“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 8.1% during the estimated period from 2023 to 2030, starting from US$ 2.10 Bn in 2021.
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.
In addition, lockdown restrictions and the need to maintain social distancing due to the ongoing COVID-19 pandemic have resulted in more people staying at home. Thereby, an increasing number of people have been engaged in-home cooking and organizing small social events at home. This situation has resulted in an increasing demand for home cooking equipment and materials. Since barbequed food has enjoyed immense popularity in home-style cooking on account of its ease and taste, the BBQ charcoal market is expected to witness significant growth during the forecast period from 2020 to 2028.
“Rising home cooking culture due to lockdown restrictions and continued popularity of BBQ cooking would drive demand from the household end-use segment”
The restaurant segment led the barbeque (BBQ) charcoal market in 2021. The restaurant segment contributed to more than 60% of the world market revenue share in 2019. However, with the ongoing COVID-19 pandemic, a significant majority of restaurants have been closed or operating at a minimal occupancy to maintain health safety. Thereby, the dominance of the restaurant segment is expected to fall during the forecast period from 2023 to 2030.
Despite losing significant market growth from the restaurant industry, the BBQ charcoal market has been growing due to increasing demand from the household segment. An increasing number of people have been engaged in in-home cooking and taking up cooking challenges. Since BBQ has always been a popular culture in developed markets, the BBQ charcoal market is expected to witness significant growth from the household segment.
“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 the growing number of people avoiding restaurants and, inclination towards self-cooking and rising house party trends. Hence, the household segment will grow with the highest CAGR throughout the forecast period.
“Rising penetration of homemade grilled food will boost the market in North America”
In 2021, North America dominated 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 over 70% share of the North America barbeque (BBQ) charcoal market in 2021. 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 is expected to be the fastest-growing region during the forecast period owing to the growing BBQ grill industry and rising consumer preference towards grilled food. In 2021, Asia Pacific has around 25% of the global BBQ grill market share and it will grow with a CAGR of around 9.2% 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.
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.
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Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of BBQ Charcoal market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
