BBQ Charcoal Market to Reach US$ 4.85 Billion, Globally, by 2032 at 5.9% CAGR | Exclusive Report by FMI

The global BBQ charcoal market is anticipated to expand at a steady 5.9% CAGR over the forecast period between 2021 and 2031, finds Future Market Insights (FMI) in a recent market analysis. Growing food industry is boosting demand for BBQ charcoal.

The increasing demand from domestic & personal and commercial sectors is expected to remarkably contribute towards the expansion of the BBQ charcoal market. The market is mainly driven by the growing demand for grilled food around the world, especially due to the increasing popularity of grilled food among millennials.

Increased public health awareness also is expected to drive the growth of the market. The demand for charcoal barbeque (BBQ) is increasing because they provide grilled food healthier taste and smoky flavor. They emit more heat and are easier to move.

The growing trend of backyard grilling is anticipated to drive the market growth in the coming years. The rising awareness of healthy lifestyle and changing eating preferences are leading factors increasing the consumption of grilled or baked food. This in turn is driving the demand for charcoals & charcoal grill.

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Popularity of slow-cooked pork shoulder, chicken breast, thighs, and ribs and other non-veg food items as well as grilled vegetable will result in high demand in the market. Driven by this trend, the number of barbeque restaurants is increasing at a rapid rate in emerging economies, such as India and China, where grilled dishes are increasingly popular.

Driven by these factors, the global BBQ charcoal market is expected to reach more than US$ 4.85 Bn by the end of 2031, at a compound annual growth rate of 5.9% during the assessment period. As per FMI, geographically, the market is predicted to be dominated by Europe, which is expected to top US$ 1.7 Bn by 2031.

"Focus on healthy food is steering consumers away from fried meals. Instead they are exhibiting high demand for barbeques food and meal preps, which has helped in the growth of the BBQ charcoal market," says an FMI analyst.

Key Takeaways:

By product type, demand for lump charcoal is expected to surge at a 6.0 % CAGR over the forecast period.
The charcoal briquettes segment is projected to hold approximately 67.2 % of the total market share in 2021.
Demand for BBQ charcoal in the domestic & personal segment is anticipated to grow at a 6.0 % CAGR through 2031.
Sales of BBQ charcoal in the U.S. are anticipated to increase by 4.8 % year-over-year in 2021.
Poland will emerge as an attractive BBQ charcoal market, with sales growing at a 7.0 % CAGR in 2021.
Demand in China is expected to grow at a CAGR of 5.4% over the forecast period.
Japan and South Korea will collectively account for 36.0 % of the total BBQ charcoal market share in East Asia 2021.

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Competitive Landscape

Key market participants in the global BBQ charcoal market elaborated in the report includes Pol-GartenHolz GmbH, BOOMEX GmbH, Oxford Charcoal company, Dancoal, Direct Charcoal Limited, Bracia Tokarscy, Eco Grilly, GrillBon and others.

Companies operating in the global BBQ charcoal market are focusing on collaborations, mergers, new product development and acquisitions to expand their production facilities and distribution channels.

For instance:

In July 2021, Oxford Charcoal supplied all the charcoal and briquettes to the Shakespeare's Rose Theatre event at Blenheim Palace Oxfordshire, working alongside Oxford Fine Dining who was on site 10 hours a day cooking burgers and sausages on their two large BBQs.

BBQ Charcoal Market by Category

By Product Type:

Lump Charcoal
Charcoal Briquettes

By Sales Channel Type:

Offline
Online

By End-Use:

Domestic & Personal
Commercial

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More Insights into the BBQ charcoal Market Report

In its latest report, FMI offers an unbiased analysis of the global BBQ charcoal market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031.

In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (lump charcoal, charcoal briquettes), sales channel (offline & online) and end-use (domestic & personal and commercial) across six regions (North America, Latin America, Europe, Europe, East Asia , South Asia Pacific and Middle East & Africa).

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.