Increasing demand for compliance with global sustainability initiatives and attainment of SDGs along with rising demand for carbon emission reduction to widen green charcoal popularity
ROCKVILLE, MD / ACCESSWIRE / February 23, 2021 / The global BBQ charcoal market is expected to surge positive through 2021, receiving tailwinds from increasing household level barbecue food consumption. Long-term prospects also appear optimistic, with Fact.MR projecting a noteworthy CAGR for the 2021-2031 forecast period.
The market is expected to make credible gains, with sustainable charcoal products acquiring precedence. According to an ExxonMobil publication, in consideration of IPCC's Lower 2o C scenario, global demand for conventional fuels for multiple purposes is poised decelerate in favor of more renewable alternatives. Hence, manufacturers are reformulating their product offerings to incorporate naturally sourced BBQ charcoal, with specific demand for coconut-shell derived ones experiencing significant uptick.
For instance, Malaysian charcoal manufacturer Life Green Charcoal Sdn Bhd manufactures coconut shell charcoal for usage as a biofuel in BBQ activity and activated carbon in water and air purification processes. Likewise, Mesjaya Abadi Sdn Bhd manufactures coconut shell charcoal with a production temperature ranging from 400-500o C, a fixed carbon content of 65.8% and burning duration of 1-2 hours.
"Rising sustainability concerns are prompting BBQ charcoal manufacturers to introduce greener charcoal varieties, leading to the introduction of new grades and varieties across the global market and subsequently broadening their revenue prospects," says a Fact.MR analyst.
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Key Takeaways from Fact.MR's BBQ Charcoal Market Study
- By form, BBQ charcoal briquettes to account for 70% of the global consumer demand
- Coconut shell derived charcoal is touted as an effective alternative to hardwood ones
- By end-use, household consumption is likely to witness increasing adoption
- Direct retailing to account for nearly three out of five sales, online marketing gaining major ground
- US to account for over a third of BBQ charcoal sales, amid increasing frequencies of outdoor barbeque parties in households
- Introduction of 100% sustainable charcoal to widen the UK market's growth prospects
- Germany to witness increased briquettes sales, particularly across the HoReCa channel, attributed to their affordability
- India and China to emerge as lucrative markets, attributed to high domestic production
BBQ Charcoal Market- Prominent Drivers
- Greater affordability compared to gas barbeques and greater effectiveness in meat cooking to heighten future sales
- Demand for portable commercial/household charcoal barbeques to witness an incline
- Manufacturers are also capitalizing on the production of automatic charcoal grills for ensuring reduced cooking time
BBQ Charcoal Market- Key Restraints
- Increased deforestation for sourcing charcoal is limiting growth prospects, owing to governmental restrictions
- Emission of noxious gases such as carbon monoxide upon combustion is restricting uptake
- Growing popularity of electric barbecue grills to reduce emissions likely to hinder expansion prospects
Discover more about the BBQ charcoal market with 192 figures and 120 data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/2153/bbq-charcoal-market
Competitive Landscape
Key BBQ charcoal manufacturers in Fact.MR's report include Matsuri International Co. Ltd., Oxford Charcoal, Braai & BBQ International (Pty) Ltd., Kingsford Products Company, Cavron Global, Duraflame Inc., Dancoal Sp. Z.O.O., Carbo Namibia (Pty) Ltd., MESJAYA ABADI SDN BHD, GRYFSKAND SP Z.O.O, The Dorset Charcoal Co. and Direct Charcoal Ltd.
Companies are concentrating on introducing sustainable products, consistent with the global commitment to reduce global carbon footprint. For instance, Oxford Charcoal manufactures Ethical Charcoal, a 100% sustainably sourced charcoal from sustainable woodlands. The product line comes in a wide variety of flavors and is ready to cook within 10-15 minutes.
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Manufacturers are also striving to acquire appropriate certifications to affirm their global commitment to sustainability. In January 2020, Cavron Global received the Bra Miljöval, or Good Environmental Choice, ecolabel from the Swedish Environmental Protection Association. This certification has bolstered the company's organic BBQ charcoal production capabilities.
More Insights on the BBQ Charcoal Market
Fact.MR, in its new offering, presents an unbiased analysis of the global BBQ charcoal market. The study discloses essential insights on the basis of form (briquettes and lump woods), source (agricultural waste, coconut shells, nutshells, hardwood, and bamboo), end use (hotels, restaurants, caterings (HoReCa), and household consumption), and sales channel (direct sales and retail sales), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).
Key Questions Covered in the Report
- Why is the demand for green BBQ charcoal increasing?
- What drivers are likely to underpin the global BBQ charcoal market growth in 2021?
- Which are the major challenged expected to present themselves in front of the market?
- Why is US a lucrative investment destination for prominent BBQ charcoal manufacturers?
- How are India and China generating credible investment opportunities?
- What is the degree of competition in the global BBQ charcoal market?
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