BBQ Charcoal Market To Register A Robust Growth Rate During Forecast Period 2022 – 2031 : Fact.MR

The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of BBQ Charcoal market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of BBQ Charcoal

The report offers actionable and valuable market insights of BBQ Charcoal. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of BBQ Charcoal Market across various industries and regions.

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This newly published and insightful report sheds light on Market Insights of BBQ Charcoal, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of BBQ Charcoal Market.

The ubiquitous BBQ charcoal market is mushrooming at a striking pace. According to a recent market study by Fact.MR, the global BBQ charcoal industry is anticipated to augment at 4.9 % CAGR during the forecast period from 2021 to 2031.

The market is being pushed primarily by the expanding global influence of grilled cuisine and the increased popularity of grilled meals among millennials. People’s increased health consciousness will also promote market growth. Rising demand for charcoal grills for barbeque (BBQ) owing to perks such as smoky taste, healthier food, greater heat, and portability, among others.

Key Segments Covered

·         Form

• Briquettes BBQ Charcoal
• Lump Wood BBQ Charcoal
  • Supermarkets/Hypermarkets
  • Specialty Stores
  • Online Stores

·         Sales Channel

• Direct BBQ Charcoal Sales
• Retail BBQ Charcoal Sales:

·         End User

• BBQ Charcoal for Hotels, Restaurants and Catering (HoReCa)
• BBQ Charcoal for Households

·         Source

• BBQ Charcoal made from Agricultural Waste
• BBQ Charcoal made from Coconut Shells
• BBQ Charcoal made from Nutshells
• BBQ Charcoal made from Hardwood
• BBQ Charcoal made from Bamboo

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Competitive Landscape

Prominent manufacturers are reliant on constantly offering new product lines so as to consolidate their footing in the global market. Offering BBQ charcoal with minimum emissions is the cornerstone for several manufacturers. Additionally, capacity expansion, mergers & acquisitions and collaborations are also relied upon.

• In May 2019, Oxford Charcoal Company to exhibit its Biochar and Agri-tech grade products at the BBC Gardeners World Live show, co-hosted with the BBC Good Food Show Summer- one of UKs largest gardening shows
• Also, Kingsford Products Company has introduced its own range of Hardwood Pellets, manufactured from all-natural, pure flavor hardwoods devoid of any fillers, binders or preservatives, available five flavors- classic, signature, hickory, maple and cherry

Manufacturers and companies are organizing barbecuing events to attract consumers to grilled food items. Most of these events are hosted by famous chefs, and leading restaurant chains have included more grilled items in their menus. This scenario can be seen extensively in North America and Europe, wherein, the market for BBQ charcoal is dominant.

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Key Takeaways from Study

• The global BBQ charcoal market is anticipated to add 1.5X value by 2030.
• Demand for briquettes is expected to increase at a substantial CAGR of more than 4% over the forecast period.
• North America is the supreme market with a value of US$ 284 Mn in 2020, and is expected to inflate at a dynamic CAGR of more than 4% through 2030.
• The hotels, restaurants, and catering (HoReCa) segment is opined to exhibit a spry growth rate of more than 4% CAGR, while household consumption is projected to add 1.4X value over the forecast period.
• Europe is set to unleash growth of close to 4% CAGR, to be valued at 364 Mn by 2030, owing to higher presence of manufacturers in the region, along with a widespread consumer base and commercial consumption with a streamlined supply chain.
• Suppliers are creating awareness about sustainable BBQ charcoal made from coconut shells, which is a potential replacement for conventional BBQ charcoal. Thereby, the coconut shells under source segment is projected to create an absolute $ opportunity of around US$ 87 Mn over the next ten years.

“Despite gas and electric grills, the smoky flavor and texture offered by BBQ charcoal is preferential among food enthusiasts, posing as a key driver for BBQ charcoal demand,” says a Fact.MR analyst.

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