Charcoal is a manmade black carbon residue product that is produced by plant materials such as wood.

GUADALAJARA, JALISCO, MEXICO, June 28, 2022 /EINPresswire.com/ -- Market Definition

Charcoal is a manmade black carbon residue product that is produced by plant materials such as wood. This process is carried out in the presence of oxygen to remove volatile and water constitutes Due to increased demand for the product in recreational cooking and metal manufacturing, building & construction, healthcare, industrial filtration, and pharmaceutical applications, the North American charcoal market is estimated to develop significantly over the forecast period. In recreational cooking, charcoal can be used as a substitute for coal. In addition, the increased popularity of barbeque cooking in restaurants is likely to boost demand for charcoal.

Market Analysis and Size

Data Bridge Market Research analyses that the North America charcoal market is expected to reach the value of USD 463.73 million by 2029, at a CAGR of 1.8% during the forecast period. The charcoal market report also covers pricing analysis, patent analysis, and technological advancements in depth.     

The scope of a reliable North America Charcoal market report extends from market scenarios to comparative pricing between major players, cost, and profit of the specified market regions. When globalization is intensifying day by day, many businesses call for global market research for actionable market insights and to support decision-making. Market drivers and market restraints mentioned in this market analysis report help businesses gain an idea about the production strategy. Also, the identity of respondents is also kept undisclosed and no promotional approach is made to them while analyzing the data. A wide-ranging North America Charcoal market report speaks about the manufacturing process, type, and applications.

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With the winning North America Charcoal market report study, key opportunities in the market and influencing factors are provided which is useful to take the business to the highest level. By including detailed statistics and market research insights, this business report is generated which results in high growth and thriving sustainability in the market for the businesses. This all-inclusive market survey report additionally encompasses predictions utilizing a practical arrangement of uncertainties and techniques. An expert team analyses and forecasts market data using well-established market statistical and rational models to make North America Charcoal report outstanding.

Charcoal Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:

Drivers

An increase in urbanization and rapid industrialization had created substantial demand for charcoal

The demand for charcoal is increasing mainly due to the urban population in developing countries. More than half the North America population now lives in cities, and urban-dwellers are restricted to charcoal use because of the easiness of production, access, transport, and tradition. Urbanization has influenced the type of fuels used and also the total energy consumption for different functions which have further increased the demand for charcoal production across the region.

The rise in consumption of barbequed food

In much of the world, barbecuing is practically a very common activity in many regions, especially in the summertime. And while some people grill with gas and electricity, many people also prefer grilling with charcoal gives their food a particularly smoky flavor. Furthermore, charcoal is mostly used for recreational barbecuing in places like North America and Europe, but it’s the primary cooking fuel in most African nations. In addition, it is reported that the market is majorly driven by the rising influence of grilled food worldwide and the growing adoption of grilled food among millennials. In addition, lockdown restrictions and the need to maintain social distancing due to the ongoing COVID-19 pandemic have resulted in more number of people staying at home. Thereby, an increasing number of people have been engaged in-home cooking and organizing small social events at home. This situation has resulted in an increasing demand for home cooking equipment and materials.

Opportunities

The shift toward the improved stoves and higher efficiencies

Traditional stoves for heating and cooking at the household level are typically inefficient and generate considerable indoor air pollution, which can be deleterious to human health. Improved cook stoves have been deployed in many countries in attempts to improve cooking and heating efficiency and reduce indoor pollution in domestic households. Furthermore, charcoal can be burned cleanly and safely if prepared properly and used correctly with inefficient appliances. Improved cook stoves are convex in shape and insulated on all sides. Because of their insulation, they require less charcoal to generate an equivalent amount of useful heat, and they retain heat for longer. Also, recently there is the introduction of improved cookstoves that can reduce GHG emissions by improving fuel efficiency and thereby reducing demand for charcoal for the same quantity of cooking energy.

Restraints/Challenges

Stringent government regulations for charcoal production

A number of policies and standards have been initiated for charcoal production to ensure the quality and safe handling of the product. For instance, Canada Consumer Product Safety Act (S.C. 2010, c. 21) addresses the prevention to human health or safety that is posed by consumer products in Canada, including those that circulate within Canada and those that are imported.

Inadequate baseline information for policy formulation related to charcoal

Population growth and the shift from firewood to charcoal were highlighted as the main driving factors for the growth of the charcoal market. However, wood-fuel exploitation alone clearly does not provide a summary explanation for ongoing deforestation on a national scale.  The problems related to wood fuel have increased due to unstructured baseline information related to various policies of charcoal production, which have further created the demand and supply gap for charcoal across the region. Therefore, precise data on the charcoal value chain needs to be provided as an excellent entry point for shaping proper policy frameworks. This will also offer an opportunity to the various stakeholders to add knowledge, innovation capital, and technology at each step or link in the value chain of charcoal production. Hence, the inadequate baseline information for policy formulation is creating a major challenge for the market to grow.

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Competitive Landscape and Charcoal Market Share Analysis

The charcoal market competitive landscape provides details about competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the charcoal market.

Some of the major players operating in the charcoal market are Rancher Charcoal, The Clorox Company, Fire & Flavor, Timber Charcoal Company LLC, FogoCharcoal.com, Mesjaya Sdn Bhd, maurobera.com, Royal Oak Enterprises, LLC., Duraflame, Inc.

Post-COVID-19 Impact on Charcoal Market

COVID-19 created a major impact on the charcoal market as almost every country has opted for the shutdown of every production facility except the ones dealing in producing the essential goods.

The COVID-19 pandemic has impacted the charcoal market to an extent a negative manner. So, the market has resulted in a lower estimated year-on-year growth rate as compared with 2019 because of the fewer amounts of activities in the sectors associated with the charcoal market. However, the growth has been high since the market opened after COVID-19, and it is expected that there would be considerable growth in the sector owing to the higher demand for barbequed food. And this factor is further expected to drive the overall growth of the market.

Manufacturers are making various strategic decisions to bounce back post-COVID-19. The players are conducting multiple research and development activities to improve the technology involved in the charcoal. With this, the companies will bring advanced technologies to the market. In addition, government initiatives for the usage of the electric vehicles have led to the market's growth

Recent Development

In March 2022, Kingsford Products Company, a subsidiary of The Clorox Company launched a new product line of signature flavored charcoals and hardwood pellets. The main objective of this product launch is to improve the grilling experience with various flavors and aromas. This will improve the product portfolio of the company

North America Charcoal Market Scope

The charcoal market is segmented on the basis of product and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

Lump Charcoal
Charcoal Briquettes
Japanese Charcoal
Sugar Charcoal
Others

On the basis of product, the North America charcoal market is segmented into lump charcoal, charcoal briquettes, Japanese charcoal, sugar charcoal, and others.

Application

Outdoor Activities
Restaurant Business
Metallurgical Fuel
Industrial Fuel
Filtration
Others

On the basis of application, the North America charcoal market has been segmented into below outdoor activities, restaurant business, metallurgical fuel, industrial fuel, filtration, and others.

Charcoal Market Regional Analysis/Insights

The charcoal market is analyzed and market size insights and trends are provided by country, product, and application as referenced above.

The countries covered in the charcoal market report are U.S., Canada, and Mexico in North America. U.S. dominates the North American market due to increasing urbanization and rapid industrialization has created substantial demand for charcoal.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North American brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.

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Related Reports:

Global Charcoal Market – Industry Trends and Forecast to 2029: https://www.databridgemarketresearch.com/reports/global-charcoal-market

Middle East and Africa Charcoal Market – Industry Trends and Forecast to 2029: https://www.databridgemarketresearch.com/reports/middle-east-and-africa-charcoal-market

Europe Charcoal Market – Industry Trends and Forecast to 2029: https://www.databridgemarketresearch.com/reports/europe-charcoal-market

Asia-Pacific Charcoal Market – Industry Trends and Forecast to 2029: https://www.databridgemarketresearch.com/reports/asia-pacific-charcoal-market

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