A number of factors such as the low cost of charcoal briquettes, rich tradition of barbecue food, and rise in tourist arrivals in the nation to experience its scenic landscapes, rich culture, and soul-satisfying food are projected to propel the growth of the South African charcoal briquettes market at a CAGR of 8.8% in the forecast period (2020–2030). According to P&S Intelligence, the market generated $136.0 million revenue in 2019, and it is expected to reach $286.7 million by 2030. Moreover, the market is witnessing a trend of surging usage of instant-light charcoal briquettes.
One of the prime factors propelling the market growth is the low cost of charcoal briquettes. In South Africa, charcoal briquettes are commonly used for cooking purposes, as people prefer these over other cooking fuels, including kerosene and liquified petroleum gas (LPG), owing to their low cost. The cost is less because charcoal briquettes are made of wood and powder, which is left after the manufacture of charcoal. Moreover, these are packed in a bag, which is easy to handle during transportation. This further decreases their transportation costs, thereby reducing the overall costs of charcoal briquettes.
Read Full Report: South Africa Charcoal Briquettes Market Revenue Estimation and Growth Forecast Report
The South African charcoal briquettes market is highly fragmented, with the presence of several small, unorganized companies. These companies are mainly located in rural areas of the nation, which is the main reason that they are not following all mandatory standards for the manufacturing of charcoal briquettes. This generates an opportunity for organized companies to improve their position in the industry. Some of the major companies in the market are Namchar (Pty) Ltd., E & C Charcoal (Pty) Ltd., Umlilo Charcoal Products (Pty) Ltd., Braai & BBQ, Safari Braai Products, Blaze Braai, and Braaistar.
Thus, the low cost of charcoal briquettes, rich tradition of barbecue food, and rise in tourist arrivals in the country are expected to propel the market growth during the forecast period.
