How Has The Charcoal Market Size Evolved In Recent Years?
The charcoal market has seen considerable growth due to a variety of factors.
• In recent times, the charcoal market has experienced substantial growth. An increase in its value is projected to move from $5.64 billion in 2024 to $5.94 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.2%.
The remarkable growth observed during the previous period is a result of its various uses such as in industrial applications, leisure activities, water purification processes, medicinal and pharmaceutical applications, traditional heating methods, and as a substitute for wood fuel.
What Does the Future Hold for the Charcoal Market?
The charcoal market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the charcoal market is likely to witness robust growth and is projected to escalate to $7.84 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.2%.
The anticipated growth during the forecast period can be ascribed to the increasing preference for outdoor recreation, application of biochar in agriculture, the use of activated charcoal in health and beauty sector, restaurant and catering industry, along with renewable energy initiatives. The forecast period is also expected to see predominant trends such as environmentally friendly charcoal manufacturing, the use of charcoal in cooking and barbecuing, initiatives turning waste into energy, carbon capture projects, and the rise of online retail platforms.
What Are the Critical Driver Fuelling the Charcoal Market's Growth?
The increasing preference for barbecued cuisine is playing a major role in propelling the growth of the charcoal market. Barbequing is a method of food preparation that involves cooking various items like vegetables, meat, and fish on a rack over an open fire, often fueled by charcoal due to its quick heating ability and the unique smokey aroma it lends to the food. For example, the National BBQ week, a UK-based barbecue blog, reported that in 2023, around 31% of all barbeques prominently featured a plant-based or meat-free option, indicating a broader range of options being embraced in barbecue menus. Moreover, the Family Food Survey for the fiscal year ending in 2023 recorded a rise of 3.5% in expenditure on eating out, including barbecues, a trend that is gaining traction in the UK. As such, the increasing fondness for barbecued meals is fueling the expansion of the charcoal market.
What Are The Primary Segments In The Global Charcoal Market?
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
Subsegments:
1) By Lump Charcoal: Natural Lump Charcoal, Flavored Lump Charcoal
2) By Charcoal Briquettes: Regular Charcoal Briquettes, Instant Light Briquettes, Flavored Briquettes
3) By Japanese Charcoal: Binchotan Charcoal, Muro Nigran Charcoal
4) By Sugar Charcoal: Granulated Sugar Charcoal, Compressed Sugar Charcoal
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Which Key Trends Are Driving Changes In The Charcoal Market Size?
The domination of product innovation as a significant trend in the charcoal market is evident. The major players in the charcoal industry are pouring their efforts into the creation of novel products to extend their market territory. For instance, Kingsford, an American charcoal corporation, rolled out Signature flavors in March 2022, an innovative line of flavor boosters tailored for charcoal grills and pellet grills. These Signature flavors provide pre-seasoned charcoal briquets that gradually infuse flavor as one cooks. The company introduced three unique flavors - garlic onion paprika, basil sage thyme, and cumin chili, specifically curated for barbeque use.
Who Are the Key Players in the Charcoal Market?
Major companies operating in the charcoal market include:
• 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
What Is The Most Dominant Region In The Charcoal Market?
Asia-Pacific was the largest region in the charcoal market in 2024. North America was the second-largest region in the charcoal market. The regions covered in the charcoal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
