Market research

Mushrooms and truffles market in Iceland

Release date: Mar 27, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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Earlier Report Observations

Between 2018 and 2020, the Icelandic market for fresh mushrooms and truffles remained within a narrow range of 858 to 890 t, with a slight increase in 2019 followed by a contraction to 858 t in 2020.

The market volume surged by 39% to 1 190 t in 2021, marking a peak for the period, but then fell sharply by 28% to 854 t in 2022 before stabilizing at 838 t in 2023.

Import volumes fluctuated in the following years, reaching 341 t in 2025, when supplier Tartufingros reported a severely poor harvest of white truffles, reducing supply and driving up prices for this segment.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2025
    3. 4.1.1.3. Exports, 2018-2025
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Iceland
  1. 5.1.1. Annual dynamics of production in Iceland in kind, 2018-2023, t
  2. 5.1.2. Annual dynamics of production in Iceland in value, 2018-2023, $ US
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, t
    1. 6.1.2.1. Annual dynamics of product's imports to Iceland in kind, 2018-2025, t
    2. 6.1.2.2. Dynamics of product's imports in kind to Iceland by countries, 2018-2025, t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 6.1.3. Imports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Iceland in value, 2018-2025, K $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Iceland by countries, 2018-2025, K $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 6.1.4. Average price of product's imports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Iceland, 2018-2025, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to Iceland by countries, 2018-2025, $ US/t
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, t
    1. 6.2.2.1. Annual dynamics of product's imports to Iceland in kind, 2018-2025, t
    2. 6.2.2.2. Dynamics of product's imports in kind to Iceland by countries, 2018-2025, t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 6.2.3. Imports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Iceland in value, 2018-2025, K $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Iceland by countries, 2018-2025, K $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 6.2.4. Average price of product's imports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Iceland, 2018-2025, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to Iceland by countries, 2018-2025, $ US/t
7. Exports
1. 7.1. Exports (Direct Data)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, t
    1. 7.1.2.1. Annual dynamics of product's exports from Iceland in kind, 2018-2025, t
    2. 7.1.2.2. Dynamics of product's exports in kind from Iceland by countries, 2018-2025, t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 7.1.3. Exports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Iceland in value, 2018-2025, K $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Iceland by countries, 2018-2025, K $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 7.1.4. Average price of product's exports, $ US/t
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Iceland, 2018-2025, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's exports from Iceland by countries, 2018-2025, $ US/t
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, t
    1. 7.2.2.1. Annual dynamics of product's exports from Iceland in kind, 2018-2025, t
    2. 7.2.2.2. Dynamics of product's exports in kind from Iceland by countries, 2018-2025, t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 7.2.3. Exports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Iceland in value, 2018-2025, K $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Iceland by countries, 2018-2025, K $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 7.2.4. Average price of product's exports, $ US/t
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Iceland, 2018-2025, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's exports from Iceland by countries, 2018-2025, $ US/t
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, t
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, t
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2025
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production mushrooms and truffles in Iceland

In kind, 2018-2021, t

Top producers of mushrooms and truffles, 2018-2021

Source: SHEV.io

World map of production of mushrooms and truffles, 2018-2021

Source: SHEV.io

In 2019, Iceland's production of mushrooms and truffles reached its lowest point at 560.0 t. This was followed by a significant increase of 9.1% in 2020, when production peaked at 611.0 t. However, in 2021, production declined moderately by 4.9% to 581.0 t.

Annual dynamics of production in Iceland in kind, 2018-2021, t

Parameter		2019	2020	2021	CAGR
1	Change from last year	(3.4%)	9.1%	(4.9%)	0.1%

Source: SHEV.io

Exports mushrooms and truffles from Iceland

Exports in kind, t

The data shows irregular changes, indicating a volatile market environment. In 2020, exports hit their minimum at 0.6 t, marking a decline of 31.7%. This was followed by a dramatic surge in 2021, with exports rising by 1 376.5% to 8.8 t, which was the maximum value. The difference between the 2021 peak and the 2020 low was 14.8-fold.

Annual dynamics of product's exports from Iceland in kind, 2018-2021, t

Parameter		2019	2020	2021	CAGR
1	Change from last year	27.9%	(31.7%)	1 376.5%	134.5%

Source: SHEV.io

From 2018 to 2021, Greenland was the sole destination for Iceland's exports of mushrooms and truffles in kind, consistently accounting for 100.0% of total flows.

Structure of product's exports in kind by countries, 2018-2021

Source: SHEV.io

World map of product's exports from Iceland in kind, 2018-2021

Source: SHEV.io

Exports in value, K $ US

Volatility characterized the market behavior during these years. In 2020, exports in value terms were at their lowest, totaling 2 K $ US, which represented a decline of 58.6%. This was followed by an abrupt rise in 2021, with exports increasing by 1 059.6% to 24 K $ US, the highest value recorded. The peak-to-trough ratio between 2021 and 2020 was 11.6 times.

Annual dynamics of product's exports from Iceland in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	20.0%	(58.6%)	1 059.6%	79.3%

Source: SHEV.io

Throughout 2018 to 2021, Greenland played a dominant role in Iceland's exports of mushrooms and truffles in value terms, consistently accounting for 100.0% of total flows.

Structure of product's exports in value by countries, 2018-2021

Source: SHEV.io

World map of product's exports from Iceland in value, 2018-2021

Source: SHEV.io

Imports mushrooms and truffles to Iceland

Imports in kind, t

The data reveals irregular changes, pointing to a volatile market environment. In 2020, imports in kind dropped to their minimum at 247.7 t, a decline of 25.0%. This was followed by a steep uptick in 2021, with imports rising by 149.4% to 617.8 t, the maximum value. The shift from the 2020 low to the 2021 high was 2.5-fold.

Annual dynamics of product's imports to Iceland in kind, 2018-2021, t

Parameter		2019	2020	2021	CAGR
1	Change from last year	9.8%	(25.0%)	149.4%	27.1%

Source: SHEV.io

Over the period 2018 to 2021, the Netherlands, Ireland, and Poland were the main markets for Iceland's imports of mushrooms and truffles in kind. The Netherlands accounted for 55.6% of imports, Ireland for 22.5%, and Poland for 8.8%, together representing 86.9% of total flows.

Structure of product's imports in kind by countries, 2018-2021

Source: SHEV.io

World map of product's imports to Iceland in kind, 2018-2021

Source: SHEV.io

Imports in value, K $ US

In 2020, imports in value terms reached their minimum at 1 327 K $ US, marking a decline of 22.9%. This was followed by a rise in 2021 to 1 624 K $ US, an increase of 22.4% year-over-year. The maximum value was recorded in 2019 at 1 720 K $ US. Overall, from 2018 to 2021, imports increased by 5.5%, with a compound annual growth rate of 1.8%.

Annual dynamics of product's imports to Iceland in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	11.8%	(22.9%)	22.4%	1.8%

Source: SHEV.io

From 2018 to 2021, the Netherlands, Ireland, and Poland remained the principal suppliers of mushrooms and truffles to Iceland in value terms. The Netherlands accounted for 56.5% of imports, Ireland for 20.1%, and Poland for 8.9%, jointly making up 85.5% of total imports in value terms.

Structure of product's imports in value by countries, 2018-2021

Source: SHEV.io

World map of product's imports to Iceland in value, 2018-2021

Source: SHEV.io