In the fourth quarter of 2023, the price of hazelnuts in the United States reached 4604 USD/MT by December.
The latest report by IMARC Group, titled “Hazelnuts Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” provides a thorough examination of hazelnuts prices. This report delves into globally, presenting a detailed analysis, along with informative hazelnuts price chart. Through comprehensive price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.
Hazelnuts Prices December 2023:
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The study delves into the factors affecting hazelnuts price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Hazelnuts Price Trend- Q4 2023
The hazelnuts market is being driven by several key factors. The increasing demand for hazelnuts in the food and beverage (F&B) industry, particularly in confectionery products like chocolates, spreads, and bakery items, is significantly boosting the market growth. Additionally, the growing preference for plant-based and healthy snacking options among consumers, which has spurred the demand for hazelnuts, known for their rich nutritional profile, including high levels of vitamins, minerals, and healthy fats, is fueling the market expansion. Besides this, the rising popularity of hazelnut-based products in emerging markets due to changing dietary habits and increasing expenditure capacities is further propelling the market expansion.
Moreover, the growing use of hazelnuts in the production of non-dairy alternatives, such as hazelnut milk and creamers, which aligns with the trend toward vegan and lactose-free diets, is contributing to the market growth. In addition, the adoption of sustainable farming practices and organic production methods, driven by consumer awareness and preference for environmentally friendly products, is acting as another growth-inducing factor. Furthermore, recent innovations in processing technologies and enhanced distribution networks, which are facilitating the availability and accessibility of high-quality hazelnuts across the globe, are supporting the market growth.
Hazelnuts Industry Analysis
In North America, the factors influencing hazelnut prices in the last quarter include fluctuations in supply due to climatic conditions affecting the yield. Additionally, adverse weather events, such as frost or drought, have impacted production volumes, leading to tighter supply and higher prices. Besides this, increased labor and transportation costs have contributed to the rising prices, as the agricultural sector faces challenges with workforce availability and logistics. Furthermore, heightened demand from the food processing industry, driven by the popularity of hazelnut-based products, has exerted upward pressure on prices.
In the Asia Pacific region, the factors influencing hazelnut prices include changes in import tariffs and trade policies, affecting the cost of imported hazelnuts. Additionally, currency fluctuations have played a role, with weaker local currencies making imported hazelnuts more expensive. Also, the growing demand from the confectionery and snack industries in the region has contributed to price increases.
Regional Price Analysis:
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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