Charcoal Market: Global Industry Analysis and Forecast (2024-2030) Size, Share, Growth, Trend

Charcoal Market Overview:

Charcoal is a light, black carbon residue made by incomplete combustion of wood, animal, or plant matter. In the activation process, the charcoal is heated and then steam or chemically treated to remove any substances that have attached to it and break it down into finer particles. The product is widely employed in industrial activities and is mostly used for outdoor cooking.

 

 

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Charcoal Market Dynamics:

The growing industrial wastewater, which has a growing demand for substantial charcoal for water purification, is one of the primary drivers for the global charcoal market. Aside from that, the charcoal market is driven by the adoption of barbequed settings in recreational cooking. In addition, the government's initiative to regulate and monitor deforestation has slowed the growth of the market.

 

A notable trend in the charcoal market is the increased popularity of grilled cuisine, owing to changes in lifestyle and the adoption of novel cooking methods. Increased consumption of barbecued food in a live cooking scenario, aided by a lively atmosphere, a wide buffet spread, and great music. Barbecue restaurants serve slow-cooked pig shoulders, briskets, chicken thighs, and spare ribs. As a result, the number of these restaurants in developing nations like India and China, where grilled cuisine is becoming increasingly popular, is rapidly growing.

 

The planned substitution of charcoal for coal in silicon production in order to reduce carbon dioxide emissions is a potential growth opportunity for charcoal market participants. Companies like Elkem ASA and Simcoa Operations Pty. Ltd. are currently employing charcoal in their manufacturing processes, and research is underway to develop technologies that will allow coal to be totally replaced with charcoal without compromising product quality.

 

Activated charcoal is in great demand in the pharmaceutical and healthcare industries due to its detoxifying properties, which is driving charcoal market growth. The chemical could be used to cleanse contaminants from the human body, and charcoal powder could be utilized to treat a drug overdose or poisoning. Charcoal's therapeutic properties are driving up demand even more. In addition, the growing demand for activated charcoal water purifiers, which have excellent absorbent characteristics, is a major driver for the charcoal business. Additionally, increased consumer awareness of water waste, rising demand for potable water, and the low cost of charcoal present profitable potential for industry participants.

 

However, environmental issues such as deforestation, as well as tight government regulation, are projected to stifle industry expansion. Consumer awareness and desire for ecologically friendly products are expected to provide a challenge to the charcoal market.

 

Charcoal Market Segment Analysis:

By Type, the Charcoal Market is segmented into Lump Charcoal, Charcoal Briquettes, Japanese Charcoal, Sugar Charcoal, and Others. The Lump Charcoal segment dominated the market share by 36% in 2023. The segment growth is attributed to its advantages of quick-burning and reaching a higher temperature rate with relatively little carbon emission and high calorific value compared to other charcoal kinds. Lump charcoal has been adopted in the end-user industry as a result of this reason, and it is expected to rise over the forecast period.

 

 

 

By Application, the Charcoal Market is segmented into Metallurgical Fuel, Barbeque, Filtration, Healthcare, Construction, and Others. The Barbeque segment dominated the market share by 38% in 2023. The segment growth is attributed to the rising use of charcoal in barbecued food and food consumption in a grilled cooking setting, the food and agricultural business. Aside from that, because of its absorbent characteristics, charcoal is in high demand due to the rising demand for potable drinking water and raising awareness about water waste.

 

The Healthcare segment is expected to witness significant growth at a CAGR of 2.1% during the forecast period. It's mostly used to treat poisoning and medication overdoses, both prescription and over-the-counter. Charcoal is thought to help decrease cholesterol levels by scientists and professionals all around the world. Charcoal absorbs fat and bile acids from high-fat diets, allowing fat to be absorbed more quickly from the stomach, which in turn, expected to boost the segment growth in the charcoal market.

 

Charcoal Market Regional Insights:

The Asia Pacific region has dominated the charcoal market with a 36% share in 2023. In Asia's emerging countries including India and China, charcoal has long been a popular item. The market in the region is growing as a result of the growth of the steel sector and the increased demand for wastewater treatment, among other factors. China accounted for the largest share of the market in terms of consumption in 2020.

 

The North American region is expected to witness significant growth at a CAGR of 1.8% during the forecast period. The United States has been the leading contributor to the North American charcoal market in recent years, and this trend is expected to continue in the forecast period. Barbecue has grown in popularity in the United States, with its origins in the technique of cooking meals over an open flame, which was popular among the continent's original.

 

The objective of the report is to present a comprehensive analysis of the Global Charcoal Market to the stakeholders in the industry. The report provides trends that are most dominant in the Global Charcoal Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the global market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Global Charcoal Market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Global Blockchain in the Energy Market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Global Charcoal Market.

 

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the Global Charcoal Market. The report also analyses if the Global Charcoal Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Global Charcoal Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Global Blockchain in the Energy Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Global Blockchain in the Energy Market is aided by legal factors.

Charcoal Market Scope:

 

Charcoal Market
Market Size in 2023	USD 6.30 Bn.
Market Size in 2030	USD 7.13 Bn.
CAGR (2024-2030)	1.8 %
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Type Lump Charcoal Charcoal Briquettes Japanese Charcoal Sugar Charcoal Others
	By Application Metallurgical Fuel Barbeque Filtration Healthcare Construction Others
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Charcoal Market Key Players: 

• Gryfskand sp. z o.o.
• MATSURI.CO.TH
• Jumbo Charcoal (Pty) Ltd
• Sagar Charcoal and Firewood Depot
• Ignite International, Ltd
• Sichuan Shuangli Yonghui Tanye
• The Clorox Company
• COAL SAO MANOEL
• Paraguay Charcoal
• Vina Global Imex Co., LTD
• Namco charcoal, Crunchbase Inc
• Duraflame, Inc
• Royal Oak Enterprises, LLC
• Timber Charcoal Company LLC
• NAMCHAR
• Mesjaya Sdn Bhd
• MAUROBERA S.A.
• Kingsford Products Company