Truffles Market by Product and Geography - Forecast and Analysis 2020-2024

  • Published: Sep 2020
  • Pages: 120
  • SKU: IRTNTR43639
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The truffles market size has the potential to grow by USD 20.51 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by product (black truffles, white truffles, and others) and geography (Europe, North America, APAC, MEA, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Arotz S.A., Conservas Ferrer S.A., Gazzarrini Tartufi, La Maison Plantin, LES FRÈRES JAUMARD, Qingdao Colorful Farm Food Co. Ltd., Sabatino Italia Srl, The Truffle & Wine Co., The Truffles Co., and Urbani Tartufi Srl.

Truffles Market Size

Truffles Market Size

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Who are the Major Truffles Vendors?

The market is fragmented, and Arotz S.A., Conservas Ferrer S.A., and Gazzarrini Tartufi are some of the major market participants. Market growth drivers such as the growth in commercial truffle farming will offer immense growth opportunities to the vendors. However, factors such as the growing use of artificial and substitute truffle products will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this truffles market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this truffles market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Arotz S.A.
  • Conservas Ferrer S.A.
  • Gazzarrini Tartufi
  • La Maison Plantin
  • LES FRÈRES JAUMARD
  • Qingdao Colorful Farm Food Co. Ltd.
  • Sabatino Italia Srl
  • The Truffle & Wine Co.
  • The Truffles Co.
  • Urbani Tartufi Srl

Which are the Key Markets for Truffles?

Truffles-Market-Share-by-Geography

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North America will offer several growth opportunities to market vendors during the forecast period. Factors such as the rising number of foodservice chains, particularly high-end restaurants, wherein truffles are used will significantly drive truffles market growth in this region over the forecast period.

30% of the market’s growth will originate from North America during the forecast period. The US is a key market for truffles in North America. Market growth in this region will be faster than the growth of the market in Europe and South America.

What are the Major Product Segments in the Truffles Market?

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The black truffles segment is expected to witness a steady growth rate during the forecast period, led by the rising demand for black truffles from restaurant chains across France, the UK, the US, China, Hong Kong, Singapore, and others. Black truffle is usually found under oak trees from September to December. It is native to the Perigord region in southwest France.

The truffles market growth by the black truffles segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the truffles market size.

How will Commercial Truffle Farming Influence Truffles Market Growth?

Commercial farming has helped in reducing the supply and demand gap for them by increasing truffle production. The popularity of commercial truffle farming is growing with several leading suppliers supplying special tree saplings inoculated with truffle fungus to investors and farmers. Commercial farms offer a higher yield of truffles than traditional cultivation. The increasing research and development on cultivation techniques will further boost the yield of commercial farms. This growth in commercial truffle farming will be one of the major factors influencing the growth of the global truffle market size in the coming years.

Truffle hunting has emerged as a major tourist attraction in producing countries such as Italy, Spain, and France. Truffle tourism is also being promoted by major commercial truffle producing countries such as the UK, Greece, and Israel. These countries organize several hunting tours throughout the year which have resulted in a steady increase in the number of tourists visiting truffle farms per year. The growing truffle tourism is identified as a key truffle market trends that will gain traction during the forecast period. The market is expected to register a CAGR of over 1% during 2020-2024. 

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What are the Key Factors Covered in this Truffles Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive truffles market growth during the next five years
  • Precise estimation of the truffles market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the truffles industry across Europe, North America, APAC, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of truffles market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The truffles market growth will increase by $20.51 million during 2019-2024.
The truffles market is expected to grow at a CAGR of 1.27% during 2019-2024.
Technavio has segmented the truffles market by product (Black truffles, White truffles, and Others) and geographic (Europe, North America, APAC, MEA, and South America).
Angellozzi Tartuficoltura, Arotz SA, Gazzarrini Tartufi, La Maison Plantin, Les Frères Jaumard, Sabatino Italia Srl, The Truffle & Wine Co., The Truffles Co., The Welsh Truffle Co., Urbani Tartufi Srl are a few of the key vendors in the truffles market.
North America will register the highest growth rate of 30.23% among the other regions. Therefore, the truffles market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • France
  • Italy
  • UK
  • China
  • Spain
The key factors driving the truffles market growth are:
  • Launch of truffle-based products
The truffles market vendors should focus on grabbing business opportunities from the black truffles segment as it accounted for the largest market share in the base year.
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