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Charcoal Market to Grow with a CAGR of 3.82% through 2028 | TechSci Research

02-05-2024 02:02 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: TechSci Research Pvt Ltd

Charcoal Market to Grow with a CAGR of 3.82% through 2028 | TechSci

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.

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Charcoal Market."
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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.

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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

"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.

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Table of contents

1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations

2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. Global Charcoal Market Outlook
4.1. Market Size & Forecast
4.1.1. By Value
4.2. Market Share & Forecast
4.2.1. By Product (Lump Charcoal, Charcoal Briquettes, Japanese Charcoal, Sugar Charcoal, Others)
4.2.2. By Application (Outdoor Activities, Restaurant Business, Metallurgical Fuel, Industrial Fuel, Filtration, Others)
4.2.3. By Region
4.2.4. By Company (2022)
4.3. Market Map
4.3.1. By Product
4.3.2. By Application
4.3.3. By Region …..Continue……

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TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research's core values are value, integrity, and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci's client leads rather than follow market trends. Not bound by legacy, TechSci's cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.

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