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The wine corks market size is forecasted to increase by USD 3.14 billion and is estimated to grow at a CAGR of 5.47% between 2023 and 2028. The market is experiencing significant growth, driven by several key factors. The increasing global consumption of wine, fueled by its perceived health benefits, is a primary catalyst for market expansion. Wine is not only enjoyed as a beverage but also finds extensive use in the food industry, particularly in the wine and food pairing culture. Furthermore, the shift towards sustainable and eco-friendly packaging solutions is boosting the demand for natural corks, which are biodegradable and renewable. Consequently, the market is expected for continued growth in the coming years.
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The market encompasses various types of corks, including natural corks derived from the bark of Cork oak trees and synthetic corks made from plastic or other synthetic materials. Wine corks play a crucial role in preserving the quality of wines by preventing moisture, spillage, oxidants, and microorganisms from entering the bottle. The coronavirus crisis and subsequent lockdowns have significantly impacted the wine industry, with closures of bars, restaurants, and hotels leading to a decrease in demand for still wines and sparkling wines. As a result, the market has experienced fluctuations. Natural corks have been the traditional choice for wine stoppers due to their physical and chemical properties that provide an airtight seal. However, synthetic corks and glass stoppers, as well as screw caps, have gained popularity due to their cost-effectiveness and reliability. Muselets, a decorative wire cage used to secure natural corks, add an aesthetic value to the wine bottles. The market for wine corks is expected to grow as the demand for wine continues to rise, with consumers seeking high-quality wine preservation solutions. In summary, the market is a dynamic and evolving industry that caters to the diverse needs of the wine industry, with natural and synthetic corks, glass stoppers, and screw caps offering various benefits to wine producers and consumers. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising demand for wine is notably driving the market growth. The demand for wine has increased significantly in various countries, such as China, over the past decade. The production of wine grapes is rapidly increasing in China. The increasing export and import of wine drive the demand for wine corks. Moreover, the rise in the penetration of e-commerce has increased the online demand for wine in China. Companies operating in the wine industry operate through both online and offline channels and sell a wide range of wines. They also offer in-store pickup and door-to-door deliveries. These factors are expected to boost the demand for wine corks in China.
In India, the opening of new wineries is expected to propel the growth of the wine cork market in the country. For instance, in October 2021, Moonshine Meadery announced that it is in the process of establishing a market for meads in India. The winery announced that Apple Cyder Mead and Coffee Mead would be available in leading liquor retail outlets across Guwahati, Assam. Such developments are expected to drive the growth of the global market during the forecast period.
The growing online wine retailing is a key trend shaping the market. The demand for online retailing of wine is increasing globally owing to faster delivery services and competitive prices. Online retailing is expected to record fast growth during the forecast period. The number of brands and wine producers that sell their products online has grown substantially since 2020. For instance, online sales of wine grew with a share of 68% in 2020 when compared to spirits (18%) and beer (13%).
Small and local companies are also offering their products online. Many established players in wine logistics are adopting organic and inorganic growth strategies to improve their delivery services. companies that manufacture wine can sell their products online at lucrative prices. They can also add videos and full descriptions to attract customers. In addition, online sales platform eliminates middlemen such as distributors, thus enabling companies to offer products at competitive prices. Therefore, the growing adoption of online sales channels is expected to increase the profit margins of wine companies, which, in turn, will drive the demand for wine cork during the forecast period.
Campaigns against alcohol consumption may impede market growth. Many regulatory and social organizations have launched campaigns against alcohol consumption due to the rising incidence of alcohol abuse and alcohol-related accidents. Various organizations aim to educate and spread awareness among people regarding the harmful impacts of consuming alcoholic beverages. For instance, in November 2021, The Pan-American Health Organization (PAHO) launched a new campaign, Live Better, Drink Less, to raise awareness about the harmful effect of alcohol consumption.
The governments of various countries, including the state governments of India, have imposed laws and regulations regarding the advertisement and promotion of alcoholic beverages. The implementation of such laws makes it difficult for manufacturers to sell their products, which is expected to limit the growth of the market during the forecast period. Therefore, public campaigns against the consumption of different acholic beverages, such as wine, are expected to have a negative impact on the growth of the wine industry. This, in turn, will negatively impact the growth of the global market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Allstates Rubber and Tool Corp. - The company offers a wide range of rubber corks, such as A038, A0390, and A0775.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the natural segment will be significant during the forecast period. Natural wine corks are derived from tree bark. They are suitable as closures for wine bottles and are primarily used for red wines that need to be aged for more than two years. Natural wine corks are categorized into various grades depending on the quality of the bark.
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The natural segment was valued at USD 4.76 billion in 2018 and continued to grow until 2022. The rising demand for wine is fueling the demand for natural wine corks. There are numerous untapped markets for wine in APAC, which is expected to have a positive impact on the market. As a result, several new players have entered this segment. Europe and North America are also expected to contribute significantly to the global market owing to the high consumption of wine. Hence, such factors are fuelling the growth of this segment during the forecast period.
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Europe is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The growth of the market in the region is attributed to factors such as the high demand for wine. France was one of the major markets for wine in Europe in 2022. The demand for wine is also increasing in countries such as Germany and Italy. Several new players have entered the wine industry in Europe. Moreover, the number of wineries in the region is expected to double during the forecast period. Such developments are expected to increase the demand for wine corks. Therefore, the market is expected to grow at a significant pace during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
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The market is experiencing significant growth due to the increasing popularity of novel wines and the innovation in designer corks. The market is segmented into natural cork, synthetic cork, and plastic cork, each serving different segments of the wine industry. Natural cork remains a popular choice among traditional winemakers for its superior oxygen transfer rates, while synthetic cork and plastic cork offer cost-effective and durable alternatives. Wine consumption is on the rise, especially on cruise ships, where luxury and premium products are highly sought after. This trend is bolstered by the health benefits associated with moderate wine drinking, such as reduced risks of heart disease, stroke, and diabetes. Additionally, the bakery and confectionery sector and wine tourism are contributing to the demand for wine, further propelling the market for corks.
In terms of sustainability, recyclable corks and cork recycling services are gaining traction. Companies like Burlington Drinks are exploring recycled sugar cane and plant-based polymers for eco-friendly cork production. The natural type segment is also seeing innovations with recyclable corks and cork recycling services, appealing to environmentally conscious consumers. The market's distribution channels are evolving, with a significant shift towards the online distribution channel, making it easier for consumers to access a variety of corks. The use of sensors and automation in production, as well as robotics in quality control, ensures the physical properties of corks meet industry standards. Events like Vinexpo and Prowein provide platforms for global market players to showcase their products, explore market opportunities, and understand competitors. Export business is flourishing, especially in developing economies, driven by the increasing wine culture among Millennials and Boomers. With strategic product positioning and a keen eye on the sales cycle, importers and exporters can tap into the growing demand for quality wine corks. Market research and market growth analysis highlight the potential for innovation and sustainability in the wine cork industry. As the market continues to evolve, companies must stay ahead of trends and technological advancements to maintain their competitive edge.
Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.47% |
Market growth 2024-2028 |
USD 3.14 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.08 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 33% |
Key countries |
US, France, Italy, Germany, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Advance Cork International, Allstates Rubber and Tool Corp., BOUCHONS LECLERCQ ET FILS, Corticeira Amorim S.G.P.S S.A., DIAM BOUCHAGE SAS, J C RIBEIRO, JACORK, Jelinek Cork Group, Korkindustrie Trier GmbH and Co. KG, M A Silva USA, Nagpal Cork and Jointing, Portuguese Cork Association, Precisionelite, Sugherificio Martinese and Figli srl, Vinocor, Vinventions LLC, Waterloo Container Co., We Cork Inc., WidgetCo Inc., and Zandur |
Market dynamics |
Parent market analysis, market research and growth, Market forecasting, market report, market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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