Portland, OR, Feb. 22, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global firewood market generated $878.5 million in 2021, and is estimated to generate $1.5 billion by 2031, manifesting a CAGR of 4.2% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage and details:
| Report coverage | Details |
| Forecast Period | 2022-2031 |
| Base Year | 2021 |
| Market Size in 2021 | $878.5 million |
| Market Size in 2031 | $1.5 billion |
| CAGR | 4.2% |
| No. of Pages in Report | 250 |
| Segments covered | Distribution Channel, Wood Type, End User, and Region |
| Drivers | Increase in growth of the camping, and hospitality industry |
| Growing commercialization across every sector | |
| Rise in production volumes | |
| Opportunities | Major companies are moving forward to close the supply-demand gap. |
| Restraints | Alternative goods like electric heating and electric firewood logs are becoming popular. |
COVID-19 Scenario:
- The outbreak of the COVID-19 pandemic had a positive impact on the growth of the global firewood market.
- Due to the lower cost and greater availability compared to other fuels like liquefied petroleum gas, impoverished people in developing countries switched to using wood and charcoal during the pandemic, which led to significant growth in the market.
The research provides detailed segmentation of the global firewood market based on distribution channel, wood type, end user, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on distribution channel, the specialty stores segment held the largest share in 2021, accounting for more than two-fifths of the global firewood market and would maintain its dominance in terms of revenue through 2031. However, the e-commerce segment is estimated to witness the fastest CAGR of 6.1% during the forecast period. The report also discusses the hypermarkets and supermarkets, and business to business segments.
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Based on wood type, the log wood segment accounted for the highest share in 2021, contributing to more than half of the global firewood market, and is expected to maintain its lead in terms of revenue during the forecast period. In addition, the wood chips segment is expected to manifest the fastest CAGR of 5.6% from 2022 to 2031. The report also analyzes the pellets, and forestry residue segments.
Based on end-user, the commercial segment accounted for the highest share in 2021, contributing to more than two-thirds of the global firewood market and is expected to maintain its lead in terms of revenue during the forecast period. The residential segment is expected to manifest the fastest CAGR of 4.8% from 2022 to 2031.
Based on region, the Europe held the largest share in 2021, contributing to nearly two-fifths of the global firewood market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 5.6% during the forecast period.
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Leading Market Players
- Norestven Ltd.
- Woodbioma
- Premier Firewood Company
- JB Firewood Co.
- UAB Vli Timber
- Firewood Fuel MK
- Cutting Edge Firewood
- Wood Step
- Cornish Firewood
- Pinnacle Firewood Company
- The Log Store Group
- Lost Coast Forest Products
- Wilson Enterprises
- Surefire Wood
- Woodmill
The report provides a detailed analysis of these key players of the global firewood market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
