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MARKET OVERVIEW

1.1 Presentation and definition of the truffle market

The truffle refers to a type of fungus which is created by a ectomycorrhizal fungus ascomycete and has a bulging shape. A single fungus can give birth to several truffles. Truffle harvests are largely dependent on meteorological conditions like drought.

There are two main categories of truffles on the market:

  • The black truffle or Perigord truffle which can be found in calcareous soils under truffle trees from 1 to 15cm deep
  • The white truffle which is the most popular and expensive variety on the market and can be found mainly in Italy and Croatia.

The French market is facing the continuous internationalization of truffle production as its national production is dwindling . The production was exported to the United States, Australia, Israel, Argentina... All these emerging markets benefit from the seasonal pattern of harvests in Europe. Their products are sold for export between two harvest periods in Europe

The truffle market is composed of a multitude of small players who are breeders, harvesters and distributors of their products . The sale of truffles on French territory is organized around different markets located in different communes more or less recognized for the quality of the products offered. Some actors are mobilizing to continue to modernize the sector and find government support.

1.2 A global market still dominated by Europe

About ***,*** acres of truffle plantations dot Spain, France, and Italy and provide about ** percent of all the truffles on the legal market. The world truffle production is therefore dominated by France, Spain and Italy whose black truffle is renowned worldwide.  [***]

While France dominated the European market, it tends to lose its ...

1.3 The French market, a world leader

According to Le Monde, the sector generated a turnover of ** million in ****, ** million of which came from the sale of production.

According to Challenges, the truffle harvest in France has gone through from *,*** tonnes per year at the beginning of the **th century to **,* tons in **** and now seems to vary ...

1.4 Foreign trade in truffles

The data below are obtained from the code **** which groups together mushrooms and truffles, it is therefore larger than our market but gives an idea of the trends in the truffle market.

The amount of truffle imports into France has been decreasing since ****, it has gone from **.** million USD to **.** million ...

DEMAND ANALYSIS

2.1 A seasonal and luxury product

This is a luxury micro-market on which the margins of the players remain supported by a demand driven by the great restaurateurs wishing to work the product, or wealthy French and foreigners who associate this product with culinary luxury.

The demand for truffles is also subject to significant seasonality with a ...

2.2 A constantly increasing demand

The demand for truffles has been steadily increasing since **** according to France AgriMer . Indeed the truffle imports by value have gone from * million in **** à **.** million in ****.

At the same time, the french imports of truffles (***) were of ** million in **** for **,***kg and **.**M€ in **** for **,***kg The volume of imports has ...

MARKET STRUCTURE

3.1 Many small producers and a few powerful independents

There are four major production regions in France :

The Central West (***) The South West (***) The Southe East (***) The Central East (***)

The majority of the production is largely carried out in the South-East, particularly in the Drôme, Vaucluse, and Alpes de Haute Provence according to Planetoscope . In France in **** we counted ...

3.2 France, a major producer in Europe

This graph proposed by the FFT shows the volume of black winter truffles harvested in certain European Union countries between **** and ****. During the agricultural period ****/****, Spain produced more than ** tonnes of truffles. France and Italy were also two of the largest producers in the European Union, with a collective production volume ...

3.3 A multitude of local markets along with a few franchises and an emerging online sales force

According to the French Truffle Federation in ****:

**% of the production is sold on wholesale markets **% in retail markets in nearly *** markets, ** to **% live (***)

The marketing of truffles in France is mostly carried out small local actors present in the markets according of important areas of the truffle market: the market ...

3.4 The truffle harvest

The high price of truffles is due to its rarity but also by the harvesting method used. Indeed, even todya, the truffle is still harvested by hand and often with the help of truffle and pig dogs trained to find truffles buried underground

The pigs are used because of their natural ...

ANALYSIS OF THE OFFER

4.1 The main categories of truffles

There are many types and species of truffles, including the

Tuber melanosporum - black truffle Black Perigord truffle called the "queen of truffles", it is probably the most emblematic. Tuber magnatum - white Alba truffle, the most popular and expensive variety on the market is found mainly in Italy and Croatia. ...

4.2 Price volatility

The price of a truffle on the market depends on its size, quality and species. The price range can vary between **€ and several thousand euros making it a luxury product. [***]

FranceAgrimer

The price of truffles evolves according to market prices which are governed by supply and demand. There is thus a ...

4.3 The success of the Spanish truffle

Truffle cultivation in France is increasingly under attack by strong competition from Spain. For the last years, the production of this neighbour has exceeded that of France, which harvests at best only half of what it consumes, according to the French Federation of Truffle Growers. The very recent Spanish truffle farming ...

REGULATION

5.1 A sector supervised and supported by public authorities

In **** a decree on marketing and quality control of truffles appeared: since then, the quality requirements related to the fresh state of the truffles produced as well as labelling for marketing are the most important regulatory requirements for quality control. The labelling must indicate the name of the species, the country ...

5.2 The truffle victim of its success: truffle products without truffles

The magazine ** Million Consumers conducted a survey in December **** on about thirty truffle products in order to determine the true proportion of truffles they contained . Indeed, the regulation requires products bearing the word "truffle" to contain at least *% truffle and *% when the product is indicated to be "with truffle" .

In addition, ...

POSITIONING OF THE PLAYERS

6.1 Segmentation

  • La Maison Pebeyre
  • Maison Baumont
  • Truffe Extra France
  • Artisan de la Truffe (Groupe Bertrand)
  • Mathez
  • Truffe France
  • Plantin
  • Le Soleil de Carpentras
  • Signorini Tartufi
  • Comtesse du Barry

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Hugo S.

chargé d'études économiques, Xerfi

Hugo S.

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Mathieu Luinaud

Associate Consultant

Mathieu Luinaud

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Education Formation
Robin C.

PhD Industrial transformations

Robin C.

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Pierre D.

Analyst

Pierre D.

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Arnaud W.
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Ross Alumni Club France

Arnaud W.

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Amaury de Balincourt
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Analyste de marché chez Businesscoot

Amaury de Balincourt

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Maelle V.

Project Finance Analyst, Consulting

Maelle V.

Héloise Fruchard

Etudiante en Double-Diplôme Ingénieur-Manager Centrale

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Market Research Analyst

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Market Research Analyst @Businesscoot

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Market Research Analyst @Businesscoot

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Jules D.

Consultant

Jules D.

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Alexia V.

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Emil Ohlsson

Emil Ohlsson

Anna O.

Anna O.

Gabriel S.

Gabriel S.