W33: Hazelnut Update
In W33 in the hazelnut landscape, the global hazelnut market is projected to grow from USD 474.21 million in 2023 to USD 700 million by 2028, with a compound annual growth rate (CAGR) of 8.10% from 2023 to 2028.
In the first half of 2023, Azerbaijan experienced a notable increase in hazelnut exports, with 11.49 thousand tons, marking an 18.9% growth compared to the same period in 2022. The export value of peeled hazelnuts reached USD 59 million, indicating a 5.7% rise. Russia, Germany, and Italy stand out as significant importers of Azerbaijani hazelnuts, with Russia receiving 5.27 thousand tons, followed by Germany and Italy with 2.27 thousand tons and 1.58 tons, respectively. Azerbaijan maintains a prominent position as a significant global producer and exporter of hazelnuts.
