Report : Europe Black Truffles Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Category (Organic and Conventional), Applications (Culinary; Oil; Sauces, Spreads, and Butter; and Others), and End Use (Processing, Food Retail, and Foodservice)
At 8.4% CAGR, the Europe Black Truffles Market is speculated to be worth US$ 213.19 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe black truffles market was valued at US$ 131.21 million in 2022 and is expected to reach US$ 213.19 million by 2028, registering a CAGR of 10.3% from 2022 to 2028. Growth of black truffles in developing countries Europe black truffles market and product innovation initiatives by end users are the critical factors attributed to the Europe black truffles market expansion.
Black truffle manufacturers are significantly investing in research & developments, partnerships, and collaborations to launch innovative products to attract a large consumer base. Food and beverage vendors are launching new truffle-based products, such as sauces and oils, that lead to consumption of black truffles in the regional market. The condiment option features a mix of fine and coarse sea salt with a purposeful number of black truffles. Such product launches help companies establish long-term relationships with end-use consumers. Some food service companies are adding black truffles to their products. It is a premium meal containing the finest langoustine, chopped Kobe beef, the world's best Beluga caviar, and black truffle cheese and finished with gold leaf and edible flower petals. Thus, the use of black truffle in such premium meals boost the sale of black truffles. Hence, such product innovations by end users further drives the Europe black truffles market growth.
On the contrary, fluctuation in prices and seasonal availability of black truffle hurdles the growth of Europe black truffles market.
Based on category, the Europe black truffles market is bifurcated into organic and conventional. The fresheners segment held 86.5% share of Europe black truffles market in 2022, amassing US$ 113.54 million. It is projected to garner US$ 183.27 million by 2028 to expand at 8.3% CAGR during 2022–2028.
Based on application, the Europe black truffles market is segmented into culinary; oil; sauces, spreads, and butter; and others. The culinary segment held 76.4% share of Europe black truffles market in 2022, amassing US$ 100.24 million. It is projected to garner US$ 161.99 million by 2028 to expand at 10.1% CAGR during 2022–2028.
Based on end use, the Europe black truffles market is segmented into processing, food retail, and foodservice. The foodservice segment held 64.3% share of Europe black truffles market in 2022, amassing US$ 84.39 million. It is projected to garner US$ 136.22 million by 2028 to expand at 8.3% CAGR during 2022–2028.
Based on country, the Europe black truffles market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 33.7% share of Europe black truffles market in 2022. It was assessed at US$ 44.26 million in 2022 and is likely to hit US$ 72.38 million by 2028, exhibiting a CAGR of 10.3% during the forecast period.
Key players profiles in the Europe black truffles market report Arotz SA; Great Southern Truffles Pty Ltd; L'Aragonais Food Supplies SL; LAUMONT TRUFFLES SLU; Les Freres Jaumard SaRL; Old World Truffles; SABATINO NA LLC; TRUFFUS SAS; and Trufo, among others.
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