Vietnam: Natural Cork Market 2025

Natural Cork Market Size in Vietnam

In 2021, the Vietnamese natural cork market increased by 3.8% to $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption, however, saw a mild expansion. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Natural Cork Production in Vietnam

In value terms, natural cork production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, recorded a remarkable increase. The growth pace was the most rapid in 2017 with an increase of 60%. Natural cork production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Natural Cork Exports

Exports from Vietnam

In 2021, approx. X kg of natural cork debacked or roughly squared were exported from Vietnam; growing by 98% compared with the year before. In general, exports, however, continue to indicate a noticeable contraction. The growth pace was the most rapid in 2019 with an increase of 383% against the previous year. The exports peaked at X kg in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, natural cork exports totaled $X in 2021. Over the period under review, exports, however, showed a slight contraction. The pace of growth was the most pronounced in 2018 with an increase of 9.6% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X kg) was the main destination for natural cork exports from Vietnam, with a 99% share of total exports. It was followed by France (X kg), with a 1.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates totaled -1.2%.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for natural cork debacked or roughly squared exports from Vietnam, comprising 97% of total exports. The second position in the ranking was held by France ($X), with a 2.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates was relatively modest.

Export Prices by Country

In 2021, the average natural cork export price amounted to $X per ton, waning by -46.3% against the previous year. In general, the export price, however, enjoyed modest growth. The growth pace was the most rapid in 2017 an increase of 134%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to the United Arab Emirates totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+5.4%).

Natural Cork Imports

Imports into Vietnam

In 2021, approx. X tons of natural cork debacked or roughly squared were imported into Vietnam; which is down by -49.2% compared with 2020 figures. Over the period under review, imports faced a deep slump. The pace of growth appeared the most rapid in 2014 with an increase of 679%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, natural cork imports dropped sharply to $X in 2021. In general, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2014 with an increase of 713% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Portugal (X tons) constituted the largest supplier of natural cork to Vietnam, accounting for a 90% share of total imports. Moreover, natural cork imports from Portugal exceeded the figures recorded by the second-largest supplier, China (X kg), more than tenfold. The third position in this ranking was held by Taiwan (Chinese) (X kg), with a 1.2% share.

From 2012 to 2021, the average annual growth rate of volume from Portugal totaled +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-29.2% per year) and Taiwan (Chinese) (-17.6% per year).

In value terms, Portugal ($X) constituted the largest supplier of natural cork debacked or roughly squared to Vietnam, comprising 80% of total imports. The second position in the ranking was held by China ($X), with a 4.4% share of total imports. It was followed by Taiwan (Chinese), with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Portugal stood at +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-30.2% per year) and Taiwan (Chinese) (-12.6% per year).

Import Prices by Country

In 2021, the average natural cork import price amounted to $X per ton, with a decrease of -25.6% against the previous year. In general, the import price recorded a pronounced decline. The pace of growth appeared the most rapid in 2019 when the average import price increased by 48%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

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 the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+82.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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