The ‘Global Charcoal Briquette Market Size, Share, Growth, Analysis, Report and Forecast 2023-2028’ by Expert Market Research, gives an extensive outlook of the global charcoal briquette market, assessing the market on the basis of its segments like type, application, grade, distribution channel, and major regions.
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 8.4%
With the development of modern society, consumers are demanding new energy and fuel resources that meet their needs while protecting the environment. This is driving the adoption of charcoal briquettes as clean and renewable energy sources and as a substitute for traditional fossil fuels, augmenting the growth of the global charcoal briquette market.
Charcoal briquettes are an economical alternative to traditional fuel. The rising prices of conventional energy are increasing the attractiveness of charcoal briquettes, supporting the charcoal briquette market. Further, charcoal briquettes are gaining popularity in the expanding metallurgy sector as a fuel to overcome the challenges of the rising cost of coal coke and the environmental problems caused by burning it.
The expansion of e-commerce distribution channels is helping manufacturers increase their customer reach. Consumers can conveniently make charcoal briquette purchases for preparing barbecues. The adoption of charcoal briquettes that provide long-lasting heat, as well as a desirable smoked aroma to grilled food, is rising, stimulating the growth of the global charcoal briquette market.
The use of charcoal briquettes is widely growing in developing countries in regions such as the Asia Pacific and Africa owing to the ease of obtaining agroforestry wastes to produce charcoal briquettes. In Africa, charcoal briquettes are a cost-effective source of household energy. Further, since it produces fewer fumes than fuelwood its adoption is rising among health-conscious consumers.
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Charcoal Briquette Market Segmentation
Charcoal briquettes are blocks of compressed sawdust, coal dust, charcoal dust, wood chips or biomass. Compared with traditional fuels, briquettes produce heat continuously and are smokeless during combustion. The presence of additives in charcoal briquettes makes it easier to light them or infuse a particular flavour into food.
Based on type, the market is classified into:
• Wood Type
On the basis of application, the market is divided into:
• Metallurgical Industry
o By Distribution Channels
- onvenience Stores
- Speciality Stores
Based on grade, the market is segmented into:
• Grade A
• Grade B
• Grade C
By distribution channel, the market is bifurcated into:
Based on region, the market is classified into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Charcoal Briquette Market Trends
The rising environmental awareness is supporting the use of charcoal briquettes to replace conventional fuels, such as diesel oil, kerosene, lignite, coal, firewood, and furnace oil, stimulating the growth of the global charcoal briquette market. In households, charcoal briquettes find applications in cooking and garden composting, while in the industrial sector, they can be used as a special filler for construction concrete and as a fuel for industrial boilers and gasifiers.
The expanding population is increasing the need for food security compelling the agricultural sector to boost its production. Charcoal briquettes can enhance the pH value of the soil while improving the soil temperature and moisture. Additionally, they can absorb harmful metals and act as a slow-release agent for organic fertilisers.
The rising popularity of barbecues in countries such as the United States is increasing the demand for charcoal briquettes as they provide a subtle and naturally charred characteristic to food. The production and trade of charcoal briquettes are also boosting the national economies of developing countries in Africa, including Tanzania and Mozambique. The production of charcoal briquettes is a source of income for the rural population and is aiding the growth of the global charcoal briquette market. In the Asia Pacific, countries such as Australia have an abundance of sustainable biomass resources, including forestry waste and agricultural waste, such as sugarcane, corn, rice, cotton, and wheat, can potentially support the production of charcoal briquettes.
Key Market Players
The major players in the global charcoal briquette market are The Clorox Company, Weber Inc., Coco Energy, Otago Pte. Ltd., and PT. Coconut Charcoal Briquettes Factory, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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