According to a recent report published by Future Market Insights (FMI), the global wood charcoal market achieved a significant valuation of approximately US$ 20,536.1 Million in 2021. This substantial market growth is primarily attributed to the high demand originating from the residential sector, particularly in developing regions of Asia Pacific, Africa, and South America.
Notably, the study also highlights that cooking and heating in private households account for roughly one-third of the total global renewable energy consumption. Despite the emergence of alternative energy sources posing challenges to market expansion, the demand from the chemical industry for the production of essential chemicals such as carbon disulfide, sodium cyanide, and carbon tetrachloride presents lucrative opportunities for the wood charcoal market.
The wood charcoal market, as revealed by FMI’s report, is driven by the critical role it plays in meeting the energy needs of billions of individuals in developing regions, ensuring its resilience and continued growth. Moreover, the market finds a promising niche in supplying raw materials for the chemical industry, demonstrating its adaptability and potential for further expansion in the face of evolving energy landscapes and sustainability concerns
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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.
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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.
Top Key Players in the Global Market
- The Clorox Company
- Royal Oak Company
- Duraflame Inc.
- Fire & Flavor Grilling Company
- Fogo Charcoal
- Cooks International LLC
- Southern Fuelwood
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Wood Charcoal Market – Key Segment
Wood Type
- Softwood
- Hardwood
Product Type
- Charcoal Lump
- Charcoal Briquettes
- Charcoal Powder
Application
- Fuel Feedstock
- Reducing Agent
- Filtration Agent & Gas Masking
- Decolorizing Agent
- Gas Masking
- Sketches & Paints
- Soil Conditioning
- Gunpowder
- Others
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 over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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