The updated report of Future Market Insights on the wood-charcoal ecosystem highlights various opportunities and growth spots for the coming decade. As per the analysis, the wood-charcoal market is set to account for a current valuation of USD 22.01 billion in 2024.
Reflecting on consumers’ expectations, wood-charcoal producers work on simpler labels with understandable ingredients, reinforcing continuous demand. Going by this pattern, demand could rise and equate to a market valuation of USD 27.6 billion, with a sluggish CAGR of 2.3% by 2034.
Attributes | Details |
---|---|
Market Value for 2024 | USD 22.01 billion |
Market Value for 2034 | USD 27.6 billion |
Market Forecast CAGR for 2024 to 2034 | 2.3% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
As the chemicals and materials sector in key markets like the United States and Europe reaches maturity, the growth potential for wood charcoal appears impressive in the coming years.
Amid recessionary pressures from a global economic slowdown compounded by the COVID-19 pandemic, the market witnessed sluggish growth from 2019 to 2023, fostering a CAGR of 1.7%.
Historical CAGR | 1.7% |
---|---|
Forecast CAGR | 2.3% |
The historical CAGR of 1.7% indicates a steady but sluggish growth trajectory over the specified period. The popularity of charcoal for grilling and barbecuing in various consumer markets contributes to its demand. Challenges such as deforestation, environmental concerns, and competition from alternative fuel sources have likely constrained the growth rate of the market historically.
Looking forward, the forecasted CAGR of 2.3% suggests a slight acceleration in growth for the wood-charcoal market. The growth is anticipated to be driven by a boom in consumer preference for natural and organic fuel options, particularly in the foodservice and hospitality industries.
Innovations in charcoal production techniques aimed at improving efficiency and sustainability and reducing environmental impacts could also contribute to market expansion.
Despite challenges, the wood-charcoal market is expected to continue its gradual growth trajectory, fueled by evolving consumer preferences and technological advancements in production methods.
The below section shows the leading segment. Based on the product, the charcoal lumps segment is accounted to hold a market share of 71.8% in 2024. Based on application, the fuel feedstock segment is accounted to hold a market share of 56.2% in 2024.
Category | Market Share in 2024 |
---|---|
Charcoal Lumps | 71.8% |
Fuel Feedstock | 56.2% |
Based on product type, the charcoal lumps segment stands out, capturing a significant market share of 71.8%.
Charcoal lumps offer reliable and sustainable lighting options, particularly in regions with limited access to electricity or during outdoor activities such as camping and hiking.
The versatility, ease of use, and eco-friendly appeal contribute to their widespread adoption among consumers and businesses.
Based on application, the fuel feedstock segment is accounted to hold a market share of 56.2% in 2024.
Charcoal is a valuable fuel feedstock in metallurgy, chemical manufacturing, and agriculture industries. Its high energy density, consistent combustion properties, and relatively low cost make it a preferred choice for applications such as metal smelting, carbonization, and soil improvement.
The dominance of the fuel feedstock segment underscores the importance of charcoal as a versatile and essential resource in various industrial sectors.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The table describes the top five countries ranked by revenue, with India holding the top position.
India dominates the wood-charcoal market due to its widespread use in traditional cooking methods, industrial applications, and religious ceremonies.
With the availability of rich culinary heritage and diverse cultural practices, wood charcoal holds significant cultural and economic importance, propelling its demand and dominance in the Indian market.
The Forecast CAGRs from 2024 to 2034
Countries | CAGR |
---|---|
United States | 1.4% |
Germany | 1.15% |
France | 1.73% |
China | 2.76% |
India | 3.68% |
In the United States, wood charcoal is primarily used for outdoor grilling, barbecuing, and recreational activities such as camping and tailgating.
Wood charcoal finds applications in the restaurant industry for smoking meats and imparting flavor to dishes, contributing to the vibrant culinary culture of barbecue in the United States.
In Germany, wood charcoal is widely used for outdoor grilling and barbecue, particularly during summer, when grilling is a popular social activity.
Wood charcoal is used in traditional German cuisine to prepare grilled sausages, skewers, and marinated meats, reflecting the culinary traditions and preferences of the country.
Wood charcoal is commonly used in France for grilling and barbecue, especially during picnics, outdoor gatherings, and festive occasions.
French cuisine also incorporates wood charcoal to impart a smoky flavor to dishes such as grilled vegetables, meats, and seafood, reflecting the country's culinary heritage and appreciation for quality ingredients and cooking techniques
In China, wood charcoal is primarily used for cooking and heating purposes, particularly in rural areas and traditional households where access to modern energy sources may be limited.
Wood charcoal stoves are widely used for cooking meals and boiling water, providing an affordable and accessible energy solution for millions of households nationwide.
Wood charcoal is used in India for various purposes, including cooking, heating, and religious ceremonies. Traditional Indian cooking often uses charcoal-fired stoves or grills to prepare dishes such as tandoori meats, kebabs, and bread.
Wood charcoal is used in certain industries for metal smelting, handicraft production, and traditional medicine preparation, reflecting its diverse applications in Indian society.
In the competitive landscape of the wood-charcoal market, numerous suppliers compete based on factors such as product quality, pricing, sustainability practices, and distribution networks.
Established players often emphasize brand reputation and offer various charcoal products tailored to multiple consumer preferences.
Emerging companies focus on innovation, eco-friendly production methods, and niche markets to differentiate themselves and gain market share in the growing wood charcoal industry.
Some of the key developments are
Attributes | Details |
---|---|
Estimated Market Size in 2024 | USD 22.01 billion |
Projected Market Valuation in 2034 | USD 27.6 billion |
Value-based CAGR 2024 to 2034 | 2.3% |
Forecast Period | 2024 to 2034 |
Historical Data Available for | 2019 to 2023 |
Market Analysis | Value in USD billion |
Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East and Africa |
Key Market Segments Covered | Product Type, Wood Type, Application, End-use, Region |
Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
Key Companies Profiled | The Clorox Company; Royal Oak Company; Duraflame Inc.; Fire & Flavor Grilling Company; Fogo Charcoal; Cooks International LLC; Southern Fuelwood; Kingsford Products Company; K.P.BIOCOAL |
As of 2024, the market for wood-charcoals is expected to be valued at USD 22.01 billion.
The wood-charcoal market is projected to expand at a CAGR of 2.3% between 2024 and 2034.
The charcoal lumps segment is projected to dominate the industry.
By 2034, the market value of wood-charcoal is expected to reach USD 27.6 billion.
India is likely the top-performing market, with a CAGR of 3.68%.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product 5.1. Charcoal Lumps 5.2. Charcoal Briquettes 5.3. Charcoal Powder 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Wood 6.1. Softwood 6.2. Hardwood 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application 7.1. Fuel Feedstock 7.2. Reducing Agent 7.3. Filtration Agent & Gas Masking 7.4. Decolorizing Agent 7.5. Gastric Medicine 7.6. Sketches & Paints 7.7. Soil Conditioning 7.8. Gunpowder 7.9. Others 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use 8.1. Residential 8.1.1. Cooking Fuel 8.1.2. Gardening 8.2. Commercial Paints & Sketches 8.3. Water Treatment 8.4. Industrial 8.4.1. Metal & Metallurgy 8.4.2. Explosives & Artillery 8.4.3. Sugar 8.4.4. Alcoholic Beverages 8.4.5. Chemicals & Petrochemicals 8.5. Others 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. The Clorox Company 19.2. Royal Oak Company 19.3. Duraflame Inc. 19.4. Fire & Flavor Grilling Company 19.5. Fogo Charcoal 19.6. Cooks International LLC 19.7. Southern Fuelwood 19.8. Kingsford Products Company 19.9. K.P.BIOCOAL 20. Research Methodology
Chemicals & Materials
March 2023
REP-GB-12551
300 pages
Explore Chemicals & Materials Insights
View Reports