The latest report titled hazelnuts production cost analysis by Procurement Resource, a global procurement research and consulting firm, provides an in-depth cost analysis of the production process of Hazelnuts.
Procurement Resource study is based on the latest prices and other economic data available. It also offers additional analysis of the report with detailed breakdown of all cost components (capital investment details, production cost details, economics for another plant location, dynamic cost model). In addition, the report incorporates the production process with detailed process and material flow, capital investment, operating costs along with financial expenses and depreciation charges.
Procurement Resource’s detailed report describes the stepwise consumption of material and utilities along with a detailed process flow diagram. Furthermore, the study assesses the latest developments within the industry that might influence Hazelnuts production cost, looking into capacity expansions, plant turnarounds, mergers, acquisitions, and investments.
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Product Definition:
Hazelnuts (genus Corylus), also referred to as cobnut, filbert, or hazel genus, are produced by the hazel tree (Corylus avellana), which is native to the north temperate zone. It produces deciduous nuts ranging between 3 to 36 metres (10 to 120 feet) in height. The tree has hairy obovate, and serrated leaves that are deep-rooted plants and tolerant to shade. The nuts have a hard shell and a nutritious creamy white interior with brown coloured thin papery skin. It contains nutrients like monounsaturated fatty acid, mono- and polyunsaturated fats, protein, fibre, antioxidants, oil, vitamin B6, folate, phosphorus, potassium, zinc, and omega-6 and omega-9 fatty acids, such as oleic acid.
Market Drivers:
Hazelnuts, also known as filberts, are an important agricultural crop driven by various market factors. These nuts are primarily used in confectioneries, snacks, and increasingly in health-related products due to their nutritional benefits. Several key market drivers influence the production, consumption, and global trade of hazelnuts:
Consumer Demand for Healthy Snacks: Hazelnuts are rich in protein, healthy fats, vitamins, and minerals, making them a popular choice among consumers looking for healthy snack options. The rising awareness of health and wellness has propelled the demand for nuts and nut-based products.
Use in Confectionery and Food Processing: A significant portion of the global hazelnut supply is consumed by the confectionery industry. Hazelnuts are a key ingredient in chocolates, spreads (like Nutella), baked goods, and other sweet treats. Their flavor, texture, and nutritional profile make them ideal for these applications.
Geographical Factors: The majority of the world's hazelnuts are produced in Turkey, which accounts for approximately 70% of global production. Other significant producers include Italy, the United States (particularly Oregon), and Georgia. The climate and soil conditions in these regions are well-suited for hazelnut cultivation, and changes in these factors can significantly impact production.
Global Trade and Tariff Policies: International trade policies, including tariffs and trade agreements, affect the global hazelnut market. For example, tariffs imposed by importing countries can affect the competitiveness of hazelnuts in global markets, influencing prices and demand.
Supply Chain Dynamics and Technological Advancements: Innovations in farming, harvesting, and processing technologies can increase yield and reduce losses, thereby affecting supply. Improved storage and logistics also help in maintaining the quality of nuts over longer periods, expanding their market reach.
Price Fluctuations and Economic Factors: The price of hazelnuts can be volatile, influenced by varying crop yields, changes in global demand, and economic conditions. For instance, a poor harvest due to adverse weather conditions in a major producing country like Turkey can lead to a significant rise in prices worldwide.
Sustainability and Ethical Sourcing Concerns: There is a growing consumer interest in sustainably sourced and ethically produced foods. Practices such as environmentally friendly farming and fair labor conditions can influence consumer choices and drive demand for certain brands or products.
Seasonal and Festive Demand: Demand for hazelnuts often spikes during certain times of the year, such as during festive seasons when nuts are traditionally consumed or given as gifts. This seasonal demand can influence market dynamics and pricing.
Nutritional Research and Dietary Trends: Ongoing research that highlights the health benefits of nuts, including hazelnuts, supports their inclusion in various diets like Mediterranean or plant-based diets, further promoting their consumption.
Understanding these drivers is crucial for stakeholders in the hazelnut market, from farmers and processors to marketers and policymakers. They help in navigating the complexities of the market, optimizing supply chain operations, and making strategic decisions.
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