Charcoal Market Size (2024 - 2029)

The charcoal market is projected to experience growth over the forecast period, driven by increased demand in the cooking fuel industry and a resurgence in barbequed food consumption post-pandemic. Despite challenges posed by stringent government regulations on forest products due to climate change, the market is expected to expand, with opportunities arising from the rising demand for air purifiers in polluted urban areas. The Asia-Pacific region leads in market share, with significant consumption in countries such as China, India, and Japan.

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Market Size of Charcoal Industry

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Charcoal Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) 4.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Charcoal Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Charcoal Market Analysis

The Charcoal Market size is estimated at 69.86 Million tons in 2024, and is expected to reach 85.24 Million tons by 2029, growing at a CAGR of greater than 4% during the forecast period (2024-2029).

The charcoal market experienced a negative impact due to the COVID-19 pandemic, resulting in a lower estimated year-on-year growth rate compared to 2019, attributed to reduced activities in related sectors. However, the market rebounded post-COVID-19, with notable growth anticipated due to increased demand for barbequed food, driving overall market growth.

  • Increasing demand for charcoal consumption from the cooking fuel industry is expected to fuel the market growth.
  • On the flip side, stringent government regulations on forest products owing to climate change worldwide are hindering the market's growth.
  • Rising demand for air purifiers in cities with the substantial increases in pollution levels and growing awareness related to personal hygiene after the COVID-19 pandemic and others are likely to create opportunities for the market in the coming years.
  • The Asia-Pacific region dominated the market worldwide, with countries like China, India, and Japan being the largest customers.

Charcoal Industry Segmentation

Charcoal is an inorganic carbon-based compound that is obtained by the incomplete combustion of animal and plant products within a low-oxygen environment. Generally, it is produced by burning wood and other organic matter such as cellulose, bagasse, bones, and others. The charcoal is manufactured using both traditional and technologically advanced methods. Under the traditional method, pit kilns are used to produce low-quality charcoal, whereas, under the modern method, industrial equipment is used to manufacture high-quality charcoal with a carbon content of over 82%.

The charcoal market is segmented by product type, application, and geography. By product type, the market is segmented into briquettes, hardwood lumps, coconut shells, binchotan, and other product types (sugar charcoal, mangrove, shisha, sawdust, and root). By application, the market is segmented into cooking fuel, metallurgical fuel, water and air purification, healthcare, cosmetics and personal care, and other applications (barbeque and horticulture). The report also covers the market size and forecasts for the charcoal market in 15 countries across major regions. 

For each segment, the market sizing and forecasts have been done on the basis of volume (kilo tons).

Product Type
Briquettes
Hardwood Lump
Coconut Shell
Binchotan
Other Product Types (Sugar charcoal, Mangrove, Shisha, Sawdust, and Root)
Application
Cooking Fuel
Metallurgical Fuel
Water and Air Purification
Healthcare
Cosmetics and Personal Care
Other Applications (Barbeque and Horticulture)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Charcoal Market Size Summary

The charcoal market is poised for significant growth over the forecast period, driven by increasing demand in the cooking fuel industry and the rising popularity of barbecued food. The market, which faced setbacks due to the COVID-19 pandemic, has shown resilience and is expected to expand as urbanization and technological advancements make charcoal more accessible. Charcoal's benefits, such as quick lighting, smokeless fire, and high calorific value, make it a preferred choice in many developing countries, where it serves as a primary cooking fuel. Additionally, the demand for clean metallurgical fuel in the iron and steel industry is anticipated to further propel market growth, given charcoal's high heating capacity and lower carbon emissions compared to coal.

The Asia-Pacific region, particularly China and India, is expected to dominate the charcoal market due to high consumption across various industries. In China, the demand for charcoal is bolstered by its use in the steel industry and its health-related applications, while in India, increased healthcare spending post-pandemic is likely to benefit the market. The region's growing pollution levels are also driving the demand for air purifiers, which may create additional opportunities for charcoal. The market is characterized by fragmentation, with key players like Kingsford Products Company and Royal Oak Charcoal expanding their product offerings and production capabilities to meet the rising demand.

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Charcoal Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Rising Demand for Cooking Fuel Industry

      2. 1.1.2 Increasing Demand for Detoxifying Agents in Healthcare Industry

      3. 1.1.3 Growing Demand from Iron and Steel, and Cement Industry

    2. 1.2 Restraints

      1. 1.2.1 Stringent Government Regulations on Forest Products Worldwide

      2. 1.2.2 Environmental Concerns and Deforestation

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size In Volume)

    1. 2.1 Product Type

      1. 2.1.1 Briquettes

      2. 2.1.2 Hardwood Lump

      3. 2.1.3 Coconut Shell

      4. 2.1.4 Binchotan

      5. 2.1.5 Other Product Types (Sugar charcoal, Mangrove, Shisha, Sawdust, and Root)

    2. 2.2 Application

      1. 2.2.1 Cooking Fuel

      2. 2.2.2 Metallurgical Fuel

      3. 2.2.3 Water and Air Purification

      4. 2.2.4 Healthcare

      5. 2.2.5 Cosmetics and Personal Care

      6. 2.2.6 Other Applications (Barbeque and Horticulture)

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Charcoal Market Size FAQs

The Charcoal Market size is expected to reach 69.86 million tons in 2024 and grow at a CAGR of greater than 4% to reach 85.24 million tons by 2029.

In 2024, the Charcoal Market size is expected to reach 69.86 million tons.

Charcoal Market Report Snapshots

Charcoal Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)