Charcoal Grill Market to Reach USD 1.50 Billion By 2027 - Axiom MRC
Date: December 2020
The global charcoal grill market is rising at a significant pace, projected to rise at a CAGR of 3.75% during the estimated period from 2021 to 2027, starting from USD 1.21 Bn in 2020. Lockdown restrictions and the need to maintain social distancing due to the ongoing COVID-19 pandemic have resulted in large 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. Since barbequed food has enjoyed immense popularity in home-style cooking on account of its ease and taste, the charcoal grill market is expected to witness significant growth during the forecast period from 2021 to 2027.
Portable charcoal grill segment dominated the global market in 2020
In context to type, the portable dominated the global charcoal grill market valuing USD 675.84 million in 2020 and is likely to be worth USD 850.23 million by 2027. Rapid urbanization, changing lifestyles, shifting food consumption behavior, have been boosting the sales of portable charcoal grills over the years across the globe. There have been various developments in the hospitality sector, which are estimated to boost the market and demand for charcoal barbecues in the near future.
Commercial segment dominated the market, by application, valuing USD 761.27 million in 2020
With increasing complexity in consumer dynamics due to professional and personal commitments, the frequency of fresh cooking has gone down, leading to a positive impact on sales of food from the commercial kitchens. Commercial kitchens are found in cafeterias, hotels, hospitals, educational, and workplace facilities and these kitchens require heavy-duty equipment such as commercial grills for meeting the demand of the customers for quick services to them. The launch of charcoal grills with innovative features and technological advancement along with different sizes will help to enhance the growth of the charcoal grill market.
North America dominated the global market in 2020
North America held the largest market share of global charcoal grill market from many years. The market here is anticipated to grow at a CAGR of 3.64% during the forecast period, to reach at USD 761.20 million by 2027. The massive presence of various global and domestic charcoal grill manufacturers, distributors and suppliers across the North America, growing technological advancements in grills and grilling accessories by these manufacturers, rising emergence of other competitive barbecue and growing market for barbecue industry are expected to expand growth of market in NA region, during forecast period.
The key competitors of this market include Weber-Stephen Products (U.S.), The Coleman Company(U.S.)., Masterbuilt Grills (U.S.), PK Grills (U.S.), Char-Griller (U.S.), Dyna-Glo (U.S.), Vision Grills (U.S.), LANDMANN (Germany), Fire Sense (U.S.), Char-Broil (U.S.), Kingsford (U.S.), Meco Corporation (U.S.).