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.
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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.
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.
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“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.
Key Market Segments Covered in Truffles Industry Research
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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
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By Nature
- Organic Truffles
- Conventional Truffles
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By Form
- Fresh Truffles
- Processed Truffles
- Dried
- Oil
- Frozen
- Canned
- Others
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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
- Store-based Retailing
- B2B Sales of Truffles
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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
Top Truffle Suppliers
Truffle producers are expanding in number due to rising demand for their taste and aroma across various parts of the world. Mushroom providing companies are working on research & development to understand the market gaps and work towards filling the same.
- The Truffle & Wine Co., being a premium brand, invests a large amount in research & development to understand the market dynamics, which helps the company frame its marketing and product strategies accordingly. The company is focused on taking measures to maintain the quality of its products through well-established quality check procedures.
- The Truffles Co. d.o.o. focuses on the marketing of Siberian truffles to reach out to potential consumers. The company arranges events such as truffle hunting to connect with customers on a deeper level and build a customer-brand relation.
Similarly, latest developments related to companies manufacturing truffles have been tracked by the team at Fact.MR, which are available in the full report.