Charcoal Market Size to Reach USD 6,946.21 million by 2029|Key maufcaturers: Plantar, Rancher Charcoal, E & C Charcoal, Jumbo Charcoal (Pty) Ltd., Sagar Charcoal and Firewood Depot
Market Analysis and Size
Data Bridge Market Research analyses that the charcoal market is expected to reach the value of USD 6,946.21 million by 2029, at a CAGR of 2.7% during the forecast period. The charcoal market report also covers pricing analysis, patent analysis, and technological advancements in depth.
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Charcoal Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail as below:
An increase in urbanization and rapid industrialization had created substantial demand for charcoal
The demand for charcoal is increasing mainly due to the urban population in developing countries. More than half the global population now lives in cities, and urban-dwellers are restricted to charcoal use because of the easiness of production, access, transport, and tradition. Urbanization has influenced the type of fuels used and also the total energy consumption for different functions which have further increased the demand for charcoal production across the region.
Rise in consumption of barbequed food
In much of the world, barbecuing is practically very common activity in many regions especially in the summertime. And while some people grill with gas and electricity, many people also prefer grilling with charcoal gives their food a particularly smoky flavor. Furthermore, charcoal is mostly used for recreational barbecuing in places like North America and Europe, but it's the primary cooking fuel in most African nations. In addition, it is reported that the market is majorly driven by the rising influence of grilled food worldwide and the growing adoption of grilled food among millennials. In addition, lockdown restrictions and the need to maintain social distancing due to the ongoing COVID-19 pandemic have resulted in more number of people staying at home. Thereby, an increasing number of people have been engaged in-home cooking and organizing small social events at home. This situation has resulted in an increasing demand for home cooking equipment and materials.
The shift towards the improved stove and higher efficiencies
Traditional stoves for heating and cooking at the household level are typically inefficient and generate considerable indoor air pollution, which can be deleterious to human health. Improved cook stoves have been deployed in many countries in attempts to improve cooking and heating efficiency and reduce indoor pollution in domestic households. Furthermore, charcoal can be burned cleanly and safely if prepared properly and used correctly inefficient appliances. Improved cook stoves are convex in shape and insulated on all sides. Because of their insulation, they require less charcoal to generate an equivalent amount of useful heat, and they retain heat for longer. Also, recently there is the introduction of improved cookstoves that can reduce GHG emissions by improving fuel efficiency and thereby reducing demand for charcoal for the same quantity of cooking energy.
Key Market Competitors Covered in the Report
Plantar Siderurgica S/A
Gryfskand sp. z o.o.
Jumbo Charcoal (Pty) Ltd.
Sagar Charcoal And Firewood Depot.
Ignite International, Ltd.
Sichuan Shuangli Yonghui Tanye
The Clorox Company
COAL SÃO MANOEL
Vina Global Imex Co.
LTD, Namco charcoal
Oxford Charcoal Company
Royal Oak Enterprises, LLC.
Mesjaya Sdn Bhd
Kingsford Products Company
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Post-COVID-19 Impact on Charcoal Market
COVID-19 created a major impact on the charcoal market as almost every country has opted for the shutdown of every production facility except the ones dealing in producing the essential goods.
The COVID-19 pandemic has impacted the charcoal market to an extent in a negative manner. So, the market has resulted in a lower estimated year-on-year growth rate as compared with 2019 because of the fewer amounts of activities in the sectors associated with the charcoal market. However, the growth has been high since the market opened after COVID-19, and it is expected that there would be considerable growth in the sector owing to the higher demand of barbequed food. And this factor is further expected to drive the overall growth of the market.
Manufacturers are making various strategic decisions to bounce back post-COVID-19. The players are conducting multiple research and development activities to improve the technology involved in the charcoal. With this, the companies will bring advanced technologies to the market. In addition, government initiatives for the usage of electric vehicle have led to the market's growth
In March 2022, Kingsford Products Company, a subsidiary of The Clorox Company launched a new product line of signature flavored charcoals and hardwood pellets. The main objective of this product launch is to improve the grilling experience with various flavors and aromas. This will improve the product portfolio of the company
Global Charcoal Market Scope
The charcoal market is segmented on the basis of product and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
On the basis of product, the global charcoal market is segmented into lump charcoal, charcoal briquettes, Japanese charcoal, sugar charcoal and others.
On the basis of application, the global charcoal market has been segmented into below outdoor activities, restaurant business, metallurgical fuel, industrial fuel, filtration, and others.
Charcoal Market Regional Analysis/Insights
The charcoal market is analyzed and market size insights and trends are provided by country, product, and application as referenced above.
The countries covered in the charcoal market report are the U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Hong Kong, Taiwan, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of the Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Middle East and Africa region dominates the charcoal market because it has demonstrated strong demand for industrial waste and water treatment using activated carbon.
Egypt dominates in the Middle East and Africa region owing to the massive demand for cheaper and more efficient wood fuel in this country.
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North America Charcoal Market - Industry Trends and Forecast to 2029 https://www.databridgemarketresearch.com/reports/north-america-charcoal-market
Europe Charcoal Market - Industry Trends and Forecast to 2029 https://www.databridgemarketresearch.com/reports/europe-charcoal-market
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