South Africa: Natural Cork Stopper Market 2024

Natural Cork Stopper Market Size in South Africa

In 2022, the South African natural cork stopper market increased by 0.1% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption, however, recorded a deep setback. Natural cork stopper consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Natural Cork Stopper Production in South Africa

In value terms, natural cork stopper production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt contraction. The most prominent rate of growth was recorded in 2017 with an increase of 12%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Natural Cork Stopper Exports

Exports from South Africa

In 2022, shipments abroad of corks and stoppers of natural cork decreased by -54% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports faced a abrupt contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 300% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, natural cork stopper exports reduced sharply to $X in 2022. In general, exports continue to indicate a sharp curtailment. The pace of growth was the most pronounced in 2014 with an increase of 785%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Mauritius (X tons) was the main destination for natural cork stopper exports from South Africa, with a 69% share of total exports. Moreover, natural cork stopper exports to Mauritius exceeded the volume sent to the second major destination, Namibia (X kg), sevenfold. Zimbabwe (X kg) ranked third in terms of total exports with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Mauritius amounted to -7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Namibia (+13.7% per year) and Zimbabwe (+22.4% per year).

In value terms, Mauritius ($X) emerged as the key foreign market for corks and stoppers of natural cork exports from South Africa, comprising 71% of total exports. The second position in the ranking was held by Namibia ($X), with a 10% share of total exports. It was followed by the United States, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Mauritius stood at +2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Namibia (+12.8% per year) and the United States (+59.0% per year).

Export Prices by Country

The average natural cork stopper export price stood at $X per ton in 2022, which is down by -68.9% against the previous year. Over the period under review, the export price recorded a deep setback. The pace of growth appeared the most rapid in 2017 when the average export price increased by 196%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Lesotho ($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 Angola (+65.7%), while the prices for the other major destinations experienced more modest paces of growth.

Natural Cork Stopper Imports

Imports into South Africa

In 2022, overseas purchases of corks and stoppers of natural cork increased by 21% to X tons, rising for the second year in a row after three years of decline. Overall, imports, however, continue to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2021 with an increase of 26% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, natural cork stopper imports reduced to $X in 2022. Over the period under review, imports, however, showed a perceptible downturn. The pace of growth was the most pronounced in 2021 when imports increased by 39% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Portugal (X tons) was the main natural cork stopper supplier to South Africa, accounting for a 96% share of total imports. It was followed by Australia (X tons), with a 1.7% share of total imports. The third position in this ranking was held by Italy (X tons), with a 0.7% share.

From 2012 to 2022, the average annual growth rate of volume from Portugal totaled -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+9,119.5% per year) and Italy (-19.8% per year).

In value terms, Portugal ($X) constituted the largest supplier of corks and stoppers of natural cork to South Africa, comprising 95% of total imports. The second position in the ranking was taken by Spain ($X), with a 2.3% share of total imports. It was followed by Australia, with a 0.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Portugal amounted to -2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-18.4% per year) and Australia (+20,110.6% per year).

Import Prices by Country

In 2022, the average natural cork stopper import price amounted to $X per ton, dropping by -26.9% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 30%. The import price peaked at $X per ton in 2021, and then declined markedly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+119.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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