Charcoal Market to Grow with a CAGR of 3.82% through 2028
Rising sustainable charcoal production is expected to
drive the Global Charcoal Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Charcoal
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Charcoal Market stood at USD 6.82 billion in
2022 and is anticipated to grow with a CAGR of 3.82% in the forecast period,
2024-2028. The global charcoal market has witnessed steady growth in recent
years, driven by a combination of factors that highlight its versatility and
wide-ranging applications. Charcoal, derived from the carbonization of organic
materials like wood, coconut shells, and agricultural residues, has evolved
beyond its traditional use as a cooking fuel. One of the primary drivers of the
global charcoal market is the ever-increasing demand for cooking and grilling
fuel, particularly in regions where access to modern energy sources is limited.
Charcoal's affordability and accessibility make it a staple cooking fuel for
millions of households, especially in developing countries. The aroma and
flavor it imparts to grilled food further contribute to its popularity.
Moreover, the global barbecue culture has been on the
rise, particularly in developed countries. Charcoal remains the fuel of choice
for barbecues and outdoor grilling enthusiasts. The convenience and unique
taste associated with charcoal-grilled dishes have fueled the demand for
charcoal products in these markets. Beyond household consumption, charcoal
plays a crucial role in various industries. The production of activated carbon,
a highly porous and adsorbent material, relies on charcoal as a key raw material.
Activated carbon is widely used in water purification, air filtration, gas
masks, pharmaceuticals, and cosmetics. The increasing emphasis on environmental
protection and water treatment is driving the demand for activated carbon, thus
indirectly boosting the charcoal market.
Sustainability has become a critical concern in the
global charcoal market. Traditional charcoal production methods often
contribute to deforestation and ecosystem degradation. In response, there is a
growing shift toward sustainable practices in the industry. Certification
programs such as the Forest Stewardship Council (FSC) certification are gaining
prominence, encouraging responsible charcoal sourcing from well-managed
forests. Consumers are increasingly seeking eco-friendly products, including
charcoal. This has led to the development of charcoal briquettes made from
biomass materials like coconut shells, sawdust, and agricultural waste. These
alternatives offer a cleaner and more sustainable option, reducing the
environmental footprint associated with traditional charcoal production.
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through XX Pages and an in-depth TOC on "Charcoal Market.”
The Global Charcoal Market is segmented into Product, Application,
Regional Distribution, And Company.
Based on the Product, Charcoal
Briquettes emerged as the dominant segment in the global market for Global Charcoal
Market in 2022. Charcoal briquettes tend to burn longer than lump charcoal, providing a
stable and sustained source of heat. This is particularly advantageous for
extended grilling sessions, such as barbecues and slow-cooking recipes. Charcoal
briquettes are generally more affordable than some specialty charcoal types
like Japanese or sugar charcoal. Their affordability appeals to a broad consumer
base, including those looking for a budget-friendly option. Charcoal briquettes
are widely available in grocery stores, supermarkets, and home improvement
centers, contributing to their popularity. Their accessibility ensures that
consumers can easily find and purchase them when needed. Charcoal briquettes
are versatile and can be used for various cooking methods, including grilling,
smoking, and roasting. This versatility makes them a go-to choose for many
outdoor cooking enthusiasts.
Based on the Application, the Restaurant Business
segment emerged as the dominant player in the global market for Global Charcoal
Market in 2022. Restaurants, especially those specializing in barbecue and
grilling, rely heavily on charcoal as a cooking fuel. Charcoal imparts a unique
smoky flavor to dishes that is highly sought after by many patrons. This
distinctive taste is difficult to replicate with other cooking fuels. Charcoal
provides consistent heat and precise temperature control, which is crucial for
chefs in maintaining the quality and flavor of their dishes. This level of
control is especially important for restaurants that offer grilled and smoked
meats and vegetables. Charcoal grills and open flames have an inherent visual
appeal that enhances the dining experience. Many restaurants incorporate live
cooking stations with charcoal grills to create a spectacle for diners and add
to the overall ambiance. Charcoal is versatile and can be used for various
cooking techniques, from high heat searing to slow and low smoking. This
versatility allows restaurants to offer a diverse menu with a wide range of
flavors and cooking styles.
Asia-pacific emerged as the dominant
player in the global Charcoal Market in 2022, holding the largest market share. Asia-Pacific is home
to a significant portion of the world's population, including rapidly
urbanizing countries like China and India. The increasing urbanization has led
to changes in lifestyle and dietary preferences, with more people embracing
outdoor cooking and grilling, thus boosting the demand for charcoal. Many
countries in Asia-Pacific have strong culinary traditions that involve the use
of charcoal for grilling and barbecuing. For example, countries like Japan,
South Korea, and Indonesia have a rich history of charcoal grilling as part of
their food culture. The expanding middle-class population in the region
has resulted in higher disposable incomes. This has led to increased spending
on outdoor activities, including barbecue gatherings, picnics, and camping,
where charcoal is a preferred fuel choice. restaurant and foodservice industry
in Asia-Pacific has been booming, driven by rising consumer affluence and a
growing foodie culture.
Major companies operating in Global Charcoal
Market are:
- NamCo Charcoal and Timber Products
- Rancher Charcoal
- E & C Charcoal
- Jumbo Charcoal (Pty) Ltd.
- Sagar Charcoal and Firewood Depot
- Subur Tiasa Holdings Berhad
- The Clorox Company
- Fire & Flavor
- Timber Charcoal Company LLC
- Mesjaya Sdn Bhd
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“The Global
Charcoal Market is poised for significant growth in the coming years, driven by
a confluence of factors that indicate a positive outlook for the industry.
Anticipated growth can be attributed to increasing consumer demand for outdoor
cooking and grilling experiences, with charcoal being the preferred choice for
imparting that authentic smoky flavor. Moreover, the growing awareness of
sustainable and eco-friendly charcoal production practices is reshaping the
market, as environmentally conscious consumers seek out responsibly sourced
products. The versatility of charcoal, which extends beyond traditional
grilling to include industrial applications like metallurgy and filtration,
also ensures a diverse range of demand drivers.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Charcoal Market - Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product (Lump
Charcoal, Charcoal Briquettes, Japanese Charcoal, Sugar Charcoal, Others), By
Application (Outdoor Activities, Restaurant Business, Metallurgical Fuel,
Industrial Fuel, Filtration, Others) Region and Competition”, has evaluated
the future growth potential of Global Charcoal Market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Charcoal Market.F
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