Singapore: Natural Cork Stopper Market 2025

Natural Cork Stopper Market Size in Singapore

The Singaporean natural cork stopper market fell slightly to $X in 2022, reducing by -1.8% against the previous year. Overall, consumption showed a pronounced decrease. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Natural Cork Stopper Production in Singapore

In value terms, natural cork stopper production fell modestly to $X in 2022 estimated in export price. Over the period under review, production saw a pronounced reduction. The pace of growth was the most pronounced in 2014 when the production volume increased by 62% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Natural Cork Stopper Exports

Exports from Singapore

Natural cork stopper exports from Singapore shrank notably to X kg in 2022, dropping by -81.8% on 2021 figures. Overall, exports saw a precipitous shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 621%. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, natural cork stopper exports contracted markedly to $X in 2022. Over the period under review, exports saw a dramatic setback. The pace of growth appeared the most rapid in 2020 when exports increased by 604%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam (X kg), India (X kg) and Brunei Darussalam (X kg) were the main destinations of natural cork stopper exports from Singapore, together accounting for 95% of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +93.3%), while shipments for the other leaders experienced a decline.

In value terms, Vietnam ($X), India ($X) and Brunei Darussalam ($X) constituted the largest markets for natural cork stopper exported from Singapore worldwide, with a combined 99% share of total exports.

In terms of the main countries of destination, India, with a CAGR of +167.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average natural cork stopper export price amounted to $X per ton, growing by 86% against the previous year. In general, the export price posted a pronounced expansion. The growth pace was the most rapid in 2020 when the average export price increased by 704% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices stood 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 Vietnam ($X per ton), while the average price for exports to Hong Kong SAR ($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 India (+38.4%), while the prices for the other major destinations experienced more modest paces of growth.

Natural Cork Stopper Imports

Imports into Singapore

In 2022, the amount of corks and stoppers of natural cork imported into Singapore reduced to X tons, declining by -11.6% compared with the previous year's figure. In general, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 136% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, natural cork stopper imports soared to $X in 2022. Over the period under review, imports saw a abrupt downturn. The pace of growth appeared the most rapid in 2021 with an increase of 89% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of natural cork stopper to Singapore, accounting for a 77% share of total imports. Moreover, natural cork stopper imports from China exceeded the figures recorded by the second-largest supplier, the United States (X kg), sixfold. Malaysia (X kg) ranked third in terms of total imports with a 2.9% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+24.0% per year) and Malaysia (+11.3% per year).

In value terms, the United States ($X), China ($X) and Germany ($X) were the largest natural cork stopper suppliers to Singapore, together accounting for 87% of total imports. Japan, Malaysia and Portugal lagged somewhat behind, together comprising a further 7.6%.

Japan, with a CAGR of +49.2%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 2022, the average natural cork stopper import price amounted to $X per ton, surging by 31% against the previous year. Overall, the import price, however, saw a noticeable curtailment. The most prominent rate of growth was recorded in 2017 an increase of 152% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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