The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The growing popularity of barbecued food are expected to drive innovation in charcoal manufacturing, thus driving the market during the forecast period.

The global charcoal market is expected to grow from $5.14 billion in 2022 to $5.41 billion in 2023 at a compound annual growth rate (CAGR) of 5.3%. The charcoal market size is expected to grow to $6.51 billion in 2027 at a CAGR of 4.7%.

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Global Charcoal Market Segments Include:

• By Product:Lump Charcoal, Charcoal Briquettes, Japanese Charcoal, Sugar Charcoal
• By Distribution Channel:Online, Offline
• By Application:Outdoor Activities, Restaurant Business, Metallurgical Fuel, Industrial Fuel, Filtration
• By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global charcoal market in 2021.

Major Market Players in the charcoal market include Namchar Pty. Ltd., Mesjaya Abadi Sdn Bhd, Royal Oak Enterprises LLC, Kingsford Products Company, The Saint Louis Charcoal Company LLC, Gryfskand sp. z o.o., Matsuri International Co. Ltd.

Product innovation is the key trend gaining popularity in the charcoal market. Major companies operating in the charcoal sector are focused on innovating new products to increase their market coverage. For instance, in March 2022, Kingsford, a US-based charcoal company introduced Signature flavors, a novel line of flavor enhancers for charcoal grills and pellets for pellet grills. Signature flavors feature charcoal briquets that come pre-seasoned with flavor enhancers to slowly release flavor as the user grills. This product introduced three new flavors namely, garlic onion paprika, basil sage thyme, and cumin chili for use in barbeques.

The Charcoal Global Market Report 2023  provides a charcoal market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The charcoal market forecast analyzes charcoal market size, charcoal market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Charcoal is the impure form of graphitic carbon, obtained as a residue when carbonaceous material is partially burned, or heated with limited access to air. Charcoal is available in different forms that include coke, carbon black, and soot. Charcoal is used for cooking, metallurgy, and industrial fuel.

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