Cork Stopper Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Natural Cork Stoppers, Champagne/Sparkling Wine Cork Stoppers, Bartop Cork Stoppers, Multi-piece Cork Stoppers, Others), By Application (Wines, Spirits, Fragrances, Oils, Others), And By Geography - Forecasts From 2023 To 2028

Market Overview:

The Cork stopper market is a very competitive sector. For several years, new solutions, such as screwcaps, have been entering the market. However, the cork stopper has maintained its global market leadership. Cork stoppers are pieces of cork, rubber, or other similar material used as bottle stoppers. Cork stoppers are regulated because of physical and chemical qualities that may impair their performance as wine closures. Cork stoppers are used to ensure product quality and efficiency. Increased global demand for wine and premium spirits, as well as enhanced advanced production techniques, are major drivers driving market demand for cork stoppers.

Growth factors:

Wine being the largest consumers

The consumption of wine in the US has increased from 971 million total wine gallons in 2019 to 1.1 billion total wine gallons in 2021 (Source: wineinstitute.org). The wine business is the largest consumer of corks. The appropriate size and kind of wine cork to be installed on the bottle are determined by the type of wine to be stored in the bottle. Manufacturers are expected to maintain solid client relationships by launching innovative product designs of corks for a variety of wine bottles. Wine corks are the most noticeable and profitable of the various cork-derived items. In the country of Portugal. They represent around 25% of total weight production and 72% of cork revenue (Source: www.corkqc.com). Upward investment by important players to develop new items is projected to enhance industry sales even further.

Innovation in the market

Product innovation improved cork stopper quality, and increased understanding of the interaction between the cork stopper and wine has been at the forefront of the cork stopper market. There is only one obvious goal: to gain a better grasp of cork's qualities and formulations to improve its performance and efficiency in sealing bottles. For instance, In February 2021, Amorim Cork America in Napa introduced Naturity and Xpür technologies to remove detectable 2,4,6-trichloroanisole, a mold component generally referred to as TCA and a leading cause of "cork taint." The new technologies are employed on natural corks as well as to develop a new segment of micro-agglomerated stoppers. Naturity improves non-detectable TCA performance in the natural cork product sector while expanding the operational deliverables of NDTech, the sophisticated screening service that analyses and removes any natural cork with more than 0.5 nanograms per liter of TCA.

Natural cork stopper segment to have a substantial growth

Most modern materials are synthetic and difficult to recycle, let alone compostable or biodegradable. Natural cork, on the other hand, is biodegradable, compostable, and recyclable. Natural cork is manufactured from the bark of the cork oak (Quercus suber), a type of evergreen oak tree native to Portugal. Because it is genuinely constructed of tree bark, it biodegrades completely and can be recycled without leaving hazardous residues. Natural corks have been employed in the business for ages due to their cellular elasticity. Because there are microscopically small pores inside the cork structure, natural corks are only slightly airtight and not completely sealed. Depending on the type of wine preserved, this trait might be advantageous or detrimental. These elements are expected to drive this segment's growth in the next years.

Key Developments:

• July 2022: Cork Supply, a Portuguese company, announced the acquisition of French Bouchons Abel and Portuguese Legnokaps for €8 million to strengthen its presence in the wine and spirits sector. Cork Supply has made a strategic business decision by expanding its presence in the French still and sparkling wine/champagne sectors while also improving its foothold in other important European countries.
• May 2022: Estal has introduced Corkcoal. It's a stopper made of cork and activated charcoal, which decreases industrial processes and carbon footprint while increasing organoleptic advantages. This unique stopper is a promising new addition to the beverage industry.
• April 2022: Labrenta, an Italian closures maker, has purchased Anacorks, a Portuguese company that specializes in the fabrication of cork stoppers for spirits. The move represents Labrenta's international supply chain expansion strategy. The brand now includes production facilities in Brazil, Mexico, and Italy, as well as a commercial facility in the United States.

Covid-19 Impact on the Cork Stopper Market

Due to the worldwide lockdown imposed as a result of the COVID-19 outbreak, a large number of wine and spirits manufacturers saw a reduction in market sales and revenue. Less market demand owing to store closures and a lack of resources had reduced the market output of wines and other beverages. This had impeded production and, in turn, impacted market demand for cork stoppers. The total expansion of the cork material market is anticipated to be restrained, nevertheless, by consumers' lack of understanding of additional applications for the material. However, when the prevalence of covid 19 decreases with the opening of the lockdown, there will be an increase in product distribution, which will eventually lead to market growth.

Cork Stopper Market Scope:

Segmentation:

• By type
  • Natural Cork Stoppers
  • Champagne/Sparkling Wine Cork Stoppers
  • Bartop Cork Stoppers
  • Multi-piece Cork Stoppers
  • Others
• By application
  • Wines
  • Spirits
  • Fragrances
  • Oils
  • Others 
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Thailand
    • Indonesia
    • Others