Demand for Organic Truffles to Rise Rapidly Over Decade; Restaurants And Food Companies To Have A Key Role In Augmenting Sales Fact.MR Report

According to a recent report by Fact.MR, a market research and competitive intelligence provider, sales of truffles are estimated to reach a value of US$ 764.2 Mn by 2031, surging at 8.9% CAGR through the decade.

Apart from their powerful flavor and scent, truffles have a number of health benefits that are making them more popular among individuals who prefer to eat healthily, such as being rich in important nutrients, high in antioxidants, having antibacterial properties, and also helping reduce inflammation.

Besides these health benefits, the product is also being highly demanded due to the compatibility of the taste of truffles with wines. Consumers enter a realm of true and authentic tastefulness when a conversation about truffles and wine pairings gets on. It is always recommended to pair wine with truffles based on the type of truffle being tasted, as truffles are frequently accompanied by other elements.

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As a result, while choosing a wine to pair with truffles, it’s important to consider the other supporting parts of the dish in order to get the product’s exquisite flavor. The popularity of this trend has recently soared due to high demand, in turn promoting the truffles market.

Key Takeaways from Market Study

• The U.S. holds more than 90% of the North American market share, due to improved farming practices.
• Due to limited regulatory limitations on truffle harvesting, China accounts for 58.6% of the market share in East Asia, according to Fact.MR data.
• With a market share of 11.9%, Germany is one of the most important countries in the European truffles market, owing to rise of truffle production in the country.
• Black or perigord truffles (tuber melanosporum) reflect approximately 37.1% market share, but oregon white truffles (tuber oregonense) are estimated to witness a high growth rate of 11.6% over the forecast period.
• Due to increased health consciousness, organic truffles account for almost 17.8% market share.

“The truffles market is being driven by their taste, aroma, and health benefits. Rising awareness about the product along with increased use in the F&B industry in the form of oils, honey, salt, butter, etc., are key factors for market expansion,” says a lead analyst at Fact.MR.

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Who is Winning?

Many CEOs re-checked their company’s portfolios and re-figured their strategy in 2020 and 2021 due to the global upheaval generated by COVID-19. Companies have worked on strategies such as marketing and packaging, adopted labels trends, and taken various steps to promote the product in different markets along with reaching new geographies.

• For example, Natura Tartufi has certifications such as IFS and Halal, increasing the creditability of the company’s products. It aids the organization in gaining clients’ trust by complying with the market’s developing label trend. The company is specialized in truffles hunting and processing.

Some of the leading companies offering truffles are Natura Tartufi, Passione Toscana, The Truffles Co. d.o.o., Italtouch Trading Fz Llc., Truffles Northwest, Black Boar Truffle, LLC, TruffleHunter Ltd., Ramelli Corporation, Wiltshire Truffles Limited, and Angel’s Salumi & Truffles,.

Key Market Segments Covered in Truffles Industry Research

• By Product Type

  • Black or Perigord Truffles (Tuber melanosporum)
  • White Truffles (Tuber magnatum)
  • Summer Truffles (Tuber aestivum var. aestivum)
  • Burgundy Truffles (Tuber aestivum var. uncinatum)
  • Oregon Black Truffles (Leucangium carthusianum)
  • Oregon White Truffles (Tuber oregonense)
  • Others

• By Nature

  • Organic Truffles
  • Conventional Truffles

• By Form

  • Fresh Truffles
  • Processed Truffles
    • Dried
    • Oil
    • Frozen
    • Canned
    • Others

• By Application

  • B2B Sales of Truffles
    • Food Processing Industries
    • Food Service Restaurants
    • Cosmetic and Personal Care Industry
  • B2C/Indirect Sales of Truffles
    • Store-based Retailing
      • Hypermarkets/ Supermarkets
      • Convenience Stores
      • Independent Grocery Stores
      • Specialty Stores
      • Discounters
      • Other Retailers
    • Online Retailing

• By Region

  • North America Truffles Market
  • Latin America Truffles Market
  • Europe Truffles Market
  • East Asia Truffles Market
  • South Asia Truffles Market
  • Oceania Truffles Market
  • MEA Truffles Market

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