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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.
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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