Charcoal market is growing for large demand of BBQ
The demand for grilled food in regions such as Asia and Africa has been growing for the traditional food culture and wood resources. That has created a vast space for the development of the charcoal market. Because grilling food requires little or no oil, it is considered healthy. As a result, more and more countries prefer grilled food. Also, with the growing popularity of this culinary concept, competition among grill restaurants in each region is expected to intensify.
Barbecue culture is gaining popularity in emerging economies such as China, where consumers are increasingly embracing the idea of grilling their favorite food in an open area. So the charcoal industry also maintains its upward momentum. According to the global and Chinese charcoal industry research report issued by the relevant research center, the charcoal briquettes market in Asia will grow at a CAGR of 6.0% during the forecast period, and will reach US$1.086 billion by 2024.
Because people generally like to use charcoal blocks instead of natural wood for grilling food. Because charcoal has high calorific value, short cooking time. In addition, there is no open fire during the cooking process, and the smoke is small. By shape type, the charcoal briquettes market in Asia has been segmented into hexagonal, quadrilateral, round, and others.
Among them, the hexagon has the largest charcoal market share, which is due to the popularity of the hexagon in the entertainment industry, especially in hotels and restaurants, where people like to purchase hexagonal charcoal as barbecue charcoal. Compared to other types of charcoal blocks, consumers prefer the hexagonal shape because it is bulkier, has a longer burn time, is heated, and is easy to produce.
The raw materials of the charcoal processing plant come from the scraps of furniture factories, bamboo processing factories, etc., and can also be rice husks, peanut shells, straw, coconut shells, etc. These raw materials are easy to obtain and the price is very cheap, the recycling price is about three or four hundred Yuan per ton, but after being processed into charcoal, it can be sold for about 2800-4500 yuan per ton, so the profit is very considerable.
Therefore, it is wise to invest in the charcoal business now. The cost of investing in the charcoal business is low for the raw materials are easy to obtain, the price of the charcoal briquette machine is low, the floor space is small, and the charcoal can be produced without a large site.