Charcoal Global Market Report 2024

Charcoal, an impure graphitic carbon residue from partial burning of carbonaceous materials, is used for cooking, metallurgy, and industrial fuel in various forms such as coke, carbon black, and soot.

Charcoal products encompass various types including lump charcoal, charcoal briquettes, Japanese charcoal, and sugar charcoal. Lump charcoal serves as fuel for grilling and barbecuing, derived from natural wood through methods such as oxygen-free burning to char the wood without consuming it entirely. These products are distributed through online and offline channels, catering to applications in outdoor activities, the restaurant industry, metallurgical and industrial fuel needs, as well as filtration purposes.

The charcoal market research report is one of a series of new reports from The Business Research Company that provides charcoal market statistics, including charcoal industry global market size, regional shares, competitors with charcoal market share, detailed charcoal market segments, market trends, and opportunities, and any further data you may need to thrive in the charcoal industry. This charcoal market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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%. Historical growth stemmed from various factors, including industrial applications, recreational uses, water filtration purposes, medical and pharmaceutical applications, traditional heating methods, and the adoption of this substance as an 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%. Anticipated growth in the upcoming period is associated with the increasing demand for outdoor recreation, the utilization of biochar in agriculture, the use of activated charcoal in health and beauty products, the restaurant and catering industry, and the surge in renewable energy initiatives. Major trends expected in this forecast period encompass eco-friendly methods for charcoal production, the utilization of charcoal in cooking and barbecuing, initiatives converting waste to energy, projects focused on carbon sequestration, and the rise of online retail platforms for charcoal products.

The rising preference for barbecued cuisine is playing a substantial role in propelling the growth of the charcoal market in the foreseeable future. Barbecue cooking involves grilling various foods such as vegetables, meats, and fish over an open fire on a rack, where charcoal is often utilized as the primary fuel. Charcoal's ability to quickly generate heat and infuse a distinctive smoky flavor into the food makes it a popular choice for barbecue enthusiasts. For instance, data from National BBQ Week, a UK-based blog focused on barbecuing, highlighted that in 2021, the UK hosted approximately 165 million barbecues, with 15 million of them taking place solely on the Easter Bank Holiday. This surge in barbecued food's popularity directly correlates with the expanding demand for charcoal, thereby fostering growth within the charcoal market.

The burgeoning beauty and cosmetics industry are anticipated to be a key driver behind the expansion of the charcoal market in the foreseeable future. This industry encompasses a wide array of activities, including the creation, production, promotion, and distribution of products aimed at enhancing personal appearance and hygiene. Charcoal has found significant traction within this sector owing to its exceptional ability to draw out impurities and toxins, making it a sought-after ingredient in skincare items for purifying and detoxifying the skin. For instance, data from the National Hair and Beauty Federation revealed a notable increase in the number of hair and beauty businesses, totaling 48,425 firms with an addition of 2,215 establishments between March 2021 and March 2022. Moreover, during 2020-2021, the hair and beauty segment generated substantial revenue, amounting to $5.9 billion (£4.6 billion). Consequently, the expanding beauty and cosmetics industry serve as a significant catalyst propelling the growth trajectory of the charcoal market.

The prevailing trend in the charcoal market revolves around product innovation, with major industry players dedicating their efforts to developing novel products aimed at expanding their market reach. A prime example is Kingsford, a prominent charcoal company based in the US, which unveiled Signature flavors in March 2022. This innovative line comprises flavor enhancers tailored for charcoal grills, along with pellets designed for pellet grills. Signature flavors boast charcoal briquets infused with pre-seasoned enhancements that gradually release flavor during grilling. The product introduces three distinctive flavors-garlic onion paprika, basil sage thyme, and cumin chili-crafted specifically for barbecue enthusiasts seeking diverse and enhanced taste experiences. This strategic product launch exemplifies the industry's focus on catering to evolving consumer preferences through inventive offerings in the charcoal market.

Many countries worldwide are intensifying their efforts to implement carbon trading programs as a means of curbing carbon emissions. These programs operate within market-based frameworks and are geared toward mitigating greenhouse gas emissions. Indonesia, for example, took a significant step in February 2023 by initiating the initial phase of a compulsory carbon trading program targeted at coal-powered facilities. The primary objective is to stimulate the adoption of renewable energy sources and ultimately achieve a state of net-zero emissions. This inaugural phase encompasses 99 coal-powered plants, collectively possessing an installed capacity of 33.6 GW, representing approximately 86% of the nation's coal-based power infrastructure.

In June 2021, Kingsford, a prominent US charcoal briquette manufacturer, entered into a partnership with renowned US jewelry designer Ben Baller, the specifics of which were not disclosed. This collaboration aimed to produce a special limited-edition Everdure Cube grill set tailored for use by novice and experienced grillers alike. Combining Kingsford's expertise in charcoal products with Ben Baller's creative vision, the goal was to craft a distinctive and personalized grilling experience through this unique grill set.

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

Asia-Pacific was the largest region in the charcoal market in 2023. 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.

The countries covered in the charcoal market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The charcoal market consists of sales of hardwood briquettes, binchotan and coconut shell charcoal. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Charcoal Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on charcoal market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for charcoal ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The charcoal market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 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
• Companies Mentioned: China National Chemical Corporation Ltd.; Bricapar SA; Cooks International LLC; Royal Oak Enterprises LLC; Duraflame Inc.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.