Home / Press Release / Global BBQ Charcoal Market Expected To Grow At A CAGR Of 6.7% During The Forecast Period

Global BBQ Charcoal Market Expected To Grow At A CAGR Of 6.7% During The Forecast Period

The latest market report published by Credence Research, Inc. “Barbeque (BBQ) Charcoal Market: Growth, Future Prospects, and Competitive Analysis, 2019 - 2027” the BBQ charcoal market was valued at US$ 1.72 Bn in 2018 and expected to grow at a CAGR of 6.7% during the forecast period from 2019 to 2027.

Market Insights

Inclination towards grilled food among people worldwide will boost the demand for BBQ charcoal Market

Inclination towards grilled food among people worldwide and rising adoption of BBQ grill at home are the major factors driving the market growth during the forecast period from 2019-2027. In 2018, North America was dominant in the global BBQ charcoal market by revenue and by consumption.

Rising BBQ grill market will also boost the barbeque (BBQ) charcoal market growth in years to come. The global BBQ grill market was valued at US$ 3.5 Bn in 2018 and is expected to grow with a CAGR of nearly 4% in years to come. The Growing adoption of BBQ grill is due to their benefits such as less oil use, nutritionally advantageous food, less fat, and others.  Rising urbanization and an increase in spending patterns led to inclination towards grilled food, which is helping the market to grow. barbeque (BBQ) charcoal grills are portable and can be used while picnicking or camping.    

BBQ charcoal Market

Major market players are focusing on acquisitions, mergers, and partnerships to increase their geographic presence and market share.

Industrial Developments

• In 2017, Kingsford Products Company, a subsidiary of Clorox Company and CBQ, LLC subsidiary of Carl Budding & Company collaborated for the production of ribs that are cooked in barbecue entrees. With this collaboration, both companies were desired to capture good market share in the barbecued food market in years to come.

Key Market Movements:

• Worldwide, the barbeque (BBQ) charcoal market is growing at a CAGR of 6.7% for the expected period from 2019 to 2027
• North America dominates the global barbeque (BBQ) charcoal market owing to the rising adoption of grilled food and increased inclination towards healthy food. The U.S. dominates the market in North America with more than 70% of North America BBQ charcoal market.
• Asia Pacific will be the fastest-growing market followed by Europe. Growing BBQ grill market, inclination towards a healthy lifestyle and rising disposable income in the Asia Pacific region will boost the demand in years to come.
• Based on end-user, the market is divided into restaurant and household segments. The restaurant segment has the highest share in the global barbeque (BBQ) charcoal market owing to increased consumer preference for grilled food worldwide.
• Mergers, collaborations, and partnerships will be the major strategies by the market players. The new product launch, especially for BBQ is also one of the strategies followed by the market players.

List of Companies Covered:

• Duraflame, Inc.
• Royal Oak Enterprises, LLC.
• Mesjaya Abadi Sdn. Bhd.
• Gryfskand sp. Z o.o
• Kingsford Products Company
• Direct Charcoal Ltd.
• Braai & BBQ International (Pty) Ltd.
• CV. Elvatara Indojaya
• Vigil Group

Browse the full report at https://www.credenceresearch.com/report/bbq-charcoal-market

The Global Barbeque (BBQ) Charcoal Market is Segmented into:

ATTRIBUTE DETAILS
Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Billion
Segmentation

 By Product Type (2017–2027; US$ Bn)

 By Source (2017–2027; US$ Bn)

 By Distribution Channel (2017–2027; US$ Bn)

 By End-user (2017–2027; US$ Bn)

 By Geography (2017–2027; US$ Bn)

*Complete segmentation list is on report page

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