The global BBQ charcoal market is set to witness stable growth of around 49% CAGR over the coming years of 2020-2030, with noteworthy demand increase due to rise of the food industry. Moreover, growing demand for barbecue accessories and related products is ultimately contributing to increased demand for charcoal. Demand for Ubiquitous BBQ Charcoal Market is increasing even after the introduction of electric and gas grills. The most important factors for this growth are portability and economic pricing, as well as the preference for the smoky flavor offered by BBQ charcoal.
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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 Ubiquitous 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
Key Segments Covered
- Briquettes BBQ Charcoal
- Lump Wood BBQ Charcoal
- 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
- 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
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