The global truffle market is forecasted to grow at a compound annual growth rate of over 20 percent during the period 2018-2023. The market size will increase by USD 375 million during the forecast period.

Black truffle was the largest segment within the overall market in 2018 and would remain so until 2023. The white truffles and other truffles segments will outperform the overall market. They will also grow faster during the period 2019-2023.

Asia Pacific,  Europe, and South America are the regions which will grow faster than the overall market. However, MEA and North America are the regions which will grow slower than the overall market.

Commercial farming has helped in reducing the supply and demand gap for truffles by increasing truffle production. Several leading truffle suppliers companies are driving the production forth. The market is led by companies such as Gazzarrini Tartufi, La Maison Plantin, La Truffe du Ventoux, and Sabatino Truffles among others.

On a separate note, truffle hunting has emerged as a major tourist attraction in truffle producing countries such as Italy, Spain, and France. Many major truffle producing countries are promoting truffle tourism. These include countries such as the UK and Greece.