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The charcoal market size is forecast to increase by USD 998.11 million, at a CAGR of 2.98% between 2024 and 2028. The market growth and forecasting report includes historic market data from 2018-2022. The market growth analysis is witnessing a rising demand for the challenges to bring new investments in coal industry, the use of activated carbon in diverse fields, and the increased use of coal in barbecues.
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Increased use of charcoal in barbecues is the primary trend shaping market growth. Barbecue refers to a cooking method that includes roasting, smoking, braising, baking, and grilling. It involves cooking at low temperatures for a long time and is typically done outdoors by smoking meat over coal. In restaurants, large, specially designed brick or metal ovens may be used. Barbecue has been in practice in many regions worldwide and is popular in the Americas. Barbecue practice has gained popularity in Asian countries such as India in the past few years.
Additionally, aligned with market trends and analysis, many restaurants with barbecue facilities have emerged in India in recent years. The growing popularity of barbecuing can be attributed to changes in lifestyle, migration of people, and globalization. These coals are preferred to wood for barbecuing as coal provides more heat and burns cleaner. It is widely used in barbecues, and the rising popularity of barbecue will spur the consumption of coal and drive the market during the forecast period.
Charcoal is a preferred cooking fuel for urban residents in many developing countries. In the presence of ample wood fuels, many households in countries at high risk of food insecurity use coal or fuelwood for cooking, boiling water to make it for consumption, sanitary purposes, and food preservation and processing. Households spend more time on wood fuel collection, eat less nutritious food, reduce cooking times, and drink unsafe water when wood fuels are scarce.
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Further, in the past few years, barbecuing has been gaining popularity in Asian countries such as India. This growing trend can be attributed to changes in lifestyle, human migration, and globalization. Coal is preferred to wood for barbecuing since it offers more heat and is a cleaner fuel. Apart from cooking, coal has many household applications. Activated carbon, which is produced from coal, is used in many household applications, such as household water purifiers and cosmetics. Thus, such household applications of coall will significantly drive the market during the forecast period.
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APAC is estimated to contribute 59% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In APAC, coal is used for cooking by small-scale food companies and households in peri-urban and urban areas. Factors such as the booming infrastructure in India and the industrialization drive in China have fueled the steel demand, thereby increasing the demand for coal.
Further, the industrial wastewater treatment segment in the country is supported by private funding. Activated carbon, a processed form of coal, is used in wastewater treatment processes. The production of large quantities of wastewater will increase the use of activated coal for wastewater treatment purposes, thereby propelling the demand for coal in the region. Thus, these factors are expected to drive the growth of the market in APAC during the forecast period.
Change in the adoption of energy mix is the key factor driving market growth. The global energy mix has changed significantly over the years. Fossil fuels account for a major share of the global energy mix. However, burning fossil fuels for power generation increases GHG emissions into the atmosphere. Due to a rise in GHG emissions, governments around the world have started focusing on renewable energy resources such as biomass, solar, and wind. This has resulted in the diversification of energy supply resources and led to renewables occupying a significant share of the world's energy mix.
Furthermore, renewable technology offers tough competition to newly built fossil fuel power plants. Low carbon emissions from renewables resulted in the rise in the adoption of renewables. Globally, the renewable energy sector is growing significantly, owing to the competitive price of power generation, subsidies provided by various governments, and favorable government regulations. A rise in the use of biomass for energy will fuel the use of coal as a biomass fuel. Change in the energy mix and a rise in the adoption of renewable energy sources such as biomass will drive market growth during the forecast period.
High costs associated with slow pyrolysis is a challenge that affects market growth. Pyrolysis is the thermal decomposition of biomass in the absence of oxygen. It is a basic chemical reaction that occurs before biomass combustion and gasification. The products of biomass pyrolysis include coal and bio-oil and gases such as hydrogen, methane, CO2, and carbon monoxide. Depending on the temperature, pyrolysis will produce coal at low temperatures, gases at high temperatures, and bio-oil at intermediate temperatures.
Moreover, pyrolysis processes are classified as slow pyrolysis and fast pyrolysis. Fast pyrolysis yields bio-oil and requires only seconds for completion, whereas slow pyrolysis takes several hours to yield coal as the main product. In the pyrolysis process for coal, the heating is very slow. Due to the slow process, it requires large amounts of fuel or electric power to run the kiln and adds to the cost of coal production. These additional costs of the slow pyrolysis method may impede market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market analysis and report also include key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report forecasts market research and growth by revenue at global, regional & country levels and provides an analysis of the latest market growth and trends opportunity from 2018 to 2028.
The global charcoal market is fueled by various factors spanning from plant material to industrial filtration. Coal, a volatile substance derived from organic matter, finds its way into diverse sectors such as metal manufacturing, building & construction, and healthcare. Its applications range from pharmaceutical to recreational cooking, notably barbeque cooking, popular among the urban population. Cities buzz with the aroma of barbecued food, invoking a nostalgic smoky flavor cherished by many, particularly millennials engaging in home cooking. Home cooking equipment, including improved stoves, offer higher efficiencies, combating challenges such as energy consumption and indoor air pollution, which detrimentally affect human health.
However, restraints loom, including stringent government regulations and policy formulation hurdles. Population growth exacerbates deforestation, creating a supply gap for essential goods. Overcoming these challenges demands collaboration, innovation, and a commitment to sustainable practices in both production and consumption.
Charcoal Market Scope |
|
Report Coverage |
Details |
Page number |
98 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.98% |
Market Growth 2024-2028 |
USD 998.11 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
2.42 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 59% |
Key countries |
US, China, India, Indonesia, and Australia |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Big Green Egg Inc., Bricapar SA, Dorset Charcoal Co, Duraflame Inc., Fire and Flavor, Fogo Charcoal, Gryfskand sp zoo, Kamado Joe Co. Inc., Kingsford Products Co, Maurobera SA, Mesjaya Abadi Sdn Bhd, Namchar Pty. Ltd., Parker Charcoal Co., Rancher Charcoal, Royal Oak Enterprises LLC, Sagar Charcoal and Firewood Depot, The Oxford Charcoal Co, The Saint Louis Charcoal Co. LLC, Timber Charcoal Co. LLC, and Two Trees Products |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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