Italy: Natural Cork Market 2024

Natural Cork Market Size in Italy

In 2021, the Italian natural cork market was finally on the rise to reach $X for the first time since 2014, thus ending a six-year declining trend. Overall, consumption, however, continues to indicate a deep reduction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Natural Cork Production in Italy

In value terms, natural cork production expanded sharply to $X in 2021 estimated in export price. Overall, production continues to indicate a abrupt shrinkage. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Natural Cork Exports

Exports from Italy

In 2021, natural cork exports from Italy declined rapidly to X tons, reducing by -64.1% against the previous year. Over the period under review, exports, however, showed a noticeable expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 480%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, natural cork exports dropped markedly to $X in 2021. In general, exports, however, showed perceptible growth. The pace of growth was the most pronounced in 2018 with an increase of 231%. Over the period under review, the exports attained the maximum at $X in 2020, and then contracted significantly in the following year.

Exports by Country

Portugal (X tons) was the main destination for natural cork exports from Italy, with a 82% share of total exports. Moreover, natural cork exports to Portugal exceeded the volume sent to the second major destination, Spain (X tons), ninefold. Tunisia (X tons) ranked third in terms of total exports with a 4.1% share.

From 2012 to 2021, the average annual growth rate of volume to Portugal stood at +4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+3.1% per year) and Tunisia (+4.4% per year).

In value terms, Portugal ($X) remains the key foreign market for natural cork debacked or roughly squared exports from Italy, comprising 80% of total exports. The second position in the ranking was held by Tunisia ($X), with a 7% share of total exports. It was followed by Spain, with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Portugal totaled +9.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (+37.2% per year) and Spain (-5.1% per year).

Export Prices by Country

The average natural cork export price stood at $X per ton in 2021, jumping by 73% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The export price peaked at $X per ton in 2014; afterwards, it flattened through to 2021.

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 France ($X per ton), while the average price for exports to Spain ($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 Morocco (+77.0%), while the prices for the other major destinations experienced more modest paces of growth.

Natural Cork Imports

Imports into Italy

In 2021, after two years of decline, there was significant growth in supplies from abroad of natural cork debacked or roughly squared, when their volume increased by 69% to X tons. Over the period under review, imports, however, showed a dramatic descent. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, natural cork imports skyrocketed to $X in 2021. In general, imports, however, showed a dramatic downturn. The most prominent rate of growth was recorded in 2014 with an increase of 48%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Tunisia (X tons) constituted the largest natural cork supplier to Italy, with a 58% share of total imports. Moreover, natural cork imports from Tunisia exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. China (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Tunisia amounted to +28.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+60.5% per year) and China (+62.7% per year).

In value terms, the largest natural cork suppliers to Italy were Tunisia ($X), China ($X) and Germany ($X), with a combined 76% share of total imports.

Germany, with a CAGR of +53.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average natural cork import price amounted to $X per ton, declining by -26.9% against the previous year. In general, the import price saw a deep setback. The pace of growth was the most pronounced in 2017 when the average import price increased by 33% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (-4.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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