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Global Charcoal Briquette Market to Grow at a CAGR of 5.0% During 2022-2027, Driven by the Cost-Effectiveness of Charcoal Briquette

According to a new report by EMR titled, ‘Global Charcoal Briquette Market Report and Forecast 2022-2027’, the global market for charcoal briquette is expected to grow at a CAGR of 5.0% in the forecast period of 2022-2027.

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.

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, and Region:

  • The market, on the basis of type, can be divided into wood type, among others.
  • Based on application, the market can be divided into metallurgical industry and barbecue, among others.
  • 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 (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the types, applications, and major regions of charcoal briquette.
  • 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 Kingsford Products Company, Weber-Stephen Products (HK) Ltd, Coco Energy, PT. Coconut Charcoal Briquettes Factory, and OTAGO Pte. Ltd., 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.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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