Belgium: Natural Cork Stopper Market 2024

Natural Cork Stopper Market Size in Belgium

The Belgian natural cork stopper market declined to $X in 2022, waning by -12.4% against the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Natural Cork Stopper Production in Belgium

In value terms, natural cork stopper production declined to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by 44%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Natural Cork Stopper Exports

Exports from Belgium

In 2022, shipments abroad of corks and stoppers of natural cork decreased by -10.4% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, exports saw a deep reduction. The most prominent rate of growth was recorded in 2016 with an increase of 320%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, natural cork stopper exports shrank significantly to $X in 2022. Over the period under review, exports continue to indicate a deep reduction. The growth pace was the most rapid in 2016 when exports increased by 846% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The UK (X tons) was the main destination for natural cork stopper exports from Belgium, accounting for a 59% share of total exports. Moreover, natural cork stopper exports to the UK exceeded the volume sent to the second major destination, Madagascar (X kg), sixfold. The Netherlands (X kg) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK amounted to +66.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Madagascar (-3.4% per year) and the Netherlands (-12.7% per year).

In value terms, the largest markets for natural cork stopper exported from Belgium were the UK ($X), the Netherlands ($X) and Madagascar ($X), together accounting for 61% of total exports. France, Germany, Sweden, Denmark, South Korea, Switzerland and the United States lagged somewhat behind, together comprising a further 29%.

Switzerland, with a CAGR of +57.9%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average natural cork stopper export price stood at $X per ton in 2022, dropping by -30.9% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 125% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+20.7%), while the prices for the other major destinations experienced more modest paces of growth.

Natural Cork Stopper Imports

Imports into Belgium

In 2022, overseas purchases of corks and stoppers of natural cork decreased by -63.8% to X tons, falling for the second consecutive year after two years of growth. Overall, imports, however, recorded a perceptible increase. The growth pace was the most rapid in 2013 with an increase of 437% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, natural cork stopper imports contracted dramatically to $X in 2022. In general, imports, however, showed pronounced growth. The growth pace was the most rapid in 2013 with an increase of 334%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Portugal (X tons) constituted the largest supplier of natural cork stopper to Belgium, accounting for a 73% share of total imports. Moreover, natural cork stopper imports from Portugal exceeded the figures recorded by the second-largest supplier, Germany (X tons), eightfold. The United States (X tons) ranked third in terms of total imports with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Portugal totaled +15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+50.1% per year) and the United States (+60.5% per year).

In value terms, Portugal ($X) constituted the largest supplier of corks and stoppers of natural cork to Belgium, comprising 78% of total imports. The second position in the ranking was held by the United States ($X), with a 6.9% share of total imports. It was followed by Germany, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value from Portugal totaled +15.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+44.8% per year) and Germany (+26.4% per year).

Import Prices by Country

The average natural cork stopper import price stood at $X per ton in 2022, surging by 43% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+13.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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