Lithuania: Natural Cork Stopper Market 2024

Natural Cork Stopper Market Size in Lithuania

The Lithuanian natural cork stopper market declined to $X in 2022, reducing by -12.3% against the previous year. In general, consumption recorded a noticeable shrinkage. Natural cork stopper consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Natural Cork Stopper Production in Lithuania

In value terms, natural cork stopper production dropped to $X in 2022 estimated in export price. In general, production saw a perceptible downturn. The most prominent rate of growth was recorded in 2021 when the production volume increased by 38% against the previous year. Natural cork stopper production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Natural Cork Stopper Exports

Exports from Lithuania

In 2022, overseas shipments of corks and stoppers of natural cork increased by 67% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2016 when exports increased by 14,854%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, natural cork stopper exports skyrocketed to $X in 2022. In general, exports posted a buoyant expansion. The pace of growth was the most pronounced in 2016 when exports increased by 7,204% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Belarus (X tons), Russia (X tons) and Kazakhstan (X kg) were the main destinations of natural cork stopper exports from Lithuania, together comprising 100% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belarus (with a CAGR of +99.0%), while the other leaders experienced mixed trend patterns.

In value terms, Belarus ($X) emerged as the key foreign market for corks and stoppers of natural cork exports from Lithuania, comprising 74% of total exports. The second position in the ranking was held by Russia ($X), with a 26% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Belarus stood at +91.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-0.9% per year) and Kazakhstan (+60.2% per year).

Export Prices by Country

The average natural cork stopper export price stood at $X per ton in 2022, reducing by -12.7% against the previous year. In general, the export price, however, recorded buoyant growth. The growth pace was the most rapid in 2019 an increase of 160%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+27.2%), while the prices for the other major destinations experienced mixed trend patterns.

Natural Cork Stopper Imports

Imports into Lithuania

In 2022, supplies from abroad of corks and stoppers of natural cork decreased by -24.1% to X kg, falling for the fifth year in a row after two years of growth. In general, imports, however, saw pronounced growth. The most prominent rate of growth was recorded in 2014 when imports increased by 1,128%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, natural cork stopper imports declined markedly to $X in 2022. Overall, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 820%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Sweden (X kg), China (X kg) and Poland (X kg) were the main suppliers of natural cork stopper imports to Lithuania, together accounting for 78% of total imports. The Netherlands, Belgium, Germany and Spain lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +33.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) constituted the largest supplier of corks and stoppers of natural cork to Lithuania, comprising 62% of total imports. The second position in the ranking was taken by Poland ($X), with a 21% share of total imports. It was followed by China, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value from Sweden amounted to +33.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+20.9% per year) and China (+21.7% per year).

Import Prices by Country

In 2022, the average natural cork stopper import price amounted to $X per ton, reducing by -47.1% against the previous year. Overall, the import price, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2021 an increase of 182%. As a result, import price attained the peak level of $X per ton, and then fell markedly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+39.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform