Growing Barbecue Culture Propelling Demand for Charcoal Briquettes in Asia

This is one of the key reasons that P&S Intelligence says will help the Asian charcoal briquettes market reach $1,158.4 million by 2024 from $952.5 million in 2019, at a 6.2% CAGR between 2020 and 2024. Barbecue has, for long, been associated with the culinary culture of South Korea, Japan, and Australia, whereas the tandoor is, in a way, synonymous with Indian food. All these food traditions have majorly utilized coal till now, but with time, the awareness about the harms of burning this substance has risen massively. Charcoal is considered a cleaner fuel for the purpose, which is why it has started replacing coal.

India is presently the largest Asian charcoal briquettes market because it is home to a number of producers, therefore accounts for a rather high-volume availability of the fuel. In 2018, 2,880.0 thousand tons of the fuel were produced in the country, says the Food and Agriculture Organization (FAO), which allowed for its easy availability in rural areas, where many people still do not have gas stoves and rely on charcoal for everyday cooking. Moreover, the fuel is also becoming popular for industrial usage in the country.

Here, charcoal briquettes are increasingly becoming preferred in the cement and steel industries, both of which are growing on account of the increasing construction activities. These sectors majorly utilize coconut shell charcoal briquettes, as they are less polluting than conventional charcoal and easily available and produce less ash. Owing to the strict environmental regulations on industries, conventional fuel such as coal is being replaced with these briquettes, especially in heaters and boilers. Another sector these briquettes are finding increasing usage in is silicon, owing to the rising demand for aluminum–silicon alloys in the country.

Thus, with the dual utility of charcoal briquettes for cooking and industrial use, their consumption will keep increasing in Asia.

Read more: https://www.psmarketresearch.com/market-analysis/asia-charcoal-briquettes-market-outlook

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