“Increased influence of grilled food will enhance the BBQ charcoal market”
The global barbeque (BBQ) charcoal market is rising at a significant pace, projected to rise at a CAGR of 6.7% during the estimated period from 2019 to 2027, starting from US$ 1.72 Bn in 2018.
The market is majorly driven by the rising influence of grilled food worldwide and the growing adoption of grilled food among millennials. Increasing health consciousness among people will also boost market growth. Rising demand for barbeque (BBQ) charcoal grills due to their benefits such as smoky flavored, healthy food, more heat, more portable and others. The increasing trend of cooking grilled food at the backyard and growing cookout trend among youngsters will also enhance the market growth in years to come. High penetration of home-cooked grilled food in developing and developed countries such as the U.S., Canada, the U.K, and others will also help in market growth. According to a recent report by QSR magazine, around 95% of Americans like BBQ food owing to which the demand for barbeque (BBQ) food is increasing in North America.
Market Synopsis
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“Rising health consciousness will spur the segment growth”
The restaurant segment led the barbeque (BBQ) charcoal market in 2018. The restaurant segment has more than 60% of the world market revenue share in the same year. Restaurant segment has its dominance owing to rising health consciousness and inclination towards grilled food. People prefer to order grilled food from restaurants as it’s difficult to cook grilled food at home owing to less space and smoke in the house. The rising influence of grilled meat & chicken will also spur segment growth. Henceforth, the restaurant segment will show significant growth during the forecast period.
“Growing influence of homemade grilled food will enhance the household segment”
The household segment will show the fastest growth in years to come owing to the growing influence of homemade grilled food among people. The segment will show the highest growth due to expensive restaurant grilled food, inclination towards self-cooking and rising house party trends. Hence, the household segment will grow with the highest CAGR throughout the forecast period.
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“Rising penetration of homemade grilled food will boost the market in North America”
In 2018, North America dominates the barbeque (BBQ) charcoal market. North America contributed to more than 50% of the revenue share in the same year. North America has the highest share owing to growing consumer’s inclination towards grill food, rising penetration of homemade grilled food and the presence of major market players such as Duraflame, Inc., Royal Oak Enterprises, LLC, Kingsford Products Company and others. The U.S. has the highest share in the market owing to the rising BBQ grill industry and increasing health consciousness among millennials. The U.S. has around 2,000 BBQ restaurants. The U.S. has over 70% share of the North America barbeque (BBQ) charcoal market in 2018. Henceforth, North America will continue its dominance in the years to come.
“Growing adoption of grilled food will spur the market in the Asia Pacific region”
The Asia Pacific region will be the fastest-growing region during the forecast period owing to the growing BBQ grill industry and rising consumer’s preference towards grilled food. In 2018, Asia Pacific has around 25% of the global BBQ grill market share and it will grow with a CAGR of around 6.0% in years to come. China, Japan, and India will be the major value contributor in the region owing to rising disposable income and growing urbanization.
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Rising mergers & acquisitions and new product launches will be the key strategy for the major market players, as this will enhance their geographic presence and market share.
Key Industry Development:
List of Companies Covered:
Historical & Forecast Period
This study report represents analysis for each segment from 2017 to 2027 considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.
ATTRIBUTE | DETAILS |
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Research Period | 2017-2027 |
Base Year | 2018 |
Forecast Period | 2019-2027 |
Historical Year | 2017 |
Unit | USD Billion |
Segmentation |
Product Type (2017–2027; US$ Bn) |
Source (2017–2027; US$ Bn) |
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Distribution Channel (2017–2027; US$ Bn) |
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End-user (2017–2027; US$ Bn) |
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Geography (2017–2027; US$ Bn) |
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that give a better market understanding of the overall barbeque (BBQ) charcoal market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.