At 9.4% CAGR, the Asia Pacific Black Truffles Market is projected to be worth US$ 85.44 million by 2028, says Business Market Insights

According to Business Market Insights research, the Asia Pacific black truffles market was valued at US$ 49.76 million in 2022 and is expected to reach US$ 85.44 million by 2028, registering a CAGR of 9.4% from 2022 to 2028. Wide application scope of black truffles and growth of black truffles in emerging region are the critical factors attributed to the Asia Pacific black truffles market expansion.

Black truffle is a fungus that imparts a distinct flavor and aroma to numerous food items. It is also used as a garnish on various foods, including pizza, pasta, eggs, risotto, and spaghetti, and used as an ingredient in meat meals to give the food a strong flavor. Moreover, black truffles are added as toppings to various food items to give them an opulent appearance. Thus, they are in high demand among end-users, such as Michelin-star restaurants and food companies, which play a key role in augmenting black truffle sales across the region.

Additionally, market expansion in food service applications depends on several variables, such as the rising popularity of fine dining and trying premium cuisine. Therefore, the rapid expansion of catering businesses, an increase in the number of gourmet and high-end restaurants, and a shift in customer preference for black truffle-infused foods propel the demand for black truffles in food service applications.

Black truffles are in high demand among food processing industries as black truffle is an essential ingredient in premium packaged food products, including black truffle-infused oil, cheese, honey, and sauces. TRUFF, the Australia-based manufacturer, provides black truffle oil, pasta sauce, mayo, hot sauce, and black truffle salt. Moreover, black truffles are used for household purposes as people are willing to prepare gourmet food with different luxury ingredients. Furthermore, black truffle usage is not limited to food and beverage products; it is also used in cosmetic products, including moisturizers, night creams, antiaging formulas, etc. Therefore, the rising usage of black truffles in various applications propels the growth of the Asia Pacific black truffles market.  

On the contrary, fluctuation in prices and seasonal availability of black truffle hurdles the growth of Asia Pacific black truffles market.

Based on category, the Asia Pacific black truffles market is segmented into organic and conventional. The conventional segment held 92.5% share of Asia Pacific black truffles market in 2023, amassing US$ 46.03 million. It is projected to garner US$ 78.53 million by 2028 to expand at 9.3% CAGR during 2022–2028.

Based on applications, the Asia Pacific black truffles market is segmented into culinary; oil; sauces, spreads, and butter; and others. The culinary segment held 81.2% share of Asia Pacific black truffles market in 2023, amassing US$ 40.42 million. It is projected to garner US$ 68.90 million by 2028 to expand at 9.3% CAGR during 2023–2028.

Based on end user, the Asia Pacific black truffles market is segmented into processing, food retail, and foodservice. The foodservice segment held 75.5% share of Asia Pacific black truffles market in 2022, amassing US$ 37.59 million. It is projected to garner US$ 64.06 million by 2028 to expand at 9.3% CAGR during 2022–2028.  

Based on country, the Asia Pacific black truffles market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that the Rest of Asia Pacific captured 35.0% share of Asia Pacific black truffles market in 2022. It was assessed at US$ 17.42 million in 2022 and is likely to hit US$ 29.69 million by 2028, exhibiting a CAGR of 9.3% during 2022–2028.  

Key players operating in the Asia Pacific black truffles market report are FRIEND & BURRELL, Great Southern Truffles, Hazel Hill Pty Ltd, and Perigold Truffles of Tasmania Pty. Ltd., among others.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com