Demand for Grilled Food to Augment BBQ Charcoal Sales by 1.6X through 2031

NEW YORK, Sept. 23, 2021 /PRNewswire/ -- The latest study by Fact.MR on the BBQ charcoal market presents analysis on trends affecting sales globally. It also compiles all-inclusive market taxonomy in terms of form, end user, and sales channel. The study discloses critical trends elevating growth prospects for the market. It also provides insights into strategies adopted by leading companies to gain edge in the BBQ charcoal market.

As per a recently published study by Fact.MR, the global BBQ charcoal market is projected to surpass a value of US$ 2.6 billion by 2021. Increasing influence of grilled cuisine and the growing popularity of grilled meals across the world, especially among millennials is set to drive the market. Steered by this, the market valuation is expected to total US$ 4.5 billion through 2031.

A substantial rise in demand for charcoal grills for barbeque (BBQ) has been observed over the past half-decade, especially during COVID-19. This is attributed to the increasing demand for grilled foods and perks associated with it such as smoky taste, portability, and better nutrition among others.

According to a survey conducted by the Quick-Service and Fast Casual Restaurant (QSR) magazine, over 95% of the American population enjoy BBQ cuisine. This is propelling the demand for BBQ meals in North America. Driven by this trend, the BBQ charcoal market is anticipated to expand at a CAGR of 4.9% over the forecast period, from 2021 to 2031, in comparison to the 4% CAGR registered between 2016 and 2020.

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As per Fact.MR, briquettes are estimated to outrank other forms of BBQ charcoal. As briquette charcoal provides consistent combustion and reduce wastage by nearly 90% along with ensuring non-emission of sulphur or fly ash, it is highly preferred over lump wood BBQ charcoal. In response to this, the segment is projected to account for nearly 70% of the overall sales in the market.

"Surging home cooking culture amidst lockdown and growing consumer preferences for exotic cuisines combined with awareness regarding health benefits associated with the intake of grilled foods are fueling the demand for home-based barbecue preparations. This will create lucrative sales opportunities for the BBQ charcoal market," says a Fact.MR analyst.

Key Takeaways from BBQ Charcoal Market Analysis

• In North America, the U.S. is anticipated to contribute more than 96% of the sales, totaling US$ 418 million during the assessment period 2021-2031.
• Germany is estimated to emerge as one of the most attractive markets for BBQ charcoal in Europe, capturing more than US$ 73 million of sales revenue through 2031.
• China is projected to exhibit significant growth in Asia Pacific, owing to the rising consumer preference for grilled foods in the country.
• Coconut shell-derived BBQ charcoals are anticipated to create an absolute dollar ($) opportunity worth nearly US$ 87 million by 2031-end.
• Based on end user, hotels, restaurants, and catering (HoReCa) is poised to lead the segment, accounting for over 60% of the overall sales.

Key Drivers

• Rising popularity of grilled foods and increasing consumption of meat among the millennials across North America and Asia Pacific are favoring the growth of the BBQ charcoals market.
• Increasing availability of BBQ charcoals through specialty stores, supermarkets, and online channels is driving sales across the retail segment.

Key Restraints

• Decline in consumption of meat due to the growing trend of vegetarianism across European countries such as Italy and France is hampering the sales of BBQ charcoals in Europe.
• Rising concerns pertaining to the use of charcoal from natural resources and the ill effects associated with charcoal ash are expected to restrain the market growth.

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Competitive Landscape

Key manufacturers are focusing on consistently improving their product lines by introducing new products so as to strengthen their footprint in the consolidated market. Some of the leading companies are adopting strategies such as capacity expansion, collaborations, mergers & acquisitions to expand their market share. For instance,

• In May 2019, Oxford Charcoal Company, a company based in the U.K. to introduce its Agri-tech and Biochar grade products at one of UKs largest gardening shows, BBC Gardeners World Live show.
• Kingsford Products Company, a charcoal briquette producing company based in the U.S. has introduced its own product line of Hardwood Pellets, manufactured from all-natural, pure flavor hardwoods devoid available in five flavors-, signature, classic hickory, cherry, and maple.

Some of the key players in the BBQ charcoal market profiled by Fact.MR are:

• Matsuri International Co. Ltd.
• The Oxford Charcoal Company
• Braai & BBQ International (Pty) Ltd
• Kingsford Products Company
• PT Cavron Global
• Duraflame Inc.
• Dancoal Sp. Z.o.o
• Carbo Namibia (Pty) Ltd
• Mesjaya Abadi Sdn Bhd
• GRYFSKAND SP. Z.O.O
• The Dorset Charcoal Co.
• Direct Charcoal Ltd

More Valuable Insights on BBQ Charcoal Market

Fact.MR, in its new report, offers an unbiased analysis of the global BBQ charcoal market, analyzing forecast statistics through 2020 and beyond. The survey reveals growth projections on in BBQ charcoal market with detailed segmentation:

• By Form

• By Sales Channel

• By End User

• By Source

• Briquettes BBQ Charcoal
• Lump Wood BBQ Charcoal
• Supermarkets/Hypermarkets
• Specialty Stores
• Online Stores 

• Direct BBQ Charcoal Sales
• Retail BBQ Charcoal Sales:

• 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 

 Key Questions Covered in the BBQ Charcoal Market Report 

• The market survey also highlights projected sales growth for BBQ charcoal market between 2020 and 2030
• The report offers insight into BBQ charcoal demand outlook for 2020-2030
• BBQ charcoal market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
• BBQ charcoal market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry

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Residential Electric Grill Market- Versatility of residential electric grills for indoor use and energy-efficient features are projected to spur the demand for residential electric grills in the near future. This is expected to have a significant impact on the future growth of the market. Millennials will become the world's largest users of residential electric grills in the anticipated timeframe. However, in industrialized regions such as North America and Europe, the millennial population makes up the majority of the population. Consumers are always looking for lightweight alternatives will further boost the demand.

Flat Top Grills Market- During the projection period, the global market for flat top grills is expected to increase significantly year on year. The worldwide flat top grills market has risen significantly as a result of increased demand for outdoor activities, which is likely to boost flat top grill manufacturing internationally. One of the main reasons for the demand for flat top grills is the growing popularity of grilled foods. Another major driver boosting the flat top grills market in the consumer products industry is ongoing innovation in terms of end-user comfort and safety concerns.

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SOURCE Fact.MR