The truffle market - Italy (2024)

1.2 Global market

For truffles, most of the market is not registered (***), which makes it difficult to accurately assess the global truffle market. it is difficult to get an accurate figure on the global truffle market because many transactions are still conducted at local fairs in the main producing regions.

Global truffle market value World, ****-****, in millions of US$ MarketDataForecast

In ****, the estimated value is US$***.** million. This value increases gradually each year with a CAGR of *.**%, reaching US$***.** million in ****, US$***.** in ****, and US$***.** in ****. The positive trend continues in subsequent years, with the market reaching $***.** million in **** and finally $***.** million in ****. Overall, a**.** percent increase in the value of the truffle market is expected over the period analyzed.

Analysis of Major Importers of Truffles in **** Major Importers of Truffles World, ****, in millions of US$ UNComtrade the world's top truffle importers saw Italy dominate with imports worth US$***.* million. It is followed at a distance by France and Japan, with imports of US$**.* million and US$**.* million, respectively. Germany and Switzerland import truffles worth $*.** and $*.** million, respectively. Spain and the United Kingdom show smaller values, $*.** and $*.** million respectively, but still represent significant markets in Europe. Croatia, with $*.** million, stands out as an ...

1.3 The Italian market

In ****, the value was ***.* million euros, which increased to ***.* million euros in ****, marking a growth of **.* percent. **** saw an exceptional peak, with the value reaching ***.* million euros, a ***.* percent increase over the previous year. In ****, the value dropped to ***.* million, a **.* percent decrease from the **** peak. The downward trend continued in ****, with a further decline of **.* percent, bringing the value to ***.* million euros. **** saw a significant recovery, with the value rising to ***.* million, a ***.* percent increase over ****. However, in ****, the value fell again to ***.* million euros, a decrease of **.* percent from the previous year. Overall, the period from **** to **** saw a growth of *.* percent

Value of production sold of fresh or preserved mushrooms and truffles Italy, ****-****, in millions of euros Istat

Sold production of truffles and mushrooms in Italy fell from **,*** to **,*** thousand tons, a decrease of **.** percent. Realized production also fell from **,*** to **,*** thousand tons, marking a decrease of **.** percent. Despite the decline in both productions, the sales ratio showed a slight improvement from **** to ****, from *.** to *.**.

Sold and realized production of truffles and mushrooms Italy, ****-****, in thousands of tons Istat

Theestimated value of the Italian market for fresh, preserved and truffle products is about *** million euros (***).

1.4 Import - Export

Truffle exports from Italy decreased to $**.* million from $**.* million in ****, marking a *% decrease. In contrast, truffle imports increased significantly from $**.* million in **** to $***.* million in ****, an increase of **.* percent.

The coverage rate, which represents the ratio of exports to imports, decreased from *.** in **** to *.** in ****. from the initial value in **** to the final value in ****.

There are no data pertaining to truffle from previous years (***).

Exports, Imports and coverage rate of truffles Italy, ****-****, in millions of US$ UNComtrade

Italy imported truffles mainly from Bulgaria and Romania, which together account for more than ** percent of total imports. In detail, Bulgaria is the main supplier, with **.** percent of imports, followed by Romania with **.** percent. Spain, with **.** percent, and Iran, with **.** percent, are other important suppliers. Croatia contributes *.** percent of Italian truffle imports, while Germany, France and Slovenia provide smaller shares, *.** percent, *.** percent and *.** percent, respectively. Iraq and Chile account for very small shares, with *.**% and *.**% respectively. The other countries combined account for *.** percent of total imports. Main countries of origin of truffle imports Italy, ****, in % UNComtrade

The United States was the main destination of truffle exports from Italy, accounting for **.** percent of the total. This was followed by France with **.**% and Japan ...

1.5 Inflation suffered by the sector

The roots, non-starchy bulbs, mushrooms and other vegetables sector in Italy has been affected by inflation, which, as can be seen, has led to a significant increase in consumer prices.

Consumer price index for the whole community (***) - monthly data for roots, non-starchy bulbs, mushrooms and other vegetables [***] Italy, ****-****, index Istat

In June ****, the index was at ***.*. Steady growth was observed in the following months with a notable peak in September ****, when the index reached ***.*. It further increased to ***.* in October, but declined slightly in the following two months, falling to ***.* in December. In ****, the index started the year at ***.*, and then gradually increased in the following months. It touched ***.* in April and peaked at ***.* in June ****. After a slight stabilization around ***.* and ***.* in July and August, the index reached a new peak of ***.* in September ****, followed by a decline to ***.* in October. In November ****, the index rose again to ***.* and continued to rise to ***.* in April ****, showing an overall increase of **.* percent from June **** to April ****.

2.1 Overview of demand

Per capita consumption of truffles and mushrooms in Italy, estimated on a population of ** million, shows a decreasing trend from **** to ****, followed by a slight recovery in **** and ****. In ****, consumption was *.*** kg, falling to *.*** kg in ****, an overall decline of **.** percent. In ****, per capita consumption rose again to *.*** kg and continued to increase to *.*** kg in ****.

Italian per capita consumption of truffles and mushrooms Italy, ****-**** Istat, Businesscoot elaboration

2.2 Demand drivers

Truffles are not only irresistible because they are so full of flavor, there is a science behind why they are so seductive to so many people. Truffles release pheromones, making them deliciously desirable to many. An article in Food Pairing notes how research has found that humans perceive smells differently, meaning that some aromas can turn off others, while positively attracting others. This is certainly the case with truffles, with various species having their own specific olfactory characteristics. Most black truffles contain dimethyl sulfide, which is sulfurous to smell and is what attracts truffle-hunting animals, such as pigs and dogs.

Truffles also contain the pheromone androstenone, which is derived from testosterone, the male sex hormone. In humans, androstenone is produced by sweat, and research suggests that people react to this odor quite differently. While some find the smell unpleasant to say the least, and some actually have no particular reaction either way, there are others who simply love it. In terms of fascination, about ** percent of people find the scent irresistible, while about ** percent abstain, and ** percent are not attracted at all.

Attraction to truffles World, ****, in % Mashed

Each of us has a unique set of olfactory receptors. About *** of our ...

2.3 Online interest in truffles

Over the observed period, searches peaked in October **** with an index of **.*, followed by another notable peak in November **** with **.**. The lowest searches occurred in May **** with an index of **. After a relatively low start in ****, interest gradually increased to a maximum in the fall, typically a period of increased truffle harvest and consumption. This pattern is repeated in ****, with a significant increase from September (***), before declining again in the winter and spring months of ****. The trend shows a clear seasonality in online truffle searches, with greater interest during the fall months.

Truffle search trends Italy, ****-****, index Google Trends, Businesscoot Processing

Data on online searches show Umbria leading with an index of ***, followed by Molise with ** and Marche with **. These regions are particularly known for their tradition and production of truffles, which explains the high volume of searches. Tuscany (***). This lower interest could result from a lower local tradition or availability of truffles than in the central and northern regions. In general, these data show a concentration of interest in the central regions.

Region Truffle (***) Umbria *** Molise ** Marche ** Tuscany ** Abruzzo ** Basilicata ** Emilia-Romagna ** Piedmont ** Latium ** Liguria ** Aosta Valley ** Lombardy ** Veneto ** Campania ** Calabria ** Apulia ** Friuli-Venezia Giulia ** Trentino-Alto Adige ** Sardinia ** Sicily **

For the ...

2.4 New demand trends

These examples show how the truffle market is adapting to new consumer needs and emerging market trends.

TruffleOils and Pastes: Demand for truffle oils and pastes is growing as these products offer a convenient way to add truffle flavor to various dishes. For example, white truffle oil is used to season pizzas, seafood, mashed potatoes, spring salads, and scrambled eggs(***). Truffle Powders: Truffle powders, obtained through drying processes, are prized for their ability to preserve truffle flavor and can be easily incorporated into different recipes, such as toppings for potato chips and popcorn(***). Oregon Truffle Festival: In the United States, events such as the Oregon Truffle Festival are becoming increasingly popular. These events bring together truffle enthusiasts, chefs and truffle hunters, offering hands-on truffle hunting experiences and tastings(***). Alba Truffle Fair: In Italy, fairs like the one in Alba are famous for their importance in the truffle industry. The fair not only attracts thousands of visitors each year, but also offers a dynamic marketplace for buying fresh truffles directly from hunters(***). Direct Online Sales: Truffle hunters are increasingly using online platforms to sell their products directly to consumers. For example, some hunters upload photos of their fresh truffles to social media ...

3.1 Market structure overview

The truffle market value chain includes several stages and actors.

First, it is important to make a distinction between the different types of terrain in which truffles can be harvested:

The natural truffle ground: here, the truffle grows spontaneously without human intervention. The only intervention by the truffle farmer involves searching for and collecting the truffle. In this type of terrain, truffle collection is open to anyone with a truffle harvesting license; Truffle cultivation : In this type of soil, specific trees are planted, whose roots have been colonized by mycorrhiza. Depending on the type of truffle desired, excluding white truffles whose artificial cultivation is not possible, specific trees are selected. In this case, truffle collection is not open to everyone, provided that the owner of the truffle farm obtains specific permission from the local authorities. Controlled truffle farms These are natural truffle farms, but in this case the land is subject to environmental improvements, such as planting new trees. In this case, collection is not open to everyone, and only the owner or trustee of the land can collect truffles there. [***]

The value chain begins with the different suppliers of equipment and raw materials, which can vary greatly depending on the ...

3.2 Umbria and the Marches lead national production

In terms of individual regions, the national territory can be divided into three macro areas: the first group includes the main production regions in terms of quantity of white and black truffles: Umbria, Marche, and Tuscany; the second group includes regions specializing in the production of one type of truffle: this is the case with Latium and Abruzzo (***); the third group includes all other regions with modest production of both black and white truffles. Source: ****

Istat, through the *th GENERAL CENSUS OF AGRICULTURE, provides us with data on the number of truffle farms in Italy by region. analysis of this data shows that there is a concentration of farms in Central Italy. In Italy there are **** farms in the truffle sector: the regions with the largest presence of truffle farms are Umbria (***).

Again analyzing Istat's *th GENERAL CENSUS OF AGRICULTURE , it shows that the regions with the greatest presence of truffles are still Umbria and Marche, with **** and **** hectares of land, respectively. Since there are a total of **** hectares of truffle terrain, Umbria and Marche alone account for ** percent of the land in the Italian territories. They are followed by Abruzzo, with *** hectares, Emilia-Romagna, with *** hectares, and Tuscany, with *** hectares. Overall, ...

3.3 Main manufacturing companies

The main ones are:

Urbani Tartufi: This is one of the oldest and most renowned truffle companies in the world, founded in **** by Costantino Urbani. The company began by exporting fresh truffles from Italy to France, and quickly expanded its exports to other European countries. The passion and dedication for truffles has been passed down from generation to generation, with each new generation contributing significant innovations and developments. The company, now run by the sixth generation of the Urbani family, continues to innovate while maintaining traditions. It is headquartered in Sant'Anatolia di Narco, Umbria, with a second plant in Terni. It uses advanced technologies to process and preserve truffles, enhancing their natural characteristics. Urbani Tartufi has a global presence with branches in many of the world's major cities, such as New York, London, and Tokyo, and holds a ** percent global market share. The company offers a wide range of products, from fresh to processed truffles, such as truffle oils, sauces, and butters. It is also involved in cultural and educational initiatives, such as the Truffle Museum and Truffle Academy, and the Paolo Urbani Foundation, which promotes appropriate regulations and the training of new experts in the industry(***).

TartufLanghe: Established in **** by ...

3.4 Main distributors

The main companies without direct involvement in production are:

Appennino Food Group: Founded in **** and located in Savigno, in the heart of the Bolognese Apennines, the company benefits from a region naturally rich in high-quality truffles. The company has made a name for itself with a wide range of products including fresh truffles, such as white and black truffles, and a variety of derived products, including truffle-flavored creams, sauces, oils, and butters. It does not stop at truffles alone; it also offers fresh and dried porcini mushrooms, as well as other gastronomic specialties. A distinguishing feature is its unwavering commitment to quality and traceability. The company uses traditional methods combined with modern technology to ensure that each product is fresh and authentic. This commitment is certified by various quality certificates the company has earned over the years. The target market is both national and international. Their products find their way into high-end restaurants, luxury hotels, and gourmet stores. Through partnerships with distributors and retailers, the company is able to continually expand its sales network, taking the delights of Italian truffles around the world.

Moscato Tartufi: Specializes in the selection, collection and shipping of the finest Italian truffles, with a strong focus ...

3.5 Traffic analysis and online advertising of major players

Organic traffic refers to visitors who come to a website through non-paid search engine results. This type of traffic is obtained through good search engine optimization (***), which includes the use of relevant keywords, quality content, backlinks, and other factors that improve the site's ranking in search results. Organic traffic is often considered valuable because users who arrive this way tend to be more interested and engaged with the site's content.

These figures are estimates, they may deviate from the actuals, but they allow you to keep a rough view of the popularity of the e-commerce sites in question.

Annual organic traffic of key players Italy, **/**/**** - **/**/****, in millions Semrush, Businesscoot processing

Data represent organic traffic during the period from June *, **** to June *, ****, expressed in millions of visits. Urbani Tartufi leads with *.** million visits, while Sabatino Tartufi closes the ranking with just *.** million. Urbani Tartufi has nearly ** percent more traffic than Tartufi Morra, which ranks second with *.** million visits. Italia Tartufi and Jimmy Tartufi, with *.** and *.** million visits, respectively, show lower but comparable traffic. Other players such as TartufLanghe, TecTartufi, and Giuliano Tartufi have similar traffic, varying from *.** to *.** million. Among the minor players, Moscato Tartufi, Tartufi Bianconi, and Tartufi Ponzio have ...

4.1 Supply overview: the different truffle species

4.2 A wide variety of prices

The consumer price index increased steadily from **** to ****. Starting from a value of **.* in ****, the index rose to ***.* in ****, marking an overall increase of ** percent. This trend shows a particularly sharp increase in the last two years, with a **.*% increase from **** to **** and an additional *.*% from **** to ****.

Consumer price index of roots, non-starchy bulbs, mushrooms and other vegetables for the whole community (***) - annual averages Italy, ****-****, index Istat

4.3 Products and services revolving around truffles

Truffle products

Fresh truffles account for only a limited share of the supply of the Italian truffle market; about ** percent of truffle production is sold to the processing industry, which turns it into truffle products. These include:

Truffle oil and vinegar: These are refined condiments that add a luxurious touch and unique flavor to many culinary preparations. Truffle oil is generally made by infusing extra virgin olive oil with black or white truffles. Truffle vinegar combines the acidity of balsamic vinegar with the distinctive aroma of truffles. Truffle spreads and sauces: These are creamy preparations that combine the flavor of truffles with other ingredients, such as mushrooms, cheese and cream. Truffle pasta: A specialty that incorporates truffles directly into the dough or as a topping. Truffle cheese: This is a dairy product that incorporates black or white truffle shavings. Sliced truffle preserved in oil: This is a preservation method that allows the truffle's aroma and flavor to be maintained for extended use. Truffle slices are immersed in olive oil or seed oil. Truffled vegetables: Innovative way to combine the freshness of vegetables with the aroma of truffles. These are usually pickled or pickled vegetables flavored with truffle. Trufflesnacks: These are baked ...

4.4 Supply trends

There are new trends in demand revolving around processed truffle products, particularly because of their convenience, but also because of their longer shelf life.

Synthetic flavor: Real raw truffles gradually lose their aroma, flavor, texture, and quality from the time they are harvested. Unless one is eating a raw truffle that is directly cut or incorporated into food, it is likely that one is not eating real truffles. In fact, in recent times the flavor of truffles has been replicated using a synthetic compound. The flavor looks so much like the original truffle because it is chemically engineered to reflect the taste but also appeal to human taste buds. However, it lacks the natural, earthy tones and "flaws" that a real raw truffle would have.

Truffle oil: is an easy way to infuse truffle flavor into common food without including whole truffle pieces. Common examples are truffle fries, or truffle mayonnaise, which are increasingly sought-after products. This is made using any kind of natural oil and infusing it with truffle flavor (***). Although it has been around for a long time, and historically infused with real truffles, it is becoming more common in restaurants and supermarket aisles.

Salt: While initially using a ...

5.1 National and regional regulations

Truffle Harvesting

The collection of wild products such as truffles has been regulated from **** to the present by the Civil Code (***), which have regulated the property rights of wild and cultivated truffles and consequently the rules of access to and use of truffle resources for human consumption. In addition, almost all regions have legislated on the subject in accordance with the provisions of Law No. ***/**, which regulates truffle research and collection. The definition of property rights is fundamental to the possibility of marketing legal products according to Articles **** and **** of the Civil Code. Although subsequent amendments to the regulations have provided greater clarity in the ownership rights of truffles, further adjustment is needed today to make the system of truffle search and collection rules more efficient

Who is the owner of the truffle?

Law No. *** of December **, ****, states in Article * that

The collection of truffles is open in forests and non-cultivated land The truffle becomes the property of the person who finds it, excluding exceptions:

the truffle becomes the property of the owner of the land where it was found only if its owner claims ownership through the affixing of tables in the perimeter of the area where he wants to ...

6.1 Segmentation

• Urbani Tartufi
• Tartufi & Delizie
• Appennino Food Group
• Sabatino Tartufi
• Jimmy Tartufi
• Giuliano Tartufi
• Tartuflanghe
• TecTartufi
• Tartufi Morra
• Agritaste
• Italia Tartufi
• Tartufi Bianconi