Latin America and the Caribbean: Natural Cork Market 2025

Natural Cork Market Size in Latin America and the Caribbean

The Latin American natural cork market skyrocketed to $X in 2021, with an increase of 17% against the previous year. In general, consumption, however, continues to indicate a mild slump. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Natural Cork Production in Latin America and the Caribbean

In value terms, natural cork production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production recorded a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 2,227% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Natural Cork Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of natural cork debacked or roughly squared decreased by -9.3% to X kg, falling for the second consecutive year after two years of growth. Over the period under review, exports faced a abrupt downturn. The pace of growth appeared the most rapid in 2014 when exports increased by 4,179%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, natural cork exports dropped significantly to $X in 2021. In general, exports showed a abrupt slump. The pace of growth was the most pronounced in 2014 when exports increased by 1,566%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Brazil (X kg), distantly followed by the Dominican Republic (X kg), Colombia (X kg) and Panama (X kg) represented the major exporters of natural cork debacked or roughly squared, together mixing up 95% of total exports. Argentina (X kg) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Brazil (with a CAGR of +43.0%), while the other leaders experienced more modest paces of growth.

In value terms, the Dominican Republic ($X) emerged as the largest natural cork supplier in Latin America and the Caribbean, comprising 65% of total exports. The second position in the ranking was taken by Brazil ($X), with a 14% share of total exports. It was followed by Panama, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the Dominican Republic was relatively modest. In the other countries, the average annual rates were as follows: Brazil (+29.7% per year) and Panama (-18.7% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, reducing by -18.4% against the previous year. Overall, the export price, however, enjoyed a measured increase. The pace of growth was the most pronounced in 2019 when the export price increased by 336%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+6.1%), while the other leaders experienced a decline in the export price figures.

Natural Cork Imports

Imports in Latin America and the Caribbean

In 2021, after two years of decline, there was significant growth in overseas purchases of natural cork debacked or roughly squared, when their volume increased by 24% to X tons. Over the period under review, imports saw a measured increase. The growth pace was the most rapid in 2018 with an increase of 197% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, natural cork imports surged to $X in 2021. In general, imports, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2018 when imports increased by 66% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Panama was the main importer of natural cork debacked or roughly squared in Latin America and the Caribbean, with the volume of imports reaching X tons, which was near 48% of total imports in 2021. Colombia (X tons) held the second position in the ranking, distantly followed by Mexico (X tons) and Costa Rica (X tons). All these countries together held near 42% share of total imports. Brazil (X tons) and Turks and Caicos Islands (X tons) followed a long way behind the leaders.

Imports into Panama increased at an average annual rate of +15.2% from 2012 to 2021. At the same time, Costa Rica (+85.6%), Colombia (+20.3%), Turks and Caicos Islands (+3.2%) and Mexico (+2.0%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +85.6% from 2012-2021. By contrast, Brazil (-23.4%) illustrated a downward trend over the same period. While the share of Panama (+30 p.p.), Colombia (+17 p.p.) and Costa Rica (+6.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Mexico (-1.8 p.p.) and Brazil (-40.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest natural cork importing markets in Latin America and the Caribbean were Colombia ($X), Panama ($X) and Mexico ($X), together comprising 81% of total imports. Costa Rica, Brazil and Turks and Caicos Islands lagged somewhat behind, together comprising a further 12%.

In terms of the main importing countries, Costa Rica, with a CAGR of +79.1%, saw the highest rates of growth with regard to 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

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, waning by -4.2% against the previous year. In general, the import price showed a abrupt curtailment. The growth pace was the most rapid in 2017 an increase of 32% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Brazil ($X per ton), while Turks and Caicos Islands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+10.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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