Press release
Charcoal Market Regional Outlook with Industry Experts by 2033
Charcoal
The Business Research Company presents an extensive market research report on the Charcoal Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The charcoal market size has grown strongly in recent years. It will grow from $5.38 billion in 2023 to $5.68 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to industrial applications, recreational activities, water filtration, medical and pharmaceutical uses, traditional heating, alternative to wood fuel.
The charcoal market size is expected to see strong growth in the next few years. It will grow to $7.21 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to rising outdoor recreation, biochar for agriculture, activated charcoal in health and beauty, restaurant and catering industry, renewable energy initiatives. Major trends in the forecast period include eco-friendly charcoal production, charcoal in cooking and barbecuing, waste-to-energy initiatives, carbon sequestration projects, online retail platforms.
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Key Market Players:
Major companies operating in the charcoal market report are China National Chemical Corporation Ltd., Bricapar SA, Cooks International LLC, Royal Oak Enterprises LLC, Duraflame Inc., Kingsford Products Company, Ignite Products, Parker Charcoal Co., Fire & Flavor Grilling Company, Namchar Pty. Ltd., Mesjaya Abadi Sdn Bhd, Saint Louis Charcoal Company LLC, The Dorset Charcoal Co., Subur Tiasa Holdings Berhad, Rancher Charcoal, Plantar Group, Sagar Charcoal and Firewood Depot, Maurobera SA, NamCo Charcoal and Timber Products, The Oxford Charcoal Company, E & C Charcoal, Carbo Namibia (Pty) Ltd., Two Trees Products, Dancoal Sp. Z.o.o, Gryfskand sp. z o.o., Southern Fuelwood, Blackwood Charcoal, B & B Charcoal, Braai & BBQ International Pty. Ltd., Direct Charcoal Ltd., Fogo Charcoal Co., Linyi Fumin Charcoal Co. Ltd, Matsuri International Co. Ltd., PT Cavron Global, Tatapar Carvao Sao Manoel, The Original Charcoal Company, Timber Charcoal Co. LLC
Market Drivers:
The growing popularity of barbecued food is significantly contributing to the growth of the charcoal market going forward. Barbeque refers to a type of food preparation where various foods including vegetables, meat, fish, and so on are cooked over a rack on an open fire. As charcoal heats up quickly and imparts a smokey flavor to the meal, it is frequently employed as fuel for the open fire in barbecue food preparation. For instance, according to National BBQ week, a UK-based barbeque blog, in 2021, the UK hosted around 165 million barbeques, with 15 million being held on the Easter Bank Holiday alone. Therefore, the growing popularity of barbecued food is driving the charcoal market growth.
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https://www.thebusinessresearchcompany.com/report/charcoal-global-market-report
The charcoal market covered in this report is segmented -
1) By Product: Lump Charcoal, Charcoal Briquettes, Japanese Charcoal, Sugar Charcoal
2) By Distribution Channel: Online, Offline
3) By Application: Outdoor Activities, Restaurant Business, Metallurgical Fuel, Industrial Fuel, Filtration
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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