Report : North America 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 10.3% CAGR, the North America Black Truffles Market is speculated to be worth US$ 130.46 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America black truffles market was valued at US$ 72.55 million in 2022 and is expected to reach US$ 130.46 million by 2028, registering a CAGR of 10.3% from 2022 to 2028. Rising adoption of black truffle in personal care industry and product innovation initiatives by end users are the critical factors attributed to the North America black truffles market expansion.
Black truffles are gaining popularity in the personal care industry as they are used in manufacturing cosmetic products such as moisturizing creams, night creams, and anti-aging products. Due to their high vitamin C content, black truffles can remarkably fade forms of hyperpigmentation, including age spots, acne scarring, and freckles. Truffles are also rich in vitamin B12, which can help to prevent the formation of hyperpigmentation spots. Additionally, many experts believe that truffles can repair skin itself and defend against damage to make skin look and feel younger. Thus, due to these benefits, the personal care industry is adopting black truffle as one of the major ingredients. Truffoire is a Florida-based luxury brand committed to providing high-quality and advanced antiaging skin care products formulated with black truffles. The company's product portfolio includes black truffle deep renewal vitamin C serum, black truffle instant repair syringe, black truffle vitamin C cleanser, and black truffle illuminating facial and eye mask. Thus, the rising adoption of black truffles by the personal care industries is expected to become an emerging trend in the North America black truffles market during the forecast period.
On the contrary, fluctuation in prices and seasonal availability of black truffle hurdles the growth of North America black truffles market.
Based on category, the North America black truffles market is bifurcated into organic and conventional. The fresheners segment held 88.6% share of North America black truffles market in 2022, amassing US$ 64.29 million. It is projected to garner US$ 114.75 million by 2028 to expand at 10.1% CAGR during 2022–2028.
Based on application, the North America black truffles market is segmented into culinary; oil; sauces, spreads, and butter; and others. The culinary segment held 73.4% share of North America black truffles market in 2022, amassing US$ 53.25 million. It is projected to garner US$ 95.05 million by 2028 to expand at 10.1% CAGR during 2022–2028.
Based on end use, the North America black truffles market is segmented into processing, food retail, and foodservice. The foodservice segment held 63.2% share of North America black truffles market in 2022, amassing US$ 45.86 million. It is projected to garner US$ 81.77 million by 2028 to expand at 10.1% CAGR during 2022–2028.
Based on country, the North America black truffles market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 86.4% share of North America black truffles market in 2022. It was assessed at US$ 62.69 million in 2022 and is likely to hit US$ 112.61 million by 2028, exhibiting a CAGR of 10.3% during the forecast period.
Key players profiles in the North America black truffles market report Arotz SA; Great Southern Truffles Pty Ltd; LAUMONT TRUFFLES SLU; and SABATINO NA LLC, among others.
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