The Asian charcoal briquettes market was valued at $952.5 million in 2019, and it is predicted to reach a revenue of $1,158.4 million by 2024. According to the estimates of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 6.2% from 2020 to 2024 (forecast period). The market is being propelled by the growing popularity of barbecued food items and expanding steel and cement industries, where heat is critically required, across the region. 

Grilled food is being increasingly preferred by the inhabitants of Asian countries, on account of their health benefits. Moreover, grilled foods retain most of the nutritional value, as the cooking process locks in moisture and requires less butter or oil. Because of these factors, the popularity of grilled foods is surging in Asia. Besides, the soaring adoption of charcoal briquettes for cooking various dishes and cuisines in various Asian countries is also driving the growth of the Asian charcoal briquettes market. 

For Getting Sample Pages of This Report:-

https://www.psmarketresearch.com/market-analysis/asia-charcoal-briquettes-market-outlook/report-sample

Depending on type, the market is divided into coconut shell, round, octagonal, and hexagonal categories. Out of these, the hexagonal category contributed the highest revenue to the market during the last few years. This was because of the extensive use of hexagonal charcoal briquettes in the hospitality industry, especially at restaurants and hotels, for grilling purposes. Moreover, consumers prefer hexagonal charcoal briquettes, as they provide long burn time, easier production, and uniform heating. 

When application is taken into consideration, the Asian charcoal briquettes market is divided into industrial, metallurgical, and barbecue. Out of these, the industrial category is predicted to demonstrate the fastest growth in the market in the coming years. This is ascribed to the growing adoption of charcoal briquettes as a fuel in the crop processing, food processing, and textile industries and industrial boilers. Moreover, the enactment of strict environmental regulations by the governments of several countries is also propelling the advancement of the category. 

Hence, the sales of charcoal briquettes will surge sharply in Asia in the coming years, mainly because of the soaring popularity of grilled and barbecued food items in the region.