India: Natural Cork Market 2025

Natural Cork Market Size in India

After two years of growth, the Indian natural cork market decreased by -76.6% to $X in 2021. Over the period under review, consumption showed a abrupt descent. Over the period under review, the market hit record highs at $X in 2020, and then fell dramatically in the following year.

Natural Cork Production in India

In value terms, natural cork production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when the production volume increased by 22%. As a result, production reached the peak level of $X, and then shrank in the following year.

Natural Cork Exports

Exports from India

In 2021, overseas shipments of natural cork debacked or roughly squared were finally on the rise to reach X tons after two years of decline. Over the period under review, exports saw a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, natural cork exports surged to $X in 2021. Overall, exports posted buoyant growth. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons), Bangladesh (X tons) and Nigeria (X tons) were the main destinations of natural cork exports from India, together comprising 63% of total exports. South Africa, Tanzania, Pakistan, Saudi Arabia and the United Arab Emirates lagged somewhat behind, together comprising a further 10%.

From 2012 to 2021, the biggest increases were recorded for Pakistan (with a CAGR of +77.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for natural cork exported from India were Bangladesh ($X), Nigeria ($X) and Indonesia ($X), together comprising 54% of total exports. South Africa, Pakistan, Saudi Arabia, Tanzania and the United Arab Emirates lagged somewhat behind, together accounting for a further 11%.

In terms of the main countries of destination, Pakistan, with a CAGR of +70.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average natural cork export price amounted to $X per ton, dropping by -67.7% against the previous year. In general, the export price continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2020 an increase of 84%. As a result, the export price reached the peak level of $X per ton, and then fell dramatically in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+14.0%), while the prices for the other major destinations experienced mixed trend patterns.

Natural Cork Imports

Imports into India

For the fourth year in a row, India recorded decline in overseas purchases of natural cork debacked or roughly squared, which decreased by -30.7% to X kg in 2021. In general, imports saw a abrupt curtailment. The growth pace was the most rapid in 2014 with an increase of 6,157%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, natural cork imports dropped significantly to $X in 2021. Over the period under review, imports saw a deep contraction. The pace of growth appeared the most rapid in 2014 with an increase of 3,175% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Kuwait (X kg) constituted the largest supplier of natural cork to India, with a 15% share of total imports. Moreover, natural cork imports from Kuwait exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X kg), ninefold. The third position in this ranking was held by the United States (X kg), with a 1.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Kuwait totaled -31.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (0.0% per year) and the United States (-22.6% per year).

In value terms, the largest natural cork suppliers to India were the United States ($X), Hong Kong SAR ($X) and Italy ($X), together comprising 20% of total imports. France, China, Kuwait, Portugal and Japan lagged somewhat behind, together comprising a further 12%.

In terms of the main suppliers, France, with a CAGR of +84.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average natural cork import price stood at $X per ton in 2021, almost unchanged from the previous year. In general, the import price, however, posted a prominent expansion. The pace of growth was the most pronounced in 2019 when the average import price increased by 151% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+41.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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