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The Philippines charcoal market is forecasted to account for a value size of $688.2 million by 2030, from its value of $500.0 million in 2019, with the market demonstrating a CAGR of 2.9% during the 2020–2030 period. The country has high volume traditional dependency on charcoal, with the product occupying a significant share in the country’s energy mix in serving residential and commercial energy requirements.
Philippines Charcoal Market Segmentation Analysis
In 2019, in terms of value, lump charcoal is predicted to generate the largest demand in the Philippines charcoal market. The lump charcoal variant is majorly used in residential and commercial facilities to serve as a cooking fuel and thereby, its demand is generated in high-volumes in the country.
Historically, cooking fuel generated the highest demand in the Philippines charcoal market. THE DEMAND FOR the conventional energy resource in residential and commercial facilities for cooking is preferred due to low cost of the product in comparison to other power sources, ease of production, and high-performance attributes (low smell and sufficient heat production). In all their totality, these factors are attributed as factors which contribute in generating the high-volume demand for charcoal in the country.
Competitive Landscape of Philippines Charcoal Market
The market is highly disorganized with a small number of domestic companies operating in the Philippines charcoal market. These players are small to medium scale enterprises and in recent times, have added green charcoal in their product portfolios, to effectively navigate environment and regulatory constraints. BF Industries Inc., Cenapro Inc., Celebes Agricultural Corporation, Jacobi Group, MacKay Green Energy Inc., GCF Multi Products Development Corporation, and Premium A.C. Corporation are some of the major players engaged in country’s charcoal market.
Key Questions Addressed/Answered in the Report