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Summary and extracts
1 Market Summary
1.1 Definition and presentation
The truffle is the fruiting body of a particular category of mushrooms known as hypogeous fungi, belonging to the genus Tuber and the family Tuberaceae. These mushrooms live underground, growing at a depth ranging from a few centimeters to, in very rare cases, one meter. The peculiarity of these fungi is precisely that they generate fleshy bodies, truffles precisely, through which they spread their spores and reproduce. Once ripe, truffles in fact produce an intense and penetrating aroma that overcomes the soil barrier and attracts wild animals that feed on them, spreading their brown, ellipsoidal, spiny or reticulated spores and facilitating their reproduction. The science that studies truffles is called hydnology.
There are 4 main categories of truffles on the market:
- Tuber Magnatum Pico(or Alba white truffle): Tuber magnatum Pico is definitely the most expensive truffle on the market, and is found only in Italy and some regions of Croatia.
- Tuber Melanosporum Vittadini (or Fine Black Truffle): This truffle is the best known truffle in the world, as it is also the most found in countries other than Italy, such as France, Spain, Bulgaria and Croatia.
- Tuber Uncinatum Chatin (or Uncinato Truffle): Autumn black truffle with delicate aroma and hazelnut-like flavor.
- Tuber Aestivum Vittadini (or Summer Truffle, Scorzone): Scorzone is the most widely harvested truffle found in Italy.
In 2024, the estimated value of the global truffle market is $404.71 million. This value increases progressively each year with a CAGR of 7.92% until it reaches $592.45 million in 2029.
The sector is highly fragmented in Italy and consists of a multitude of small operators: truffle farmers, truffle growers, manufacturing companies and distributors. The country continues to lead truffle production and export globally, boasting an ancient tradition of harvesting, thanks to the morphological conditions of the territory. In terms of domestic production, Umbria and Abruzzo are the most important regions, together accounting for 53 percent of Italian production.
Demand for truffles is closely linked to the restaurant, processing and tourism industries and is highly seasonal. It usually peaks in October-November, as it follows harvest calendars. In addition, every year there are more and more fairs and events organized around this product, leading to talk of a real truffle tourism, which attracts thousands of visitors.
The supply of derivative products has expanded considerably in recent years, as consumers can taste truffles in a more convenient format and at a less prohibitive price. In addition, many producers have decided to offer an organic line, which does not use any artificial or chemical elements in the production process, to adapt to consumer demands.
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, ...
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 ...
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 ...
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, ****-****, ...
2 Demand analysis
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 ...
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 ...
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 ...
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 ...
3 Market structure
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 ...
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 ...
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 ...
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 ...
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 ...
4 Supply analysis
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 ...
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 ...
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 ...
5 Rules and regulations
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 ...
6 Positioning of actors
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
List of charts presented in this market study
- Consumer price index of roots, non-starchy bulbs, mushrooms and other vegetables for the whole community (base 2015=100) - annual averages
- Italian per capita consumption of truffles and mushrooms
- Value of production sold of fresh or preserved mushrooms and truffles
- Sold and realized production of truffles and mushrooms
- Global truffle market value
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Latest news
Urbani Tartufi invests 8 million euros to expand a plant dedicated to truffles - 22/12/2023
- Year Urbani Tartufi was founded: 1852.
- Main location: Scheggino (Perugia).
- Planned expansion: Doubling the farm area by adding 8000 square meters, for a total of 16000 square meters.
- Investment for expansion: About 8 million euros.
- Main foreign markets:
- U.S. presence: Urbani Truffles USA with 60 employees and locations in New York, Miami, Chicago, Los Angeles, Las Vegas and San Francisco.
- Expansion in Asia: Plan to open branches in Hong Kong, Tokyo, Singapore and Bangkok within a year.
- Total revenues in 2022: 85 million euros, with 18% growth.
- Revenue target for 2025: To exceed 100 million euros.
- Truffle production target for the current year: 300 tons.
- Eco-friendly line introduced: "Natural Philosophy" with eight products in recyclable packaging.
- Truffleland: Company dedicated to growing truffle trees, with a volume of more than 150 thousand trees per year.
- Urbani Truffle Museum: Founded in 2012 and dedicated to founder Paolo Urbani, located in Scheggino.
- Urbani Truffle Academy: Training place for chefs and gastronomy experts from around the world.
Sabatino truffles, in Montecastrilli leading company in the industry active in 60 countries. - 24/07/2023
- Quality and International Recognition: Italian truffles are considered among the best in the world, with such high quality that they attract high-profile admirers such as Oprah Winfrey, Billy Joel, Martha Stewart and George Clooney.
- Top Companies in the Industry: Sabatino Tartufi, based in Montecastrilli, is one of the leading companies in the world of Speciality Food and a leader in truffle marketing and processing, with a presence in more than 60 countries.
- Quantity of Active Harvesters: In Italy, there are over 70,000 truffle gatherers, called "tartufai" or "cavatori," licensed by regions, provinces, mountain communities and municipalities.
- Economic and Geographic Impact: Truffle-related business in Italy is around half a billion euros, involving several regions from north to south of the country, including Piedmont, Umbria, Marche, Tuscany and Sardinia.
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