Truffles Market: 35% of Growth to Originate from APAC | Global Forecast 2021-2025

By Product (black truffles, white truffles, and others) and Geography (APAC, North America, Europe, South America, and MEA)

NEW YORK, Jan. 26, 2022 /PRNewswire/ -- The Truffles Market value is set to grow by USD 235.23 million, progressing at a CAGR of 11.59% from 2020 to 2025, as per the latest report by Technavio

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Key Truffles Market Report Highlights:

• Market growth 2020-2025: USD 235.23 million

• Growth momentum & CAGR: Accelerate at a CAGR of 11.59%

• YoY growth (%): 9.57%

• Performing market contribution: APAC at 35%

• Key consumer countries: US, Canada China, Mexico, and Italy

Regional Market Analysis

35% of the market's growth will originate from APAC during the forecast period. China is a key market for truffles in APAC. However, the market growth rate in APAC will be slower than the growth of the market in all other regions.

A rise in fine dining restaurants across China, Singapore, Hong Kong, and Macau, among other countries, will facilitate the truffles market growth in APAC over the forecast period.

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Key Vendors and Vendor Strategies

Angellozzi Tartuficoltura, Arotz S.A., Hazel Hill Pty Ltd, La Maison Plantin, LES FRÈRES JAUMARD, Sabatino Italia Srl, SAVITAR TARTUFI SRL, The Truffles Co., The Welsh Truffle Co., and Urbani Tartufi Srl, are few of the key vendors in the Truffles Market.

The market is fragmented, and the vendors are deploying growth strategies such as offering products with moderate differentiation to compete in the market.

• Angellozzi Tartuficoltura- The company offers different types of truffles such as Tuber Magnatum Pico, Tuber Melanosporum Vittadini, Tuber Aestivum Vittadini, and others.

• Arotz S.A.- The company offers different types of truffles including Melanosporum truffle, Aestivum truffle, and others.

• Hazel Hill Pty Ltd- The company offers different types of truffles such as Truffle Ponzu Japanese Style Dipping Sauce, Truffle Oils, and others.

Download our free sample report to get a brief understanding about various other vendors and the vendors strategies.

The Report Also Covers the Following Areas:

• Truffles Market size

• Truffles Market trends

• Truffles Market analysis

Segmentation Analysis

The truffles market share growth by the black truffles segment will be significant during the forecast period. 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 truffles are high in demand among end-users such as Michelin star restaurants and manufacturers of premium packaged food products that use truffles as an essential ingredient. Therefore, vendors that harvest black truffles with rich nutrients and aroma are expected to witness greater demand from such end-users. Hence, vendors are expected to adopt advanced techniques to cultivate black truffles during the forecast period to keep the nutrients, taste, and aroma intact in black truffles.

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Key Market Driver

Our analysts have extensively outlined the information on the key market drivers and their impact on the Truffles Market.

• Launch of truffle-based products:

To know about few other market drivers, trends, and challenges.

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Truffles Market 2021-2025: Key Highlights

• CAGR of the market during the forecast period 2021-2025

• Detailed information on factors that will assist truffles market growth during the next five years

• Estimation of the truffles market size and its contribution to the parent market

• Predictions on upcoming trends and changes in consumer behavior

• The growth of the truffles market

• 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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About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Email: media@technavio.com
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SOURCE Technavio