Global Charcoal Briquette Market to Grow at a CAGR of 8.4% During 2024-2032, Driven by the Cost-Effectiveness of Charcoal Briquette

The growing cost-effectiveness of charcoal briquette is leading to a surge in its use as a renewable energy source in both developed and developing countries. With the soaring oil prices across the globe, various countries are increasingly utilising charcoal briquette as an alternative to traditional fossil fuels for cost and environmental benefits. Moreover, the rising demand for charcoal briquette in various sectors such as residential, commercial, and agriculture, among others, is augmenting the market growth. As renewable energy technologies are witnessing advancements and developments, the use of charcoal briquette is expected to rise.

The market growth can be attributed to the increasing charcoal briquette production to meet its growing demand from major end-use sectors. As the price of coal is significantly surging and coal burning causes various environmental concerns, the utilisation of charcoal briquette as its substitute in the metallurgical sector is bolstering. In addition, various advantages posited by charcoal briquettes, such as high thermal efficiency and low waste generation, are likely to propel its demand in the forecast period.

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Some of the significant companies in the market for charcoal briquette are Weber-Stephen Products (HK) Ltd (NYSE: WEBR) and Kingsford Products Company. In March 2022, the latter launched Kingsford® Signature Flavors, its new product line that features flavour boosters for use in charcoal grills and pellets for pellet grids. It is a ready-to-use flavour line made with 100% real spices and can be used to easily customise the flavour experiences. The charcoal briquettes, pellets, and flavour boosters can level up barbecue experiences for both beginners and pros. The products are available at retailers in the United States and are available in various sizes ranging from 2 to 17 pounds. They come pre-mixed with flavour boosters to steadily release flavours while grilling.

Market Analysis by Type, Application, Grade, Distribution Channel, and Region:

• The market, on the basis of type, can be divided into wood type and others.
• Based on application, the market can be divided into metallurgical industry and barbecue, among others.
• On the basis of grade, the market covers grade A, grade B and grade C, and others..
• Direct and indirect distribution channels exist in the market.
• The regional markets for charcoal briquette include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The surging production and sales of charcoal briquette are fuelling the market growth.
• The market is being aided by the rising utilisation of charcoal briquette in barbequed food.
• The increasing prices of traditional fuel and the growing environmental consciousness are driving the market growth of charcoal briquette.
• The rising adoption of clean energy sources owing to the surging concerns regarding rapid climate change is propelling the market for charcoal briquette.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for charcoal briquette for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the types, applications, grade, distribution channel, and major regions of charcoal briquette.
• The report provides the regional historical (2018-2023) price trends and forecast (2024-2032).
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global charcoal briquette market are The Clorox Company, Weber Inc., Coco Energy, Otago Pte. Ltd., PT. Coconut Charcoal Briquettes Factory, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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