EU: Natural Cork Stopper Market 2024

Natural Cork Stopper Market Size in the EU

The EU natural cork stopper market surged to $X in 2022, increasing by 26% against the previous year. Over the period under review, consumption continues to indicate a notable expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Natural Cork Stopper Production in the EU

In value terms, natural cork stopper production stood at $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 13%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Natural Cork Stopper Exports

Exports in the EU

In 2022, overseas shipments of corks and stoppers of natural cork increased by 13% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 15%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, natural cork stopper exports fell to $X in 2022. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 16%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Portugal was the major exporter of corks and stoppers of natural cork in the European Union, with the volume of exports reaching X tons, which was approx. 57% of total exports in 2022. Spain (X tons) took the second position in the ranking, distantly followed by Italy (X tons). All these countries together held approx. 39% share of total exports. France (X tons) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +3.6%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Portugal ($X) remains the largest natural cork stopper supplier in the European Union, comprising 82% of total exports. The second position in the ranking was held by Spain ($X), with an 8.9% share of total exports. It was followed by France, with a 4.1% share.

From 2012 to 2022, the average annual growth rate of value in Portugal was relatively modest. In the other countries, the average annual rates were as follows: Spain (-4.7% per year) and France (+0.4% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2022, declining by -15% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the export price increased by 21% against the previous year. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($X per ton), while Spain ($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 (+3.0%), while the other leaders experienced mixed trends in the export price figures.

Natural Cork Stopper Imports

Imports in the EU

In 2022, purchases abroad of corks and stoppers of natural cork increased by 1.5% to X tons for the first time since 2016, thus ending a five-year declining trend. In general, imports, however, saw a pronounced descent. The growth pace was the most rapid in 2013 with an increase of 22%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, natural cork stopper imports expanded to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 16% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of natural cork stopper imports in 2022 were Spain (X tons), France (X tons) and Italy (X tons), together accounting for 82% of total import. It was distantly followed by Portugal (X tons), achieving a 10% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Portugal (with a CAGR of +5.1%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, France ($X), Italy ($X) and Spain ($X) were the countries with the highest levels of imports in 2022, with a combined 81% share of total imports. Portugal lagged somewhat behind, comprising a further 9.3%.

Portugal, with a CAGR of +2.3%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in the European Union stood at $X per ton in 2022, picking up by 1.6% against the previous year. Import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.2% 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 +23.9% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 28%. Over the period under review, import prices attained the peak figure in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+4.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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