Portugal: Natural Cork Market 2025

Natural Cork Market Size in Portugal

In 2021, the Portuguese natural cork market decreased by -12.5% to $X, falling for the third consecutive year after three years of growth. Over the period under review, consumption, however, recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 5.3% against the previous year. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Natural Cork Production in Portugal

In value terms, natural cork production plummeted to $X in 2021 estimated in export price. Overall, production recorded a abrupt contraction. The pace of growth appeared the most rapid in 2017 with an increase of 7.4%. Natural cork production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Natural Cork Exports

Exports from Portugal

In 2021, approx. X tons of natural cork debacked or roughly squared were exported from Portugal; with a decrease of -43.3% against the previous year. In general, exports recorded a precipitous curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by 34%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, natural cork exports shrank sharply to $X in 2021. Overall, exports faced a precipitous setback. The growth pace was the most rapid in 2018 with an increase of 33% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons), China (X tons) and India (X tons) were the main destinations of natural cork exports from Portugal, with a combined 68% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +110.4%), while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) remains the key foreign market for natural cork debacked or roughly squared exports from Portugal, comprising 43% of total exports. The second position in the ranking was held by China ($X), with a 21% share of total exports. It was followed by Japan, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value to Spain totaled -20.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-27.1% per year) and Japan (+13.1% per year).

Export Prices by Country

The average natural cork export price stood at $X per ton in 2021, growing by 6.1% against the previous year. In general, the export price, however, showed a perceptible slump. The pace of growth was the most pronounced in 2019 when the average export price increased by 21%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat 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 Italy ($X per ton), while the average price for exports to India ($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 India (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Natural Cork Imports

Imports into Portugal

In 2021, overseas purchases of natural cork debacked or roughly squared were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, continue to indicate a slight reduction. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, natural cork imports rose remarkably to $X in 2021. In general, imports, however, saw a noticeable slump. The most prominent rate of growth was recorded in 2018 with an increase of 33%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of natural cork to Portugal, with a 82% share of total imports. Moreover, natural cork imports from Spain exceeded the figures recorded by the second-largest supplier, Morocco (X tons), ninefold. The third position in this ranking was held by Sweden (X tons), with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain stood at -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Morocco (+37.2% per year) and Sweden (0.0% per year).

In value terms, Spain ($X) constituted the largest supplier of natural cork debacked or roughly squared to Portugal, comprising 92% of total imports. The second position in the ranking was held by Morocco ($X), with a 4.1% share of total imports. It was followed by Sweden, with a 1.6% share.

From 2012 to 2021, the average annual growth rate of value from Spain totaled -3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Morocco (+21.3% per year) and Sweden (0.0% per year).

Import Prices by Country

In 2021, the average natural cork import price amounted to $X per ton, reducing by -41.3% against the previous year. Overall, the import price showed a pronounced contraction. The most prominent rate of growth was recorded in 2013 an increase of 24% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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 Spain ($X per ton), while the price for Sweden ($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 (-0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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