Colombia: Natural Cork Stopper Market 2024

Natural Cork Stopper Market Size in Colombia

After two years of decline, the Colombian natural cork stopper market increased by 88% to $X in 2022. Overall, consumption saw a modest increase. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Natural Cork Stopper Exports

Exports from Colombia

In 2022, overseas shipments of corks and stoppers of natural cork decreased by 0% to X kg, falling for the second consecutive year after three years of growth. Over the period under review, exports showed a remarkable increase. The growth pace was the most rapid in 2013 with an increase of 200% against the previous year. Over the period under review, the exports attained the peak figure at X kg in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, natural cork stopper exports surged to $X in 2022. In general, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 409% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Canada (X kg), Aruba (X kg) and Portugal (X kg) were the main destinations of natural cork stopper exports from Colombia, with a combined 67% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +14.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X) remains the key foreign market for corks and stoppers of natural cork exports from Colombia, comprising 41% of total exports. The second position in the ranking was held by Portugal ($X), with a 15% share of total exports. It was followed by France, with an 8.4% share.

From 2012 to 2022, the average annual growth rate of value to Canada totaled +31.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (0.0% per year) and France (0.0% per year).

Export Prices by Country

The average natural cork stopper export price stood at $X per ton in 2022, jumping by 23% against the previous year. Overall, the export price saw a moderate expansion. The most prominent rate of growth was recorded in 2013 when the average export price increased by 70% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

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 Portugal ($X per ton), while the average price for exports to Aruba ($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 Canada (+14.8%), while the prices for the other major destinations experienced a decline.

Natural Cork Stopper Imports

Imports into Colombia

In 2022, supplies from abroad of corks and stoppers of natural cork was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports showed a relatively flat trend pattern. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, natural cork stopper imports skyrocketed to $X in 2022. In general, imports recorded a moderate increase. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Chile (X tons), Portugal (X tons) and China (X kg) were the main suppliers of natural cork stopper imports to Colombia, together accounting for 60% of total imports. France, Italy and Spain lagged somewhat behind, together comprising a further 5.7%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +5.1%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Portugal ($X) constituted the largest supplier of corks and stoppers of natural cork to Colombia, comprising 22% of total imports. The second position in the ranking was held by China ($X), with a 7.9% share of total imports. It was followed by Chile, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Portugal stood at -7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.7% per year) and Chile (-1.8% per year).

Import Prices by Country

In 2022, the average natural cork stopper import price amounted to $X per ton, declining by -26.2% against the previous year. Over the period under review, import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, natural cork stopper import price increased by +14.9% against 2019 indices. The most prominent rate of growth was recorded in 2016 an increase of 58% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat 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 Spain ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+30.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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