Charcoal BBQ Market: Current Analysis and Forecast (2023-2030)
Emphasis on type (Lump Charcoal, Charcoal Briquettes, Others); User (Domestic or Personal, Commercial); Sales Channel (Offline, Online); and Region/Country
According to a new report by Univdatos Market Insights, the Charcoal BBQ Market, is expected to reach USD 5.3 billion in 2030 by growing at a CAGR of 6.5%. A few of the major factors contributing to the market growth are increasing health consciousness among people will also boost market growth. Increasing influence of grilled cuisine and the growing popularity of grilled meals across the world, especially among millennials is set to drive the market. Compared to other cooking methods like baking and frying, grilling allows food items like meat to retain more nutrients. As a result, prominent barbecue companies have started a new chain of barbecue restaurants in response to the increased demand for barbecued cuisine in the food and restaurant industries. For instance, according to a statement made by one of the largest barbecue chains in the world, Dickey’s Barbeque Pit, the company created six new barbeque franchises in major locations like Arizona, Arkansas, California, New Jersey, New Mexico, and Texas in 2021. As a result, there will be a greater need for BBQ charcoal, such as lump charcoal, to be utilised in these new barbeque restaurants for cooking food. This will accelerate the expansion of the barbecue charcoal market.
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 and Vigil Group are some of the key players in the Charcoal BBQ market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, lump charcoal category is anticipated to witness higher CAGR during the forecast period”
Based on type, the market is segmented into Lump Charcoal, Charcoal Briquettes and Others. Lump charcoal, which has a substantially highest CAGR during the forecast period, controlled the market for BBQ charcoal. A natural substance created without additives or filters, lump charcoal is simple to clean up after use. It produces a lot less ash, burns hotter, and illuminates more quickly than charcoal briquettes. Lump charcoal is widely used for a barbecue because of its unique properties. The growing acceptance of charcoal grills has benefitted the use of lump charcoal.
“Amongst end users, the commercial segment to hold a significant share in the market in 2020”
Based on end users, the market is divided into domestic and commercial segments. In 2020, the Charcoal BBQ market is anticipated to be led by the commercial segment. Attractive packaging and long shelf life are increasing the demand for BBQ charcoal at a rapid pace in commercial uses. BBQ charcoal demand increasing is majorly due to the commercial use of BBQ charcoal. The increase in the culture of outing, party, and celebration are expected to propel the demand for BBQ charcoal.
“Amongst sales channels, the offline segment to hold a significant share in the market in 2020”
Based on sales channels, the Charcoal BBQ market is segmented into offline and online. The offline segment still accounts for a sizeable portion of the market, although the online segment is anticipated to increase significantly during the forecast period. Due to their limited space and need for labor and high fixed expenses (rent), retail establishments must provide a wide range of goods, which creates potential for online selling channels. Online shops may sell a wide range of things without paying as many people to do so, but they need access to transportation businesses.
“North America to hold a significant share in the Charcoal BBQ market”
North America accounted for the highest share of the global barbecue market. When customers in nations like the U.S., Canada, and Mexico celebrate any kind of holiday, the focus is frequently on great food and overindulging. Their culture places a high value on eating barbecued cuisine, and most festivities and festive occasions have cookouts. The US held the largest market share in the North American region, majorly due to the presence of key market players, such as The Saint Louis Charcoal Company LLC., Basques Hardwood Charcoal, BOB–Q Charcoal, etc.
Charcoal BBQ Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional and country-level analysis of the industry
Customization Options:
The global Charcoal BBQ market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Charcoal BBQ Market Analysis (2022-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Charcoal BBQ market were the three major steps undertaken to create and analyze the adoption of the Charcoal BBQ in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Charcoal BBQ market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Charcoal BBQ market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Charcoal BBQ market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, end user, and sales channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Charcoal BBQ market. Further, we conducted factor analysis using dependent and independent variables such as type, end user, and sales channel of Charcoal BBQ. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Charcoal BBQ market across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Charcoal BBQ market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Charcoal BBQ across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Charcoal BBQ market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Charcoal BBQ market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the type, end user, and sales channel in the global Charcoal BBQ market.
The main objective of the Global Charcoal BBQ Market Study
The current & future market trends of the global Charcoal BBQ market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Charcoal BBQ market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the type, end user, and sales channel.
- Define and analysis of the regulatory framework for the Charcoal BBQ
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the Charcoal BBQ market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the Charcoal BBQ market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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