The global wine cork market size is expected to reach USD 7.8 billion by 2028, registering a CAGR of 4.6% over the forecast period. Rising inclination of millennials toward wine consumption from developed as well as developing countries is propelling the wine cork demand. Surging disposable income, increasing working population, and rising living standards along with changing alcoholic beverage preferences are some factors driving the growth of the market. Millennials are more experimental with respect to taste and consumption habits for certain alcoholic products such as wine, champagne, and beer. Thus, the increase in wine consumption presents untapped opportunities for major players to build or expand their facilities. In addition, increasing usage of social media marketing is further supporting the growth of the market.
Multiple administrations and authorities are taking reforms and initiatives such as an international guide for buying cork stoppers for wines have led to a substantial impact on the market. To improve the quality of corks, the technical forum i.e. Natural Cork User Group (NCUG) has collaborated with wineries, retailers, and the cork industry to simplify and maintain quality parameters throughout the supply chain of the cork manufacturing. Such initiative encourages the key players to invest in wine cork which has led to significant market growth. The global COVID 19 virus epidemic disrupted the supply chains and dented consumer demand. Bars, liquor stores, and restaurants were closed, which has resulted in a drop in sales and ultimately revenue.
Insufficient labor causes production to stop. Within the same period, increased home wine consumption, same-day delivery of food and alcohol, and higher levels of online wine sales by retailers and small wineries will support industry growth. The natural type segment contributed to the highest revenue share of 92.5% in 2021 as it is the most suitable material for the preservation of still wines and premium spirits. The micropores in the cork allow for the equally micro-oxidation in the wine, which improves the aging process. This natural cork guarantees the evolution and matureness of wine in the best conditions. However, the synthetic stoppers made of plastic are expected to witness the fastest CAGR over the forecast period as these corks are less susceptible to TCA contamination. In addition, these corks offer predictable oxygen transmission rates as well as a tight seal, and since they are not made of wood, synthetic corks do not deteriorate or dry out, thereby boosting the market.
Traditional offline retail accounted for the largest market share in 2021 due to more advanced distribution networks. The traditional offline retail market accounts for more than half of the market and is expected to maintain its dominance over the next few years. However, the online segment is expected to witness a CAGR of 5.5% from 2022 to 2028, owing to the rise in Covid-19 cases and various restrictions imposed by government organizations around the world. Europe is expected to be the largest shareholder of this market as majority of cork production is done in the region. Portugal is the leading producer of cork globally. Also, the prime reason for the growth of the market in this region is the increasing demand for different types of wines among young consumers.
The regional market is expected to grow fast during the forecast period (2022 - 2028), due to the increasing demand for wine in festivals and gatherings. Manufacturers are focusing on new product launches along with research and development activities such as the installation of sensors in wine machinery, and others. Wine cork manufacturing equipment involves various components such as sensors, actuators, and spargers. Prices for these parts and machinery used in winemaking change as per the capacity and winery size, and thus hinder the market in developing economies, where consumers are price-sensitive.
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Multiple administrations and authorities are taking reforms and initiatives such as an international guide for buying cork stoppers for wines have led to a substantial impact on the market. To improve the quality of corks, the technical forum i.e. Natural Cork User Group (NCUG) has collaborated with wineries, retailers, and the cork industry to simplify and maintain quality parameters throughout the supply chain of the cork manufacturing. Such initiative encourages the key players to invest in wine cork which has led to significant market growth. The global COVID 19 virus epidemic disrupted the supply chains and dented consumer demand. Bars, liquor stores, and restaurants were closed, which has resulted in a drop in sales and ultimately revenue.
Insufficient labor causes production to stop. Within the same period, increased home wine consumption, same-day delivery of food and alcohol, and higher levels of online wine sales by retailers and small wineries will support industry growth. The natural type segment contributed to the highest revenue share of 92.5% in 2021 as it is the most suitable material for the preservation of still wines and premium spirits. The micropores in the cork allow for the equally micro-oxidation in the wine, which improves the aging process. This natural cork guarantees the evolution and matureness of wine in the best conditions. However, the synthetic stoppers made of plastic are expected to witness the fastest CAGR over the forecast period as these corks are less susceptible to TCA contamination. In addition, these corks offer predictable oxygen transmission rates as well as a tight seal, and since they are not made of wood, synthetic corks do not deteriorate or dry out, thereby boosting the market.
Traditional offline retail accounted for the largest market share in 2021 due to more advanced distribution networks. The traditional offline retail market accounts for more than half of the market and is expected to maintain its dominance over the next few years. However, the online segment is expected to witness a CAGR of 5.5% from 2022 to 2028, owing to the rise in Covid-19 cases and various restrictions imposed by government organizations around the world. Europe is expected to be the largest shareholder of this market as majority of cork production is done in the region. Portugal is the leading producer of cork globally. Also, the prime reason for the growth of the market in this region is the increasing demand for different types of wines among young consumers.
The regional market is expected to grow fast during the forecast period (2022 - 2028), due to the increasing demand for wine in festivals and gatherings. Manufacturers are focusing on new product launches along with research and development activities such as the installation of sensors in wine machinery, and others. Wine cork manufacturing equipment involves various components such as sensors, actuators, and spargers. Prices for these parts and machinery used in winemaking change as per the capacity and winery size, and thus hinder the market in developing economies, where consumers are price-sensitive.
Wine Cork Market Report Highlights
- Europe dominated the market by contributing around 90.0% of the global revenue in 2021 due to the rising production of cork in this region. The region is also expected to register the fastest CAGR of 4.7% from 2022 to 2028 owing to the rising demand for wines by the millennial population in developed countries
- The natural segment contributed to the highest revenue share of 92.5% in 2021 due to rising demand for natural corks for the aging wines
- The offline distribution channel held the largest revenue share of more than 70.0% in 2021 due to the increasing demand for wine corks by larger vendor’s orders
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Table of Contents
Chapter 1. Methodology and Scope1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Information & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Type Outlook
2.3. Distribution Channel Outlook
2.4. Competitive Insights
Chapter 3. Wine Cork Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.5.1. Industry Analysis - Porter’s
3.5.1.1. Supplier Power
3.5.1.2. Buyer Power
3.5.1.3. Substitution Threat
3.5.1.4. Threat from New Entrant
3.5.1.5. Competitive Rivalry
3.6. Roadmap of Wine Cork Market
3.7. Market Entry Strategies
3.8. Impact of COVID-19
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Type Adoption
4.4. Observations & Recommendations
Chapter 5. Wine Cork Market: Type Estimates & Trend Analysis
5.1. Type Movement Analysis & Market Share, 2021 & 2028
5.2. Natural
5.2.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
5.3. Synthetic
5.3.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
Chapter 6. Wine Cork Market: Distribution Channel Estimates & Trend Analysis
6.1. Distribution Channel Movement Analysis & Market Share, 2021 & 2028
6.2. Offline
6.2.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
6.3. Online
6.3.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
Chapter 7. Wine Cork Market: Regional Estimates & Trend Analysis
7.1. Regional Movement Analysis & Market Share, 2021 & 2028
7.2. North America
7.2.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.2.2. Market Estimates and Forecast, by type, 2017 - 2028 (USD Million)
7.2.3. Market Estimates and Forecast, by distribution channel, 2017 - 2028 (USD Million)
7.2.4. U.S.
7.2.4.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.2.4.2. Market Estimates and Forecast, by type, 2017 - 2028 (USD Million)
7.2.4.3. Market Estimates and Forecast, by distribution channel, 2017 - 2028 (USD Million)
7.3. Europe
7.3.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.3.2. Market Estimates and Forecast, by type, 2017 - 2028 (USD Million)
7.3.3. Market Estimates and Forecast, by distribution channel, 2017 - 2028 (USD Million)
7.3.4. Portugal
7.3.4.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.3.4.2. Market Estimates and Forecast, by type, 2017 - 2028 (USD Million)
7.3.4.3. Market Estimates and Forecast, by distribution channel, 2017 - 2028 (USD Million)
7.3.5. Spain
7.3.5.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.3.5.2. Market Estimates and Forecast, by type, 2017 - 2028 (USD Million)
7.3.5.3. Market Estimates and Forecast, by distribution channel, 2017 - 2028 (USD Million)
7.3.6. France
7.3.6.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.3.6.2. Market Estimates and Forecast, by type, 2017 - 2028 (USD Million)
7.3.6.3. Market Estimates and Forecast, by distribution channel, 2017 - 2028 (USD Million)
7.4. Asia Pacific
7.4.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.4.2. Market Estimates and Forecast, by type, 2017 - 2028 (USD Million)
7.4.3. Market Estimates and Forecast, by distribution channel, 2017 - 2028 (USD Million)
7.4.4. China
7.4.4.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.4.4.2. Market Estimates and Forecast, by type, 2017 - 2028 (USD Million)
7.4.4.3. Market Estimates and Forecast, by distribution channel, 2017 - 2028 (USD Million)
7.4.5. Japan
7.4.5.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.4.5.2. Market Estimates and Forecast, by type, 2017 - 2028 (USD Million)
7.4.5.3. Market Estimates and Forecast, by distribution channel, 2017 - 2028 (USD Million)
7.5. Central & South America
7.5.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.5.2. Market Estimates and Forecast, by type, 2017 - 2028 (USD Million)
7.5.3. Market Estimates and Forecast, by distribution channel, 2017 - 2028 (USD Million)
7.5.4. Chile
7.5.4.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.5.4.2. Market Estimates and Forecast, by type, 2017 - 2028 (USD Million)
7.5.4.3. Market Estimates and Forecast, by distribution channel, 2017 - 2028 (USD Million)
7.6. Middle East & Africa
7.6.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.6.2. Market Estimates and Forecast, by type, 2017 - 2028 (USD Million)
7.6.3. Market Estimates and Forecast, by distribution channel, 2017 - 2028 (USD Million)
7.6.4. Saudi Arabia
7.6.4.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.6.4.2. Market Estimates and Forecast, by type, 2017 - 2028 (USD Million)
7.6.4.3. Market Estimates and Forecast, by distribution channel, 2017 - 2028 (USD Million)
Chapter 8. Competitive Analysis
8.1. Key Global Players, Recent Developments & their impact on the industry
8.2. Key Company/Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
8.3. Vendor Landscape
8.3.1. Key Company Market Share Analysis, 2021
Chapter 9. Company Profiles
9.1. Amorim Cork, S.A, Ltd.
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Product Benchmarking
9.1.4. Strategic Initiatives
9.2. Jelinek Cork Group
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Product Benchmarking
9.2.4. Strategic Initiatives
9.3. Waterloo Container Company
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Product Benchmarking
9.3.4. Strategic Initiatives
9.4. J. C. Ribeiro, S. A.
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Product Benchmarking
9.4.4. Strategic Initiatives
9.5. We Cork Inc.
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. Product Benchmarking
9.5.4. Strategic Initiatives
9.6. Elkem Silicones limited
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. Product Benchmarking
9.6.4. Strategic Initiatives
9.7. Precision Elite limited company
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. Product Benchmarking
9.7.4. Strategic Initiatives
9.8. Widgetco, Inc.
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. Product Benchmarking
9.8.4. Strategic Initiatives
9.9. Allstates Rubber & Tool Corp
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. Product Benchmarking
9.9.4. Strategic Initiatives
9.10. M.A. Silva Corks USA, LLC
9.10.1. Company Overview
9.10.2. Financial Performance
9.10.3. Product Benchmarking
9.10.4. Strategic Initiatives
List of Tables
Table 1 Wine Cork Market- Key Market Driver Analysis
Table 2 Wine Cork Market- Key Market Restraint Analysis
Table 3 Global Wine Cork Market Estimates and Forecast By Type, 2017 - 2028 (USD Million)
Table 4 Global Wine Cork Market Estimates and Forecast By Distribution Channels, 2017 - 2028 (USD Million)
Table 5 North America Wine Cork Market Estimates and Forecast, 2017 - 2028 (USD Million)
Table 6 North America Wine Cork Market Estimates and Forecast By Type, 2017 - 2028 (USD Million)
Table 7 North America Wine Cork Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
Table 8 U.S. Wine Cork Market Estimates and Forecast, 2017 - 2028 (USD Million)
Table 9 U.S. Wine Cork Market Estimates and Forecast By Type, 2017 - 2028 (USD Million)
Table 10 U.S. Wine Cork Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
Table 11 Europe Wine Cork Market Estimates and Forecast, 2017 - 2028 (USD Million)
Table 12 Europe Wine Cork Market Estimates and Forecast By Type, 2017 - 2028 (USD Million)
Table 13 Europe Wine Cork Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
Table 14 Portugal Wine Cork Market Estimates and Forecast, 2017 - 2028 (USD Million)
Table 15 Portugal Wine Cork Market Estimates and Forecast By Type, 2017 - 2028 (USD Million)
Table 16 Portugal Wine Cork Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
Table 17 Spain Wine Cork Market Estimates and Forecast, 2017 - 2028 (USD Million)
Table 18 Spain Wine Cork Market Estimates and Forecast By Type, 2017 - 2028 (USD Million)
Table 19 Spain Wine Cork Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
Table 20 France Wine Cork Market Estimates and Forecast, 2017 - 2028 (USD Million)
Table 21 France Wine Cork Market Estimates and Forecast By Type, 2017 - 2028 (USD Million)
Table 22 France Wine Cork Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
Table 23 Asia Pacific Wine Cork Market Estimates and Forecast, 2017 - 2028 (USD Million)
Table 24 Asia Pacific Wine Cork Market Estimates and Forecast By Type, 2017 - 2028 (USD Million)
Table 25 Asia Pacific Wine Cork Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
Table 26 China Wine Cork Market Estimates and Forecast, 2017 - 2028 (USD Million)
Table 27 China Wine Cork Market Estimates and Forecast By Type, 2017 - 2028 (USD Million)
Table 28 China Wine Cork Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
Table 29 Japan Wine Cork Market Estimates and Forecast, 2017 - 2028 (USD Million)
Table 30 Japan Wine Cork Market Estimates and Forecast By Type, 2017 - 2028 (USD Million)
Table 31 Japan Wine Cork Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
Table 32 Central & South America Wine Cork Market Estimates and Forecast, 2017 - 2028 (USD Million)
Table 33 Central & South America Wine Cork Market Estimates and Forecast By Type, 2017 - 2028 (USD Million)
Table 34 Central & South America Wine Cork Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
Table 35 Chile Wine Cork Market Estimates and Forecast, 2017 - 2028 (USD Million)
Table 36 Chile Wine Cork Market Estimates and Forecast By Type, 2017 - 2028 (USD Million)
Table 37 Chile Wine Cork Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
Table 38 Middle East & Africa Wine Cork Market Estimates and Forecast, 2017 - 2028 (USD Million)
Table 39 Middle East & Africa Wine Cork Market Estimates and Forecast By Type, 2017 - 2028 (USD Million)
Table 40 Middle East & Africa Wine Cork Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
Table 41 Saudi Arabia Wine Cork Market Estimates and Forecast, 2017 - 2028 (USD Million)
Table 42 Saudi Arabia Wine Cork Market Estimates and Forecast By Type, 2017 - 2028 (USD Million)
Table 43 Saudi Arabia Wine Cork Market Estimates and Forecast By Distribution Channel, 2017 - 2028 (USD Million)
Table 44 Vendor Landscape
List of Figures
Fig. 1 Wine Cork Market Snapshot
Fig. 2 Wine Cork Market Segmentation & Scope
Fig. 3 Wine Cork Market Penetration & Growth Prospect Mapping
Fig. 4 Wine Cork Market Value Chain Analysis
Fig. 5 Wine Cork Market Dynamics
Fig. 6 Wine Cork Market Porter's Analysis
Fig. 7 Wine Cork Market: Type Movement Analysis
Fig. 8 Wine Cork Market: Distribution Channel Movement Analysis
Fig. 9 Wine Cork Market: Regional Movement Analysis
Companies Mentioned
- Amorim Cork, S.A, Ltd.
- Jelinek Cork Group
- Waterloo Container Company
- J. C. Ribeiro, S. A.
- We Cork Inc.
- Elkem Silicones limited
- Precision Elite limited company
- Widgetco, Inc.
- Allstates Rubber & Tool Corp
- M.A. Silva Corks USA, LLC
Methodology
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