In the recent years, restaurants and food companies are focusing on repositioning themselves to align with the changing tastes and preferences of customers and to meet their growing requirements. Truffle oil adds great flavour and aroma to various recipes. It is widely used in several cuisines as a finishing oil or drizzled over many recipes to increase redolence, which makes the food more tempting and aromatic for customers.
The demand for truffle oil is increasing across the globe owing to its lower price as compared to fresh truffle despite the fact that it provides the same flavour and aroma to food. In the global market, the demand for truffle oil is the highest in North America and Europe. North America is also the world’s largest producer of truffle oil.
Growing Demand for Truffle Oil in the Food Industry and Restaurants:-
In the global market, the demand for truffle oil for household purposes is increasing owing to its ability to enhance the flavour and fragrance of different cuisines and dishes. Truffle oil is almost exclusively used as a finishing oil as it is drizzled over various dishes such as pizza, pasta, meat and various desserts. It is also added to whipped products such as deviled eggs and mashed potatoes to add depth to the flavour. Truffle oil is extensively used by chefs in restaurants to enhance the flavour and aroma of their recipes.
The extensive usage of truffle oil can also be attributed to its stable price, due to which it is more economical than fresh truffle. The stability of the price can be attributed to its synthetic production with the usage of certain chemical compounds that have the same aroma and flavour as that of fresh truffle. Truffle oil is manufactured by infusing real truffles in olive oil or grapeseed oil. The demand for truffle oil is increasing as it contains antioxidants as well as aids in the prevention of the tumour.
Global Truffle Oil: Market Segmentation
On the basis of type, the global truffle oil market has been segmented as-
- Black truffles
- White truffles
- Burgundy truffles
- Garlic truffles
On the basis of application, the global truffle oil market has been segmented as-
On the basis of distribution channel, the global truffle oil market has been segmented as-
Global Truffle Oil: key players
Some of the key players operating in the global truffle oil market are Wild Harvest; MarDona Specialty Foods, Ltd.; Monini; BLACK BOAR TRUFFLE; TruffleHunter Inc.; Urbani; AROTZ; La truffle du Ventoux; Marcel Plantin; Truffle Hunter; Sabatino Tartufi; Conservas Ferrer; Oregon White Truffle Oil; Savitar and Gazzarrini Tartufi. An increasing number of food industry players are showing keen interest in introducing truffle oil in their product line, which is also expected to increase the demand for the same in the coming future.
Opportunities for market participants:-
In the global market, the demand for truffle oil is increasing particularly for household consumption due to its in-depth aroma, flavour, health benefits and numerous other properties. Increase in the demand for processed food is leading to growth in investments in the establishment of new food outlets and restaurants, which is boosting the demand for truffle oil as it is used as a finishing oil in several recipes. Among confectionaries and bakery products, companies are using truffle oil to add extra flavour and aroma to cater to the demands of food-loving customers and connoisseurs.
Global Truffle Oil: A Regional Outlook:-
North America is the highest producer and consumer of processed food, and companies, such as MarDona Specialty Foods, Ltd.; BLACK BOAR TRUFFLE; Truffle Hunter Inc.; Oregon White Truffle Oil; etc., are present in the region, and these factors are expected to boost the demand for truffle oil in the region during the forecast period. Asia Pacific is witnessing significant growth owing to an increase in population as well as expected growth in the number of food industries over the forecast period, which is resulting in the rapid procurement of truffle oil in the region by key players. In addition, truffle oil is extensively used in the European region owing to the increasing consumption of processed food.
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