A recent report by Future Market Insights (FMI) states that global sales of wood charcoal will value around US$ 20,536.1 Million in 2021. The global wood charcoal market is poised for steady growth, with a projected growth rate of 2.3% from 2022 to 2030. By the end of this period, sales of wood charcoal are anticipated to reach a substantial value of US$ 25,324.8 million. Substantial demand will come from residential sector, especially in developing regions of Asia Pacific, Africa and South America wherein over 2 billion people rely on wood energy for cooking and heating purposes. The study further reveals that cooking and heating in private households make up for about a third of worldwide renewable energy consumption
While emergence of alternative energy sources is hampering market growth, demand from chemical industry for production of chemicals – carbon disulfide, sodium cyanide, and carbon tetrachloride – is reflecting remunerative opportunities.
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Key Highlights
- Charcoal lumps continue to generate greater revenue through 2030
- Fuel feedstock to remain primary application area of wood charcoal
- Adoption of wood charcoal in residential sector to remain over decade ahead
- Hardwood to account for leading revenue share, tentative to 80%
- Markets in Latin America and South Asia to offer potential growth avenues
“Food prepared from barbeque charcoal (BBQ) grills offer various benefits such as less oil usage, nutritionally rich food, and low fat. As consumers are following stay-at-home orders, at-home consumption is surging and consumers are showing greater interest for indoor grilling. The trend is well-established in developed regions, in particular,” says analyst at FMI.
Wood Charcoal Market – Competitive Intelligence
The global wood charcoal market is highly competitive, with presence of several players competing with each other to capture bigger revenue share. Majority of leading players are allocating huge investments in R&D to roll out innovative offerings that help step up production efficacy and thus improve their regional presence. Case in point,
- Greencoal Namibia CC produces pure hardwood lump charcoal made from 100% natural Blackthorn wood. The charcoal offers enhanced lighting characteristics, reduced ash production, and amazing hardwood aroma.
- Kingsford Products Company develops professional briquettes made with 100% natural ingredients and premium wood char to assure professional-quality results. These briquettes offer better burn and feature low ash formula.
- Royal Oak Enterprises manufactures pure natural hardwood charcoal briquettes derived from wood, vegetable starch, and contain no additional substances.
Key Companies Profiled
- The Clorox Company
- Royal Oak Company
- Duraflame Inc.
- Fire & Flavor Grilling Company
- Fogo Charcoal
- Cooks International LLC
- Southern Fuelwood
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To Know More About Wood Charcoal Market:
A new market research report published by Future Market Insights (FMI) on the global wood charcoal market report offers comprehensive insights into the market demand trends and analysis of opportunities over the forecast period, 2022-2030. The report examines the wood charcoal market through five different segments – product type, wood type, end use, application and region. The wood charcoal market report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the manufacturing of wood charcoal and product adoption across several end-use industries.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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