Global Charcoal Briquette Market Report and Forecast 2022-2027

Global Charcoal Briquette Market Report and Forecast 2022-2027

Market Outlook

According to the global charcoal briquette market report by Expert Market Research (EMR), the market growth is aided by the favourable properties of the fuel as compared to other traditional fuel. The market is further projected to grow at a CAGR of 8.4% in the forecast period of 2022-2027.

Charcoal briquette is defined as a block, which is used as a cooking fuel. Charcoal briquette is inflamed to give out the desired heat for cooking a piece of food. On top of this, the heat produced by charcoal briquette is hot, lasts long, and does not give out any smoke. Charcoal briquette is ideal for outdoor cooking and is widely used to cook grilled or barbecued meat, which is a major driving factor for the charcoal briquette market.

Charcoal briquette is an eco-friendly product which is the reason why it is adopted both in rural and urban areas. The growing concerns and stringent government regulations about the increasing emission of greenhouse gases is leading to a heightened demand for charcoal briquette. In addition to this, flourishing food and beverage industry across the emerging economies owing to the rising population and rising per capita income is a key factor guiding the growth of the market.

The increasing enthusiasm among the young population to try barbequed cuisines is another crucial growth driving factor for the global charcoal briquette market. The market is anticipated to be fuelled by the increasing prices of the traditional cooking fuels in the coming years.

Charcoal briquette provides various advantages as compared to its counterparts, such as coal. It is extremely efficient with high thermal value and low ash content, low moisture content and density. In this regard, the increasing awareness pertaining to the advantages offered by the product, the population is discarding the less efficient fossil fuels and adopting charcoal briquette instead.

In geographical terms, the Middle East and Africa region accounts for a healthy share of the charcoal briquette market owing to the increasing domestic demand for charcoal briquette in Africa.

Market Segmentation

The market can be divided into the following segmentations.

Market Breakup by Type

• Wood Type
• Others

Market Segmentation by Application

• Metallurgical Industry
• Barbecue
• Others

Market Classification by Grade (Charcoal and Molasses Ratio)

• Grade A
• Grade B
• Grade C
• Others

Market Classification by Distribution Channel

• Direct
• Indirect

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Kingsford Products Company
• Weber-Stephen Products (HK) Ltd
• Coco Energy
• PT. Coconut Charcoal Briquettes Factory
• OTAGO Pte. Ltd.
• Others

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.