Truffles refer to subterranean fungus that are found in the shadow of oak trees. Nevertheless, there are seven different kinds of species of truffle that are found all over the world. Right from the North Africa and the Middle East to Asia Pacific to Northwest of Pacific, such vast presence all over the world is likely to stimulate growth of the global truffle oil market in years to come.
Truffles are found in huge quantities in some specific areas across the globe. French and Italian countryside are the rich places for the growth of plentiful truffles in the world. Truffles come with different colors. Black truffles find itself growing with the hazelnut and oak trees in France’s Périgord region. On the other hand, burgundy truffles are found all over Europe.
Truffle oil is a modern culinary delight. It finds its use imparting aroma and flavour of truffles to a preparation. It mostly finds its use as a finishing oil in a wide variety of fishes like puréed foods such as deviled eggs and mashed potatoes, pizza, pasta dishes, and truffle fries.
The global truffle oil market is likely to be driven by its innovative uses across several preparations. Some of its uses are for the following preparations
- French fries, potato chips, and truffled popcorn
- Truffle oil goes extremely well with many of the vegetables
- Drizzle truffle oil over mashed potatoes
- Dishes using wild mushrooms
- Pizza with truffle oil
- Eggs and truffle oil
Truffle oil refers to a top-notch olive oil that has been infused with either white or black truffles. Both the types of truffles give out an earthy, mushroom flavour.
Some of the renowned market players found in the global truffle oil market are Sabatino Tartufi, Truffle Hunter, Marcel Plantin, and Urbani. These companies are also leading supplier of Pizza, Risotto, and pasta. Hence, they are also huge consumers of truffle oil.
Urbani, , and are major players in the sales market. These companies are also the largest truffle suppliers in the world. Pasta and Risotto, Pizza and Vegetables are the main consumption applications of truffle oil.
can be found concentrated in certain areas around the world, with the Italian countryside and French countryside being rich places of growth. Black truffles grow with the oak and hazelnut trees in the Périgord region in France. Burgundy truffles can be found throughout Europe in general, like the black summer truffle.
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Market outlook
In the recent years, restaurants and food companies are focusing on repositioning themselves to align with the changing tastes and preferences of customers and to meet their growing requirements. Truffle oil adds great flavour and aroma to various recipes. It is widely used in several cuisines as a finishing oil or drizzled over many recipes to increase redolence, which makes the food more tempting and aromatic for customers.
The demand for truffle oil is increasing across the globe owing to its lower price as compared to fresh truffle despite the fact that it provides the same flavour and aroma to food. In the global market, the demand for truffle oil is the highest in North America and Europe. North America is also the world’s largest producer of truffle oil.
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Growing Demand for Truffle Oil in the Food Industry and Restaurants:-
In the global market, the demand for truffle oil for household purposes is increasing owing to its ability to enhance the flavour and fragrance of different cuisines and dishes. Truffle oil is almost exclusively used as a finishing oil as it is drizzled over various dishes such as pizza, pasta, meat and various desserts. It is also added to whipped products such as deviled eggs and mashed potatoes to add depth to the flavour. Truffle oil is extensively used by chefs in restaurants to enhance the flavour and aroma of their recipes.
The extensive usage of truffle oil can also be attributed to its stable price, due to which it is more economical than fresh truffle. The stability of the price can be attributed to its synthetic production with the usage of certain chemical compounds that have the same aroma and flavour as that of fresh truffle. Truffle oil is manufactured by infusing real truffles in olive oil or grapeseed oil. The demand for truffle oil is increasing as it contains antioxidants as well as aids in the prevention of the tumour.
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Global Truffle Oil: Market Segmentation
On the basis of type, the global truffle oil market has been segmented as-
- Black truffles
- White truffles
- Burgundy truffles
- Garlic truffles
On the basis of application, the global truffle oil market has been segmented as-
- Pizza
- Pasta
- Desserts
- Meat
- Others
On the basis of distribution channel, the global truffle oil market has been segmented as-
- Direct
- Indirect
- Supermarkets
- Hypermarkets
- Retail
- e-Commerce
Global Truffle Oil: key players
Some of the key players operating in the global truffle oil market are Wild Harvest; MarDona Specialty Foods, Ltd.; Monini; BLACK BOAR TRUFFLE; TruffleHunter Inc.; Urbani; AROTZ; La truffle du Ventoux; Marcel Plantin; Truffle Hunter; Sabatino Tartufi; Conservas Ferrer; Oregon White Truffle Oil; Savitar and Gazzarrini Tartufi. An increasing number of food industry players are showing keen interest in introducing truffle oil in their product line, which is also expected to increase the demand for the same in the coming future.
Opportunities for market participants:-
In the global market, the demand for truffle oil is increasing particularly for household consumption due to its in-depth aroma, flavour, health benefits and numerous other properties. Increase in the demand for processed food is leading to growth in investments in the establishment of new food outlets and restaurants, which is boosting the demand for truffle oil as it is used as a finishing oil in several recipes. Among confectionaries and bakery products, companies are using truffle oil to add extra flavour and aroma to cater to the demands of food-loving customers and connoisseurs.
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Global Truffle Oil: A Regional Outlook:-
North America is the highest producer and consumer of processed food, and companies, such as MarDona Specialty Foods, Ltd.; BLACK BOAR TRUFFLE; Truffle Hunter Inc.; Oregon White Truffle Oil; etc., are present in the region, and these factors are expected to boost the demand for truffle oil in the region during the forecast period. Asia Pacific is witnessing significant growth owing to an increase in population as well as expected growth in the number of food industries over the forecast period, which is resulting in the rapid procurement of truffle oil in the region by key players. In addition, truffle oil is extensively used in the European region owing to the increasing consumption of processed food.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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