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Global Wine Cork Market to Grow at a CAGR of 7.4% During 2022-2027, Aided by Increased Wine Consumption Worldwide

According to a new report by EMR titled, ‘Global Wine Cork Market Report and Forecast 2022-2027’, the market attained a value of around USD 22.4 billion in 2020. The industry is further expected to grow at a CAGR of 7.4% between 2022 and 2027.

The wine cork industry has been driven by the increased consumption of wine worldwide. This can be attributed to the numerous health benefits associated with wine intake including improved antioxidant intake, reduced risk of cardiovascular disorders, and decreased risk of hypertension and diabetes, among others. In addition, the age-old tradition of sealing wine bottles with the cork obtained from the oak tree is important to sustain the oxidation process of wine so that the drink can age till the time of consumption. Over the forecast period, the increasing demand for synthetic and new types of corks is likely to propel the industry growth. The market is estimated to be further aided by the penetration of improved technology in the process of wine cork manufacturing. These processes include extrusion moulding, injection moulding, or a combination of extrusion and injection moulding, among others.

In January 2021, Corticeira Amorim launched Naturity and Xpür, technologies designed to remove detectable Trichloroanisole (TCA) from natural wine corks and to make a new segment of micro agglomerated stoppers, respectively. TCA can contaminate the wine, causing musty aroma and flavour. This innovative step is considered as one of the greenest and efficient anti-TCA technology, without any artificial elements used, which is likely to bring revolution and support the global demand for wine corks. Furthermore, the growing availability of a wide range of wine corks across online portals such as Amazon (NASDAQ: AMZN) and Alibaba (NYSE: BABA) is expected to support the market growth in the forecast period.

In terms of region, North America is likely to account for a significant share in the market, owing to the thriving food and beverage sector, along with the growing popularity of wine among the youth. The rising consumption of wine in countries like the United States and Canada is likely to support the sales of wine cork in the region. Meanwhile, Europe is expected to witness a significant demand for corks, owing to the traditional wine-drinking culture in countries like Portugal, Spain, and France, among others. Furthermore, a large number of oak trees in Portugal are propelling the production of cork in the region.

Market Breakup by Type, Distribution Channel, and Region:

  • The market is segmented, based on type, into natural and synthetic.
  • The distribution channels of the product include offline and online. 
  • Region-wise, the global market for wine cork can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for wine cork is being driven by the increased demand for natural corks for sealing wine bottles so that the wine can continue to age till the time of consumption.
  • The market growth is expected to be accelerated by the rising demand for synthetic and recycled cork solutions. 
  • The technological advancements in the cork manufacturing process are also aiding the market growth. 
  • The market is estimated to be further aided by the thriving food and beverage industry in the forecast period.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for wine cork for the periods (2017-2021) and (2022-2027). 
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the    types, distribution channels, and regions of wine cork.
  • It assesses the regional price trends for the (2017-2021) and (2022-2027) periods.
  • The market report also analyses the trade data by covering the major importing and exporting countries.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global wine cork market are PrecisionElite, Waterloo Container Company, J. C. Ribeiro, S. A., Amorim Cork, S.A., We Cork Inc., Jelinek Cork Group, Widgetco, Inc., and M.A. Silva USA, LLC., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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