The latest market report published by Credence Research, Inc. “Barbeque (BBQ) Charcoal Market – Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the BBQ charcoal market was valued at US$ 1.72 Bn in 2018 and expected to grow at a CAGR of 6.7% during the forecast period from 2019 to 2027.
Market Insights
Inclination towards grilled food among people worldwide will boost the demand for BBQ charcoal Market
Inclination towards grilled food among people worldwide and rising adoption of BBQ grill at home are the major factors driving the market growth during the forecast period from 2019-2027. In 2018, North America was dominant in the global BBQ charcoal market by revenue and by consumption.
Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/bbq-charcoal-market
Rising BBQ grill market will also boost the barbeque (BBQ) charcoal market growth in years to come. The global BBQ grill market was valued at US$ 3.5 Bn in 2018 and is expected to grow with a CAGR of nearly 4% in years to come. The Growing adoption of BBQ grill is due to their benefits such as less oil use, nutritionally advantageous food, less fat, and others. Rising urbanization and an increase in spending patterns led to inclination towards grilled food, which is helping the market to grow. barbeque (BBQ) charcoal grills are portable and can be used while picnicking or camping.
Major market players are focusing on acquisitions, mergers, and partnerships to increase their geographic presence and market share.
Industrial Developments
In 2017, Kingsford Products Company, a subsidiary of Clorox Company and CBQ, LLC subsidiary of Carl Budding & Company collaborated for the production of ribs that are cooked in barbecue entrees. With this collaboration, both companies were desired to capture good market share in the barbecued food market in years to come.
Key Market Movements:
- Worldwide, the barbeque (BBQ) charcoal market is growing at a CAGR of 6.7% for the expected period from 2019 to 2027
- North America dominates the global barbeque (BBQ) charcoal market owing to the rising adoption of grilled food and increased inclination towards healthy food. The U.S. dominates the market in North America with more than 70% of the North America BBQ charcoal market.
- Asia Pacific will be the fastest-growing market followed by Europe. Growing BBQ grill market, inclination towards a healthy lifestyle and rising disposable income in the Asia Pacific region will boost the demand in years to come.
- Based on end-user, the market is divided into restaurant and household segments. The restaurant segment has the highest share in the global barbeque (BBQ) charcoal market owing to increased consumer preference for grilled food worldwide.
- Mergers, collaborations, and partnerships will be the major strategies by the market players. The new product launch, especially for BBQ is also one of the strategies followed by the market players.
List of Companies Covered:
• Duraflame, Inc.
• Royal Oak Enterprises, LLC.
• Mesjaya Abadi Sdn. Bhd.
• Gryfskand sp. Z o.o
• Kingsford Products Company
• Direct Charcoal Ltd.
• Braai & BBQ International (Pty) Ltd.
• CV. Elvatara Indojaya
• Vigil Group
• Royal Oak Enterprises, LLC.
• Mesjaya Abadi Sdn. Bhd.
• Gryfskand sp. Z o.o
• Kingsford Products Company
• Direct Charcoal Ltd.
• Braai & BBQ International (Pty) Ltd.
• CV. Elvatara Indojaya
• Vigil Group
Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/60153
Market Segmentation
By Product Type
• Lump
• Briquettes
By Source Type
• Agricultural Waste
• Nutshells
• Hardwood
• Bamboo
• Coconut Shells
By Distribution Channel Type
• Supermarkets/Hypermarkets
• Specialty Stores
• Online
• Indirect
By End-user Type
• Restaurant
• Household
By Geography Segment Type
- North America (the U.S., Rest of North America)
- Europe (U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, Japan, India, Rest of Asia Pacific)
- Rest of the World (the Middle East & Africa, Latin America)
Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/60153
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