Charcoal Market is Expected to Gain USD 6,946.21 Million, Industry Trends, Growth, Share and Global Forecast Analysis by 2029
SAN FRANCISCO, June 23, 2022
SAN FRANCISCO, June 23, 2022 /PRNewswire/ -- The latest study released on the Global Charcoal Market by Data Bridge Market Research evaluates market size, trend, and forecast to 2029. The Charcoal Market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors. General market conditions and probable market for a new product to be launched are also analyzed in this market report. DBMR team has an excellent industry experience, talent solutions, industry insight and latest tools and technology which make Charcoal market report world-class.
Data Bridge Market Research analyses that the charcoal market is expected to reach the value of USD 6,946.21 million by 2029, at a CAGR of 2.7% during the forecast period. The charcoal market report also covers pricing analysis, patent analysis, and technological advancements in depth.
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The report includes seven parts, dealing with:
- Basic information
- The North American Charcoal Market
- The European Charcoal Market
- The Asia charcoal Market
- The MEA charcoal Market
- Market entry and investment feasibility
- The report conclusion
All the research report is made by using two techniques that are Primary and secondary research. There are various dynamic features of the business, like client need and feedback from the customers. Before (company name) curate any report, it has studied in-depth from all dynamic aspects such as industrial structure, application, classification, and definition
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Key players in This Report include:
- 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,
- NamCo Charcoal and Timber Products,
- Mesjaya Sdn Bhd,
- Cook In Wood,
- Royal Oak Enterprises,
- Duraflame And others
In March 2022, Kingsford Products Company, a subsidiary of The Clorox Company launched new product line of signature flavored charcoals and hardwood pellets. The main objective of this product launch is to improve the grilling experience with various flavor and aroma. This will improve the product portfolio of the company
Charcoal Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Increase in urbanization and rapid industrialization had created substantial demand for charcoal
The demand for charcoal is increasing mainly due to urban population in developing countries. More than half the global population now lives in cities, and urban-dwellers are restricted to charcoal use because of easiness of production, access, transport, and tradition. Urbanization have influenced the type of fuels used and also the total energy consumption for different functions which have further increased the demand for charcoal production across the region.
- Rise in consumption of barbequed food
In much of the world, barbecuing is practically very common activity in many regions especially in summer time. And while some people grill with gas and electricity, many people also prefers grilling with charcoal gives their food with a particularly smoky flavour. Furthermore, charcoal is mostly used for recreational barbecuing in places like North America and Europe, but it's the primary cooking fuel in most African nations. In addition, it is reported that the market is majorly driven by the rising influence of grilled food worldwide and the growing adoption of grilled food among millennials. In addition, lockdown restrictions and the need to maintain social distancing due to the ongoing COVID-19 pandemic have resulted in more number of people staying at home. Thereby, an increasing number of people have been engaged in-home cooking and organizing small social events at home. This situation has resulted in an increasing demand for home cooking equipment and materials.
- Shift towards improved stove and higher efficiencies
Traditional stoves for heating and cooking at the household level are typically inefficient and generate considerable indoor air pollution, which can be deleterious to human health. Improved cook stoves have been deployed in many countries in attempts to improve cooking and heating efficiency and reduce indoor pollution in domestic households. Furthermore, charcoal can be burned cleanly and safely if prepared properly and used correctly in efficient appliances. Improved cook stoves are convex in shape and insulated on all sides. Because of their insulation, they require less charcoal to generate an equivalent amount of useful heat, and they retain heat for longer. Also, recently there is the introduction of improved cook stoves that can reduce GHG emissions by improving fuel efficiency and thereby reducing demand for charcoal for the same quantity of cooking energy.
- Stringent government regulation for charcoal production
A number of policies and standards have been initiated for charcoal production to ensure the quality and safe handling of the product. For instance, Canada Consumer Product Safety Act (S.C. 2010, c. 21) addresses the prevention to human health or safety that are posed by consumer products in Canada, including those that circulate within Canada and those that are imported.
- Inadequate baseline information for policy formulation related to charcoal
Population growth and the shift from fire-wood to charcoal were highlighted as the main driving factors for the growth of charcoal market. However, wood-fuel exploitation alone clearly does not provide a summary explanation for ongoing deforestation on a national scale. The problems related to wood fuel have increased due to unstructured baseline information related to various polices of charcoal production, which have further created demand and supply gap of charcoal across the region.
Therefore, precise data on the charcoal value chain needs to be provided for an excellent entry-point for shaping proper policy frameworks. This will also offer an opportunity to the various stakeholders to add knowledge, innovation capital and technology at each step or link in the value chain of charcoal production. Hence, the inadequate baseline information for policy formulation is creating a major challenge for the market to grow.
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The Charcoal Market segments and Market Data Break Down are illuminated below:
The charcoal market is segmented on the basis of product and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Lump Charcoal
- Charcoal Briquettes
- Japanese Charcoal
- Sugar Charcoal
- Outdoor Activities
- Restaurant Business
- Metallurgical Fuel
- Industrial Fuel
Global Charcoal Market Report highlights information regarding the current and future industry trends, growth patterns, as well as it offers business strategies to help the stakeholders in making sound decisions that may help to ensure the profit trajectory over the forecast years.
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
- The Middle East and Africa
- South Africa
- Saudi Arabia
- North America
- United States
- South America
- Netherlands Denmark
- Russia UK
- Hong Kong
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Browse Regional Reports:
- North America Charcoal Market – Industry Trends and Forecast to 2029: https://www.databridgemarketresearch.com/reports/north-america-charcoal-market
- Europe Charcoal Market – Industry Trends and Forecast to 2029: https://www.databridgemarketresearch.com/reports/europe-charcoal-market
- Asia-Pacific Charcoal Market – Industry Trends and Forecast to 2029: https://www.databridgemarketresearch.com/reports/asia-pacific-charcoal-market
- Middle East and Africa Charcoal Market – Industry Trends and Forecast to 2029: https://www.databridgemarketresearch.com/reports/middle-east-and-africa-charcoal-market
- Silicone Coating Market – Industry Trends and Forecast to 2029 https://www.databridgemarketresearch.com/reports/global-silicone-coating-market
- Stainless Steel Market – Industry Trends and Forecast to 2029 https://www.databridgemarketresearch.com/reports/global-stainless-steel-market
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