Global Truffle Oil Market - 2022-2029

Global Truffle Oil Market - 2022-2029

Market Overview

Truffle oil is an ingredient used to enhance the flavor and aroma in a dish. The ingredient is used as finishing oil in various dishes, including truffle fries, pasta dishes, pizzas, and puréed foods such as mashed potatoes and deviled eggs. Truffle oil is less expensive and is significantly less expensive than fresh truffles. Truffle oil is frequently used to train truffle-hunting dogs and pigs. Truffle oil is preferred for home cooking, and it is a great topping for various dishes, ranging from steaks to pasta. It helps to conserve healthy blood pressure and a cholesterol level that increase health benefits awareness of the consumption of truffle oil boost the market growth in the forecast period.

The global truffle oil markets were valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 4.54% during the forecast period (2022-2029).

Market Dynamics: Increasing consumer awareness regarding its health benefits is expected to drive the market growth

Truffle oil is usually produced by using heart-healthy oils such as olive as base oil. Regular consumption of truffle oil helps to boost heart health. Truffle oil is rich in polyphenols, natural compounds with antioxidant properties that can prevent oxidative stress and damage to body cells. Polyphenols help to reduce inflammation, which is believed to be linked to a long list of chronic conditions, including coronary heart disease. Research shows that polyphenols can effectively reduce cholesterol and triglycerides and lower blood pressure which is good for heart health. According to the journal, BMC Medicine even found that a higher intake of olive oil is associated with a reduced risk of heart disease. According to the study published in the European Journal of Clinical Nutrition followed 187 adults over three years stated that a diet rich in olive oil, the primary ingredient in truffle oil, was associated with body weight reduction. Dietary fat takes more time to digest and slows the emptying of the stomach, resulting in increased satiety and decreased hunger. Fat can also reduce ghrelin levels, the hormone responsible for stimulating hunger, more than carbohydrates, helping to ward off cravings and promote weight loss.

Healthy fats in truffle oil have numerous health benefits, especially concerning the prevention of cognitive disorders like Alzheimer’s and Parkinson’s. Also, truffle oil helps block the growth and development of cancer cells and suppress cancer growth. Truffle oil has some beneficial antioxidants that can prevent the formation of cancer-causing free radicals in the body. Truffle oil is rich in vitamin E that reduces inflammation and may aid in treating conditions like atopic dermatitis, psoriasis and acne. Truffle oil also help to keep blood sugar in levels. These health benefits drive market growth in the forecast period.

Market Segmentation: White truffle oil segment accounted for the highest share in global truffle oil market

White truffle oil is made using white truffles, often specifically the Alba truffle, native to Italy. This Italian truffle differentiates itself by being one of the rarest and most expensive species of truffles in the world. White truffle oil stands out from other truffles with its lighter, slightly peppery, and garlicky taste. White truffle oil has pale white flesh with a marble-like appearance and a delicate flavor. White truffles are incredibly pricy. Compared to its Black Truffle Oil counterpart, White Truffle Oil is less dark and earthy, meaning it pairs well with lighter, more delicate foods. It is mostly used in the fish fillet. It is also used in whipping white pizza. Increased white truffle oil demand in the food industry and restaurants drives the market growth. Also, increasing research and development activities in the white truffle oil segment helps to boost market growth.

Geographical Penetration: Europe is the dominating region during the forecast period

Europe accounted largest market share in truffle oil due to increased consumer demand for truffle and olive oil. Germany, the U.K., France, and Italy are some of the leading countries in the region because the increase in consumer disposable income drives the market growth. European consumers have a higher standard of living with higher disposable income. Urbani, Truffle hunter, Marcel Plantin, and Monini are some of the leading key players who launched new products in the market that helps to boost the truffle oil market in the forecast period.

Competitive Landscape:

There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Some major market players are Wild Harvest, MarDona Specialty Foods, Ltd., Monini, BLACK BOAR TRUFFLE, TruffleHunter Inc., Urbani, AROTZ, La truffle du Ventoux, Marcel Plantin, and Truffle Hunter, among others. Some of the major key players launched new products to increase their sales. For instance, in September 2022, Truff launched a truffle oil market made from white winter truffles. TRUFF White Truffle Oil infuses real white winter truffles with olive oil to create exceptional finishing oil that’s bright, decadent, and unmistakably luxurious. Nbrosia launched white and black truffle oil in the market. The white truffle flavor is intense and reminiscent of garlic and cheese. It is made from the natural white truffle (Tuber magnatum) flavor with other natural flavors (20%). It contains milk and wheat. The black truffle flavor is elegant with earthy and nutty dimensions. It is made from two oil bases such as coconut oil and olive oil.

COVID-19 Impact: Negative impact on the global truffle oil market

The demand and sales of truffle oil have experienced a sudden fall due to the outbreak of the COVID-19 pandemic. Country-wise lockdown in various countries has resulted in the disruption of trade activities, which slowed the growth of this industry. The pandemic has negatively impacted the market worldwide. Consumption of truffle oil decreased due to the closure of hotels and restaurants during the pandemic. In covid, which impacted their disruption in the distribution network, truffle oil struggled to sell their finished products. Shutting down the food service industry impacted the market negatively. While global trade halted during the lockdowns imposed to control the spread of novel coronavirus, the food industry has been impacted by severe freight challenges. Most food categories witnessed a decline in sales volume due to a lack of demand and supply chain disruptions.

The global truffle oil market report would provide an access to approximately 61 market data tables, 55 figures and 170 pages