Charcoal Market is Expected to Gain USD 6,946.21 Million, Industry Trends, Growth, Share and Global Forecast Analysis by 2029 - Seite 2

In March 2022, Kingsford Products Company, a subsidiary of The Clorox Company launched new product line of signature flavored charcoals and hardwood pellets. The main objective of this product launch is to improve the grilling experience with various flavor and aroma. This will improve the product portfolio of the company

Charcoal Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Increase in urbanization and rapid industrialization had created substantial demand for charcoal

The demand for charcoal is increasing mainly due to urban population in developing countries. More than half the global population now lives in cities, and urban-dwellers are restricted to charcoal use because of easiness of production, access, transport, and tradition. Urbanization have influenced the type of fuels used and also the total energy consumption for different functions which have further increased the demand for charcoal production across the region.

• Rise in consumption of barbequed food

In much of the world, barbecuing is practically very common activity in many regions especially in summer time. And while some people grill with gas and electricity, many people also prefers grilling with charcoal gives their food with a particularly smoky flavour. Furthermore, charcoal is mostly used for recreational barbecuing in places like North America and Europe, but it's the primary cooking fuel in most African nations. In addition, it is reported that the market is majorly driven by the rising influence of grilled food worldwide and the growing adoption of grilled food among millennials. 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.