Market Size of Charcoal Industry
| Study Period | 2019-2029 |
| Market Volume (2024) | 69.86 Million tons |
| Market Volume (2029) | 85.24 Million tons |
| CAGR (2024 - 2029) | > 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
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.
