Global $1.81 Bn BBQ Charcoal Markets, 2018-2028 with 2019 as the Base Year
DUBLIN, Oct. 28, 2020 /PRNewswire/ -- The "Global BBQ Charcoal Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2020 To 2028" report has been added to ResearchAndMarkets.com's offering.
The global barbeque (BBQ) charcoal market is rising at a significant pace, projected to rise at a CAGR of 8.1% during the estimated period from 2020 to 2028, starting from US$ 1.81 Bn in 2019.
This study report represents analysis for each segment from 2018 to 2028 considering 2019 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2020 to 2028.
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 the 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 number of 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.
End-use Analysis
"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 2019. 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 2020 to 2028.
Despite losing a 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.
Key Industry Development:
Recently, Braai & BBQ International (Pty) Ltd., launched an exclusive product 'Triquettes'. This triangular based charcoal is perfect for heat distribution. Triquettes have various advantages such as long-lasting, easy to light, less waste, eco-friendly, less smoke, and others.
Key Topics Covered:
1. Preface
2. Executive Summary
3. Market Dynamics
3.1. Introduction
3.1.1. Global BC Market Value, 2018-2028, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2019
3.4. Market Positioning of Key Players, 2019
3.4.1. Major Strategies Adopted by Key Players
4. Global BBQ Charcoal Market, by Product Type, 2018-2028 (US$ Bn)
4.1. Overview
4.2. Lump
4.3. Briquettes
5. Global BBQ Charcoal Market, by Source, 2018-2028 (US$ Bn)
5.1. Overview
5.2. Agricultural Waste
5.3. Nutshells
5.4. Hardwood
5.5. Bamboo
5.6. Coconut Shells
6. Global BBQ Charcoal Market, by Distribution Channel, 2018-2028 (US$ Bn)
6.1. Overview
6.2. Supermarkets/Hypermarkets
6.3. Specialty Stores
6.4. Online
6.5. Indirect
7. Global BBQ Charcoal Market, by End-user, 2018-2028 (US$ Bn)
7.1. Overview
7.2. Restaurant
7.3. Household
8. North America BBQ Charcoal Market Analysis, 2018-2028 (US$ Bn)
9. Europe BBQ Charcoal Market Analysis, 2018-2028 (US$ Bn)
10. Asia Pacific BBQ Charcoal Market Analysis, 2018-2028 (US$ Bn)
11. Rest of the World BBQ Charcoal Market Analysis, 2018-2028 (US$ Bn)
12. Company Profiles
12.1. Duraflame, Inc.
12.2. Royal Oak Enterprises, LLC.
12.3. Mesjaya Abadi Sdn. Bhd.
12.4. Gryfskand sp. Z o.o
12.5. Kingsford Products Company
12.6. Direct Charcoal Ltd.
12.7. Braai & BBQ International (Pty) Ltd.
12.8. CV. Elvatara Indojaya
12.9. Vigil Group
For more information about this report visit https://www.researchandmarkets.com/r/im8zfp
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