NEW YORK, July 25, 2023 /PRNewswire/ -- The wine corks market is expected to grow by USD 3,006.6 million during the five-year forecast period, according to Technavio. As per the latest report, the market will progress at a CAGR of 5.5% during 2020-2027. The growing online wine retailing is a primary trend in the wine cork market. Due to the factors such as faster delivery services and competitive prices, there is an increase in demand for online retailing of wine globally. Additionally, there is an increase in the number of brands and wine producers that sell their products online since 2020. Several market players are adopting organic and inorganic growth strategies to enhance their delivery services. The main advantage of selling products online is that manufacturers are able to add videos and full descriptions to attract customers. Furthermore, it allows vendors to offer their products at competitive prices on online platforms as there is no involvement of middlemen. Hence, such factors are expected to drive the wine cork market growth during the forecast period. View new Sample Report within minutes!
The increasing demand for wine drives the market growth during the forecast period. There has been a significant rise find demand for wine across countries, especially in China. The increasing production, coupled with the export and import of wine, fuels the demand for wine corks and is expected to positively impact the market. Another significant factor that has contributed to the wine cork growth is the rising internet penetration and e-commerce platform. In China, manufacturers sell a wide variety of wines through both online and offline channels. Furthermore, several wineries have been launched across India over the past few years. Hence, such developments are expected to drive the wine cork market growth during the forecast period.
Significant Challenges -
Several campaigns against alcohol consumption hinder the wine cork market growth during the forecast period. In order to limit the increasing incidence of alcohol abuse and alcohol-related accidents, several regulatory and social organizations have launched campaigns against alcohol consumption. Many organizations are undertaking initiatives to educate and spread awareness regarding the harmful effects of alcoholic consumption. For example, in November 2021, The Pan-American Health Organization (PAHO) launched a new campaign, Live Better, Drink Less, to spread awareness about the harmful impacts of alcohol consumption. Furthermore, several government bodies across the world have enforced laws and regulations regarding the advertisement promoting alcoholic beverages. Hence, such enforcement of rules and regulations is negatively impacting the market, which in turn is expected to hinder the wine cork market growth during the forecast period.
Wine Corks Market 2023-2027: Vendor Analysis
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Advance Cork International, Allstates Rubber and Tool Corp., Corticeira Amorim S.G.P.S S.A., Portuguese Cork Association, BOUCHONS LECLERCQ ET FILS, DIAM BOUCHAGE SAS, JACORK, J C RIBEIRO, Jelinek Cork Group, Korkindustrie Trier GmbH and Co. KG, M A Silva USA, Nagpal Cork and Jointing, Precisionelite, Sugherificio Martinese and Figli srl, Vinocor, Vinventions LLC, Waterloo Container Co., We Cork Inc., WidgetCo Inc., and Zandur are some of the major market participants. Although the rising demand for wine will offer immense growth opportunities, campaigns against alcohol consumption will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Portuguese Cork Association: The company offers agglomerated wine cork stoppers which is designed to maintain the maturation of the wine.
Allstates Rubber and Tool Corp: The company offers rubber wine cork stopper which is designed to preserve and store wine for a long time.
Corticeira Amorim S.G.P.S S.A: The company offers ND tech wine cork which is designed to execute the sealing of bottles of alcoholic beverages such as wines, spirits, and cava in the form of stoppers.
Wine Corks Market 2023-2027: Scope
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Our wine cork market report covers the following areas:
What's New? -
Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
Global competitiveness and key competitor positions
Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!
Wine Corks Market 2023-2027: Segmentation
The Wine Corks Market is segmented as below:
The market share growth by the natural segment will be significant during the forecast period. The main source of natural wine cork is tree bark. This segment is the ideal closure for wine bottles and is widely used for red wines that is required to be aged for more than two years. These wine corks are classified into different grades based on the quality of the bark. Hence, the increasing demand for wine is expected to fuel the demand for natural wine corks. The wine cork market has tremendous potential and opportunities in the APAC region, which is expected to positively impact the market. Hence, such factors are expected to drive market growth during the forecast period.
To learn more about the impact of different segments on the market growth, Request a Sample PDF Report!
Wine Corks Market 2023-2027: Key Highlights
CAGR of the market during the forecast period 2023-2027
Detailed information on factors that will assist wine corks market growth during the next five years
Estimation of the wine corks market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the wine corks market
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of wine corks market vendors
Gain instant access to 17,000+ market research reports.
The wine and spirits market size is projected to increase by USD 195.96 billion and the market size is estimated to grow at a CAGR of 3.32% between 2022 and 2027. This wine and spirits market report extensively covers market segmentation by distribution channel (off-trade and on-trade), type (spirits and wine), and geography (Europe, APAC, North America, South America, and the Middle East and Africa). The increased demand for craft drinks is a driving trend in the wine and spirits market.
The premium spirit market size is projected to increase by USD 49.85 billion and the market size is estimated to grow at a CAGR of 6.32% between 2022 and 2027. This premium spirit market report extensively covers market segmentation by distribution channel (off-trade and on-trade), product (vodka, whisky, rum, brandy, and tequila and others), and geography (Europe, APAC, North America, South America, and Middle East and Africa). The growing demand for premium drinks by the millennial generation is driving market growth.
Wine Corks Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 5.5%
Market growth 2023-2027
USD 3,006.6 million
YoY growth 2022- 2023 (%)
Europe, North America, APAC, South America, and Middle East and Africa
Performing market contribution
Europe at 34%
US, China, France, Italy, and Germany
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Advance Cork International, Allstates Rubber and Tool Corp., Corticeira Amorim S.G.P.S S.A., Portuguese Cork Association, BOUCHONS LECLERCQ ET FILS, DIAM BOUCHAGE SAS, JACORK, J C RIBEIRO, Jelinek Cork Group, Korkindustrie Trier GmbH and Co. KG, M A Silva USA, Nagpal Cork and Jointing, Precisionelite, Sugherificio Martinese and Figli srl, Vinocor, Vinventions LLC, Waterloo Container Co., We Cork Inc., WidgetCo Inc., and Zandur
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table Of Contents :
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
4.1 global wine corks market 2023-2027 2017 - 2021
4.2 Type Segment Analysis 2017 - 2021
4.3 Distribution channel Segment Analysis 2017 - 2021
4.4 Geography Segment Analysis 2017 - 2021
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by Type
6.1 Market segments
6.2 Comparison by Type
6.3 Natural - Market size and forecast 2022-2027
6.4 Synthetic - Market size and forecast 2022-2027
6.5 Market opportunity by Type
7 Market Segmentation by Distribution Channel
7.1 Market segments
7.2 Comparison by Distribution Channel
7.3 Offline - Market size and forecast 2022-2027
7.4 Online - Market size and forecast 2022-2027
7.5 Market opportunity by Distribution Channel
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 Europe - Market size and forecast 2022-2027
9.4 North America - Market size and forecast 2022-2027
9.5 APAC - Market size and forecast 2022-2027
9.6 South America - Market size and forecast 2022-2027
9.7 Middle East and Africa - Market size and forecast 2022-2027
9.8 US - Market size and forecast 2022-2027
9.9 France - Market size and forecast 2022-2027
9.10 Italy - Market size and forecast 2022-2027
9.11 Germany - Market size and forecast 2022-2027
9.12 China - Market size and forecast 2022-2027
9.13 Market opportunity by geography
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends
11 Vendor Landscape
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks
12 Vendor Analysis
12.1 Vendors covered
12.2 Market positioning of vendors
12.3 Allstates Rubber and Tool Corp.
12.4 Corticeira Amorim S.G.P.S S.A.
12.5 Portuguese Cork Association
12.6 DIAM BOUCHAGE SAS
12.8 J C RIBEIRO
12.9 Jelinek Cork Group
12.10 Korkindustrie Trier GmbH and Co. KG
12.11 MA Silva USA
12.13 Sugherificio Martinese and Figli srl
12.14 Waterloo Container Co.
12.15 WE Cork Inc.
12.16 WidgetCo Inc.
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View original content to download multimedia:https://www.prnewswire.com/news-releases/wine-corks-market-analysis-outlooks-2022-market-size-of-the-historic-period2017-to-2021-market-size-of-the-forecast-period-2023-2027-groth-rate--technavio-301884122.html