MENA: Natural Cork Stopper Market 2024

Natural Cork Stopper Market Size in MENA

The MENA's natural cork stopper market shrank slightly to $X in 2022, which is down by -4.3% against the previous year. The market value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Natural Cork Stopper Production in MENA

In value terms, natural cork stopper production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when the production volume increased by 15% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Natural Cork Stopper Exports

Exports in MENA

In 2022, approx. X tons of corks and stoppers of natural cork were exported in MENA; picking up by 26% compared with 2021 figures. The total export volume increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The volume of export peaked at X tons in 2014; afterwards, it flattened through to 2022.

In value terms, natural cork stopper exports surged to $X in 2022. Total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +39.5% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 40% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Morocco (X tons) was the main exporter of corks and stoppers of natural cork, creating 62% of total exports. Algeria (X tons) took the second position in the ranking, distantly followed by Tunisia (X tons). All these countries together took approx. 35% share of total exports. Turkey (X tons) followed a long way behind the leaders.

Morocco experienced a relatively flat trend pattern with regard to volume of exports of corks and stoppers of natural cork. At the same time, Turkey (+16.5%), Tunisia (+8.7%) and Algeria (+1.8%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in MENA, with a CAGR of +16.5% from 2012-2022. Tunisia (+6.9 p.p.) and Turkey (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while Morocco saw its share reduced by -9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Morocco ($X) remains the largest natural cork stopper supplier in MENA, comprising 62% of total exports. The second position in the ranking was held by Tunisia ($X), with a 19% share of total exports. It was followed by Algeria, with a 17% share.

In Morocco, natural cork stopper exports expanded at an average annual rate of +6.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Tunisia (+9.6% per year) and Algeria (+2.8% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, declining by -7.6% against the previous year. Export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, natural cork stopper export price decreased by -16.1% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the export price increased by 25%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+9.8%), while the other leaders experienced more modest paces of growth.

Natural Cork Stopper Imports

Imports in MENA

Natural cork stopper imports skyrocketed to X tons in 2022, picking up by 30% against the previous year. The total import volume increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, natural cork stopper imports expanded notably to $X in 2022. Over the period under review, imports, however, saw a mild setback. The growth pace was the most rapid in 2018 when imports increased by 14% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Israel (X tons), Qatar (X tons), Turkey (X tons), Algeria (X tons), Morocco (X tons) and Lebanon (X tons) was the main importer of corks and stoppers of natural cork in MENA, committing 92% of total import. Saudi Arabia (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Morocco (with a CAGR of +66.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X), Turkey ($X) and Lebanon ($X) were the countries with the highest levels of imports in 2022, with a combined 73% share of total imports. Qatar, Algeria, Morocco and Saudi Arabia lagged somewhat behind, together accounting for a further 23%.

Morocco, with a CAGR of +69.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, dropping by -16.4% against the previous year. In general, the import price recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2020 when the import price increased by 11%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Lebanon ($X per ton), while Algeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+11.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform