from the industries catering to the growing global consumer demand. Chocolatiers are also re-launching their products during festive seasons, with a fusion of traditional and western styles, generally with luxury nuts incorporated into chocolates, boosting the demand for hazelnuts.
