Israel: Natural Cork Market 2024

Natural Cork Market Size in Israel

In 2021, the Israeli natural cork market decreased by -77.4% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption, however, recorded significant growth. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Natural Cork Production in Israel

In value terms, natural cork production stood at $X in 2021 estimated in export price. Overall, production recorded a precipitous shrinkage. The growth pace was the most rapid in 2020 when the production volume decreased by 99.9%. Natural cork production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Natural Cork Exports

Exports from Israel

In 2021, natural cork exports from Israel fell rapidly to X tons, reducing by -33.1% on the previous year. In general, exports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 228%. Over the period under review, the exports hit record highs at X tons in 2020, and then shrank remarkably in the following year.

In value terms, natural cork exports declined rapidly to $X in 2021. Overall, exports, however, saw slight growth. The growth pace was the most rapid in 2017 when exports increased by 67%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for natural cork exports from Israel, with a 81% share of total exports. Moreover, natural cork exports to Japan exceeded the volume sent to the second major destination, the UK (X kg), fivefold.

From 2012 to 2021, the average annual growth rate of volume to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-7.5% per year) and Canada (-19.4% per year).

In value terms, Japan ($X) emerged as the key foreign market for natural cork debacked or roughly squared exports from Israel, comprising 52% of total exports. The second position in the ranking was taken by the UK ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-11.2% per year) and Canada (-25.5% per year).

Export Prices by Country

The average natural cork export price stood at $X per ton in 2021, dropping by -20.2% against the previous year. Overall, the export price showed a deep slump. The most prominent rate of growth was recorded in 2016 an increase of 140% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Japan ($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 UK (-3.9%).

Natural Cork Imports

Imports into Israel

In 2021, approx. X kg of natural cork debacked or roughly squared were imported into Israel; which is down by -98.8% compared with 2020. Over the period under review, imports recorded a abrupt descent. The growth pace was the most rapid in 2020 when imports increased by 1,808%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, natural cork imports fell markedly to $X in 2021. Overall, imports recorded a abrupt decline. The growth pace was the most rapid in 2020 when imports increased by 1,780% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Portugal (X kg) constituted the largest supplier of natural cork to Israel, accounting for a 75% share of total imports. Moreover, natural cork imports from Portugal exceeded the figures recorded by the second-largest supplier, China (X kg), sevenfold. Italy (X kg) ranked third in terms of total imports with a 7% share.

From 2012 to 2021, the average annual growth rate of volume from Portugal amounted to +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-8.4% per year) and Italy (-16.3% per year).

In value terms, Portugal ($X) constituted the largest supplier of natural cork debacked or roughly squared to Israel, comprising 72% of total imports. The second position in the ranking was taken by China ($X), with an 11% share of total imports. It was followed by Spain, with a 3.8% share.

From 2012 to 2021, the average annual growth rate of value from Portugal stood at +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-10.1% per year) and Spain (+10.9% per year).

Import Prices by Country

The average natural cork import price stood at $X per ton in 2021, waning by -14.6% against the previous year. Over the period under review, the import price recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2019 when the average import price increased by 15%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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