The growth of the charcoal briquette market is being fueled by multiple factors across residential, commercial, and industrial sectors. According to Expert Market Research, the global charcoal briquette market reached a value of USD 3.90 Billion in 2024 and is projected to grow at a CAGR of 6.20% during 2025-2034, reaching approximately USD 7.12 Billion by 2034.
Key Growth Drivers:
Rising Demand for Eco-Friendly Fuel
Charcoal briquettes are considered a more sustainable and cleaner alternative to traditional fuels like firewood and coal. Increasing awareness of environmental impact and carbon footprint is pushing both consumers and industries toward briquettes.
Popularity of Outdoor Cooking and Barbecues
The growing trend of outdoor cooking, grilling, and barbecues in both developed and emerging markets is driving higher household demand for charcoal briquettes. They offer convenience, longer burn time, and consistent heat compared to conventional wood.
Industrial and Commercial Usage
Industries such as metal smelting, ceramics, and food processing use charcoal briquettes as a cost-effective and efficient fuel source. The industrial demand, particularly in Asia-Pacific and Africa, contributes significantly to market growth.
Availability of Raw Materials
Many charcoal briquettes are made from agricultural waste, sawdust, and other biomass residues. The abundant availability of these raw materials ensures steady production and helps reduce manufacturing costs, making briquettes more affordable.
Government Initiatives and Support
Several governments are promoting cleaner and renewable energy sources, including biomass-based fuels. Subsidies, awareness campaigns, and incentives for sustainable energy adoption are indirectly boosting the charcoal briquette market.
Technological Advancements
Modern production technologies improve briquette density, combustion efficiency, and reduce emissions, making them more appealing to environmentally conscious consumers and industries.