|Published||Report Code||Available Format||Pages|
The Asian charcoal briquettes market stood at $952.5 million in 2019, and the market size is expected to showcase a CAGR of 6.2% during the forecast period (2020–2024). The increasing popularity of barbecued food and growing steel and cement industries, where heat is of high importance, are some of the key factors behind the expansion of the charcoal briquettes industry in the region.
In the light of Covid-19, the Asian charcoal briquettes market is likely to be negatively impacted. In the region, several countries, including Japan and South Korea, which are import-oriented for charcoal briquettes, are facing difficulties in procuring these products. The import of charcoal briquettes by these countries is more than their domestic production, and since the pandemic has disrupted the supply chain globally, these countries are finding it difficult to source charcoal briquettes.
Further, due to the complete lockdown throughout several countries, the hospitality sector has been shut down to a large extent, in order to avoid unnecessary gatherings, which may increase the risk of the spread of the coronavirus disease. This has severely affected the consumption of barbecued food in this region, which requires charcoal briquettes for grilling.
The hexagonal category accounted for the largest share in the Asian charcoal briquettes market in 2019, based on type. This is mainly ascribed to its preference among restaurants and hotels for the preparation of barbecued food. The hexagonal shape provides uniform heating during grilling, thus resulting in tasty food. Further, the easy conversion of non-uniformly shaped charcoal to the hexagonal shape, which results in its higher availability, is also propelling its demand.
Based on application, the use of charcoal briquettes in industrial applications is projected to showcase the fastest growth during the forecast period. Industries are preferring charcoal, in place of coal, in order to contribute in the mitigation of global warming, as their burning does not lead to any smoky emission. Further, in several countries, governments are imposing stringent regulations to protect the environment, which, in turn, has added to the demand for non-smoky fuels, including charcoal.
Moreover, charcoal briquettes are utilized in silicon manufacturing, which is increasing in the region because of the growing use of aluminum–silicon alloys in the automotive sector. This, in turn, is contributing to the growth of the charcoal briquettes market in Asia.
India held the largest market share, in terms of volume, in the Asian charcoal briquettes market in 2019. As per theFood and Agriculture Organization of the United Nations(FAO), India produced 2,880.0 thousand tons of charcoal in 2018, which was the highest in Asia. In India, the presence of a large number of charcoal manufacturers and high-volume consumption of charcoal for food preparation in rural areas and in the metallurgical industry, for various heat-intensive processes, drive the growth of the market. Further, the changing consumer food preferences are also propelling the demand for charcoal briquettes in the county.
Japan is expected to showcase the fastest growth in the charcoal briquettes market of Asia during the forecast period. The country utilizes almost all of its charcoal briquettes in grilling food, and since the 2020 Olympics (postponed to 2021) will take place in Japan, the demand for barbecued food is set to increase in the nation, owing to the arrival of a large number of international visitors. To meet the growing demand for barbecued food, the country will import a greater amount of charcoal briquettes than present.
The most prominent trend being observed in the charcoal briquettes market of Asia is the increasing demand for barbecued food. Barbecue is a food tradition deeply rooted in the history of developed economies, such as the U.S. and Germany. However, in recent years, the barbecue culture has extended beyond these developed nations, to all parts of the world, especially Asian countries. With the growing interest of people in barbecued meals, the demand for barbecue fuel and accessories is on the rise.
Charcoal briquettes are increasingly being utilized as a fuel for barbecue applications, with the barbecues themselves being preferred over gas grills, as they not only provide a caramelized exterior to the food, but also lend a smoky flavor to it. Hence, the growing consumer inclination toward barbecued food is resulting in the increasing consumption of charcoal briquettes in the Asian region.
The use of charcoal briquettes in cooking is significantly increasing across Asian countries. Asia has a diverse culture, with every country having its signature cooking styles and cuisines. However, the increasing awareness on a healthy lifestyle and changing food preferences of people can be seen in every country. As a result, the consumption of food that is grilled or barbecued is increasing in the region, which, in turn, is providing impetus to the demand for charcoal briquettes as cooking fuel.
Grilled food is gaining popularity among people across the region, owing to the various health benefits associated with it, especially low fat content, as the excess oil drips off the grates during the cooking process. Moreover, grilled food retains much of its nutritional value, as the process locks in more moisture and consumes less oil or butter. Owing to such benefits, the demand for grilled food is expected to surge in the foreseeable future, which, in turn, would result in an increase in the demand for charcoal briquettes.
The region is home to the top three steel-producing countries in the world, namely China, India, and Japan. As pertheWorld Steel Association, steel production inChina stood at 996.3 million metric tons in 2019, against 928.3 million metric tons in 2018; and India produced 111.2 million metric tons in 2019, against 109.3 million metric tons in 2018. The growing production of steel, mainly in India and China, is resulting in a high demand for fuels like charcoal briquettes, which can provide a high amount of heat for the production process.
Charcoal briquettes are a cost-effective raw material, which is why they work well as a substitute for traditional fuels. In addition to this attribute, charcoal briquettes have a low production cost, and they are also considered a clean and renewable source of energy.
|Base Year (2019) Market Size||$952.5 Million|
|Forecast Period (2020-2024) CAGR||6.2%|
|Report Coverage||Market Dynamics, Import–Export Analysis, Revenue Estimation and Forecast, Segmentation Analysis, Country Breakdown, Companies’ Strategic Developments, Competitive Benchmarking, Company Profiling|
|Market Size by Segments||Type, Application, Country|
|Market Size of Geographies||China, India, Japan, South Korea, Australia, Singapore, Thailand, Indonesia, Philippines|
|Secondary Sources and References (Partial List)||Association of Southeast Asian Nations, Center for Strategic and International Studies, China Timber & Wood Product Distribution Association, Food and Agriculture Organization, Forest Stewardship Council, Global Cement and Concrete Association, Global Cement Magazine, Hearth, Patio & Barbecue Association, HVS Global Hospitality Services, Indian Steel Association, International Cement Review, International Monetary Fund, International Trade Centre, National Barbecue & Grilling Association, Organisation for Economic Co-operation and Development, QSR Magazine, UN Comtrade, United Nations World Tourism Organization, World Bank, World BBQ Culinary Association Ltd., World Cement Association, World Coal Association, World Health Organization, World Steel Association|
The charcoal briquettes market is highly unorganized in the region, with the presence of numerous small players. Some of the players are COCO Energy, Mackay Green Energy Inc., Matsuri International Co. Ltd., Mesjaya Abadi Sdn Bhd, PT. Coconut Charcoal Briquette Factory, Sagar Charcoal and Firewood Depot, Subur Tiasa Holdings Berhad, PT. Ruby Privatindo, Life Green Charcoal Sdn Bhd, and Thailand Premium Charcoal Supplier.
Companies are using various strategic initiatives to increase their revenue. For instance:
The Asian charcoal briquettes market offers comprehensive market segmentation analysis along with market estimation for the period 2014–2024.
Based on Type
Based on Application