Key Highlights

The Asia charcoal briquettes market generated a value of USD 1,124.6 million in 2023, and it will increase to USD 1,711.5 million by 2030, with a 6.3% CAGR, by 2030.

The growth is because of the rising acceptance of barbecued food and the developing cement and steel sectors, where heat is highly essential.

The utilization of charcoal briquettes in cooking is substantially rising across the regional nations. Rising consciousness of a healthy lifestyle and shifting food preferences of people are leading to the increased consumption of food that is barbecued and grilled, which, sequentially, is offering push to the requirement for charcoal briquettes as cooking fuel.

Grilled food is becoming popular among individuals across this region, because of the different health advantages related to it. Generally, it is low in fat, because the excess oil drips off the grates in the process of cooking.

Trends in the food sector keep shifting with changing consumer requirements as well as tastes. Consumers always search for unique flavors to satisfy their appetites and are, thus, attracted to new cooking styles as well.

A major trend witnessed in the food sector over the past few years is the raised consumption of barbecued food, which mostly corresponds with a live cooking setting, well complemented by a lively atmosphere, great music, and a wide-ranging buffet spread.

Market Insights

• China is the largest contributor to the industry. This is because of the existence of numerous charcoal manufacturers and the high-volume usage of charcoal for food preparation in rural places and in the metallurgical sector, for various heat-intensive procedures.
• Japan is likely to advance at the fastest compound annual growth rate in the years to come, as the nation uses most of its charcoal briquettes in food grilling.
• The need for barbecued food is likely to surge in Japan, because of the influx of numerous international visitors.
• The hexagonal type led the industry. This is primarily because of its fondness among hotels and restaurants for preparing barbecued food. The hexagonal shape offers uniform heating in grilling, therefore, resulting in delicious food.
• The industrial application is likely to advance at the fastest compound annual growth rate in the coming years. Businesses favor charcoal, instead of coal, to contribute to the mitigation of global warming, as their burning does not result in any smoky emissions.
• The wood composition accounts for the largest share of the industry, and it will also advance at a faster CAGR during this decade. This is primarily because of the rising pollution across the globe. Wood provides a good heating effect and is renewable and easily available.
• The charcoal briquettes industry is very unorganized in this region, with the existence of many small companies.
• Many local and regional players cater to local preferences and markets, and they generally focus on specialty products or niche markets leveraging factors such as unique flavors or organic materials to distinguish themselves.
• Some nations that are major charcoal producers continue to play an important part in this industry, providing charcoal briquettes along with various other charcoal products.

Source: P&S Intelligence