Portland, OR, Sept. 08, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global BBQ charcoal market garnered $2.1 billion in 2021, and is estimated to generate $3.3 billion by 2031, manifesting a CAGR of 4.8% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $2.1 billion |
| Market Size in 2031 | $3.3 billion |
| CAGR | 4.8% |
| No. of Pages in Report | 265 |
| Segments covered | Type, End User, and Region. |
| Drivers | Surge in demand from households |
| Rise in awareness about health & hygiene | |
| Increase in camping activities by younger generation | |
| Opportunities | Increase in demand for ready-to-eat foods |
| Restraints | Local charcoal manufacturers |
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Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global BBQ charcoal market, as a majority of hotels, bars, and restaurants were closed and few were working with minimal occupancy in 2020.
- However, there has been a significant rise in the demand for BBQ charcoal in the post-COVID era. This is attributed to the growth in demand for grilled food due to their smoky taste, better portability, and high nutrition profile.
The research provides detailed segmentation of the global BBQ charcoal market based on type, end user, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on type, the charcoal briquettes segment held the highest share in 2021, accounting for more than three-fifths of the global BBQ charcoal market, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is expected to register the highest CAGR of 5.1% from 2022 to 2031.
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Based on end user, the commercial segment accounted for the highest share in 2021, contributing to around three-fifths of the global BBQ charcoal market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the households segment is expected to manifest the highest CAGR of 4.8% from 2022 to 2031.
Based on region, North America held the largest share in 2021, contributing to nearly half of the total BBQ charcoal market share, and is projected to maintain its dominant share in terms of revenue in 2031. However, the Asia-Pacific region is expected to manifest the fastest CAGR of 5.9% during the forecast period. The research also analyzes regions including Europe and LAMEA.
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Leading market players of the global BBQ charcoal market analyzed in the research include Matsuri International Co. Ltd., The Oxford Charcoal Company, Braai & BBQ International (Pty) Ltd, Kingsford Products Company, PT Cavron Global, Duraflame Inc., Dancoal Sp. Z.o.o., Carbo Namibia (Pty) Ltd., Mesjaya Abadi Sdn Bhd, and Direct Charcoal Ltd.
The report provides a detailed analysis of these key players of the global BBQ charcoal market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
