BLACK TRUFFLE – ECONOMIC STUDY OF THE WORLD MARKET FOR TRUFFLES

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THE ECONOMIC ANALYSIS OF BLACK TRUFFLE THAT YOU WILL NOT FIND IN ANY OFFICIAL STUDY, IN TRUFLAND TOTALLY FREE!

We have prepared the best economic study of truffles worldwide, we compare the different markets and we dare to quantify the commercial volumes that everybody hides, you dare to discover it with us!

You know that among the more than 40 types of truffles only 4 stand out for their commercial aspect and dominate the world truffle market:

Tuber melanosporum – Black or Perigord Truffle – accounts for more than 40% of the world truffle market in terms of annual production.
Tuber Aestivum – Summer Truffle – Burgundy Truffle (Tuber uncinatum) – accounts for another 40% of the world truffle market.
Tuber Magnatum – Italian or Piedmont White Truffle. Undoubtedly the most valued, although its cultivation is still very scarce. It does not account for more than 10% of annual production.
Tuber borchii or bianchetto. Truffle of very little economic value and low annual production does not account for more than 10% of annual truffle production.

We focus on the economic analysis of the Black Truffle or Périgord Truffle because it is the one that has the greatest economic impact worldwide due to its high market price and high commercial demand.

As we have told you in other posts of our blog, the truffle market worldwide is a hidden market, without commercial transparency, where producers hide the real production figures from the distributors in order to raise the price per kilo in the different local truffle markets.

We have prepared our own market study, comparing official production and retail sources and we want to share it with you. Therefore, if we make real production calculations based on the hectares currently planted in the different markets, we obtain very different data from that published in different specialized media, for example in Spain you can read that between 20 and 60 tons are produced annually, If we really make the average calculation per hectare with only 15 kg of production per hectare we get in Spain more than 220 tons estimated annually and the number of hectares increases year after year by about 20% annually, in addition we have hectares that never come into production but there are also hectares with more than 300kg per hectare annual production so estimate an average of 15 kg per hectare per year is quite a conservative estimate.

We estimate that the annual market for black truffle production in 2020 will exceed 700 tons, but it is still insufficient since the annual demand for black truffle worldwide is estimated to exceed 1,000 tons per year so it is still necessary to increase the number of hectares in production and professionalize the sector with the latest developments in terms of conservation and cleaning of truffles in order to meet all health requirements to ensure quality consumption and responsible marketing of this gastronomic delicacy, without fraud and ensuring the traceability of each truffle.

It is interesting to note that Spain accounts for more than 30% of world production of Black Truffle Tuber Melanosporum, of which almost 80% is produced in Aragon in the provinces of Teruel and Huesca, it is also relevant to know that Spain sells to France almost 80% of its annual production so the official data of French truffle is often distorted as it is largely Spanish truffle marketed by France.

PRODUCCION ANUAL DE TRUFA NEGRA ESTIMADA POR TRUFLAND – COMPARATIVA DE PRODUCCION ANUAL VS MERCADO RETAIL POR PAISES A NIVEL MUNDIAL.
MERCADO TRUFA NEGRA ESPAÑA    
 202020252030Market Share
HECTAREAS PRODUCCION15.00018.00021.600
KILOS225.000270.000324.000
MERCADO225.000.000 €270.000.000 €324.000.000 €32,61 %
     
MERCADO TRUFA NEGRA FRANCIA    
 202020252030Market Share
HECTAREAS PRODUCCION20.00024.00028.800
KILOS300.000360.000432.000
MERCADO300.000.000 €360.000.000 €432.000.000 €43,48 %
     
MERCADO TRUFA NEGRA ITALIA    
 202020252030Market Share
HECTAREAS PRODUCCION6.0007.2008.640
KILOS90.000108.000129.600
MERCADO90.000.000 €108.000.000 €129.600.000 €13,04 %
     
MERCADO TRUFA NEGRA RESTO EUROPA    
 202020252030Market Share
HECTAREAS PRODUCCION1.0001.2001.440
KILOS15.00018.00021.600
MERCADO15.000.000 €18.000.000 €21.600.000 €2,17 %
     
MERCADO TRUFA NEGRA OCEANIA Y CHINA    
 202020252030Market Share
HECTAREAS PRODUCCION2.0002.4002.880
KILOS30.00036.00043.200
MERCADO30.000.000 €36.000.000 €43.200.000 €4,35 %
     
MERCADO TRUFA NEGRA EEUU – LATAM    
 202020252030Market Share
HECTAREAS PRODUCCION1.0001.2001.440
KILOS15.00018.00021.600
MERCADO15.000.000 €18.000.000 €21.600.000 €2,17 %
     
MERCADO TRUFA NEGRA RESTO MUNDO    
 202020252030Market Share
HECTAREAS1.0001.2001.440
KILOS15.00018.00021.600
MERCADO15.000.000 €18.000.000 €21.600.000 €2,17 %
     
MERCADO TRUFA NEGRA MUNDO    
 202020252030Market Share
HECTAREAS46.00055.20066.240
KILOS690.000828.000993.600
MERCADO690.000.000 €828.000.000 €993.600.000 €100,00 %
     
MERCADO GLOBAL TRUFA MUNDO    
 202020252030Market Share
MERCADO1.975.263.158 €2.350.563.158 €2.820.675.789 €35,23 %

As indicated in the prestigious market study carried out by Technavio, the global truffle market is a growing market, where a growth in truffle consumption is estimated at +19% by 2023.

In this graph you can see the comparison between world production of truffle and stable annual demand around 1,000 tons per year (Information extracted from the web micofora specialists in mycology.

REGISTERED IMPORTS OF TRUFFLES AND UNPROCESSED MUSHROOMS WORLDWIDE 2019

There are no data exclusively on imports of black truffles but if the entire category of mushrooms and truffles, the data shown are in millions of dollars and the sum recorded is globally imports worth $ 930M in 2019, of which it can be estimated that more than 40% corresponds to imports of Black Truffle Tuber Melanosporum, so the Asian market dominates the category of mushroom and truffle imports with more than 50% of the world market share, a trend that will be softened as the main growth in consumption of Black Truffle in the coming years will be focused on the European market.

REGISTERED IMPORTS OF TRUFFLES AND UNPROCESSED MUSHROOMS WORLDWIDE 2019

There are no data exclusively on imports of black truffles but if the entire category of mushrooms and truffles, the data shown are in millions of dollars and the sum recorded is globally imports worth $ 930M in 2019, of which it can be estimated that more than 40% corresponds to imports of Black Truffle Tuber Melanosporum, so the Asian market dominates the category of mushroom and truffle imports with more than 50% of the world market share, a trend that will be softened as the main growth in consumption of Black Truffle in the coming years will be focused on the European market.

In addition, if we analyze the trend in world consumption, e-commerce continues to grow at incredible rates, in 2014 worldwide accounted for more than 551 billion euros and in 2018 more than 1,047 billion which represents an annual growth of 100% in just 5 years and also continues the trend with growth of 20% per year so if everything continues at this pace when it will mean the global consumption of black truffle online in 2030 Dare you calculate?

DHL e-commerce study – Export market guides by country.

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