Wine Cork Market

Wine Cork Market Outlook from 2024 to 2034

The global sales of wine cork is estimated to be worth USD 201.3 million in 2024 and anticipated to reach a value of USD 260.2 million by 2034. Sales are projected to rise at a CAGR of 2.6% over the forecast period between 2024 and 2034. The revenue generated by wine cork in 2023 was USD 195.5 million. The industry is anticipated to exhibit a Y-o-Y growth of 2.4% in 2024.

Natural wine cork encompasses the majority of shares in the wine cork market in terms of volume. It is poised to dominate the market with more than 67.9% of the market share, expanding at 2.2% CAGR through the forecast period.

Natural corks offer superior oxygen permeability allowing small oxygen molecules to interact with the wine. This controlled oxidation is crucial for the wines to age and to develop complex flavors contributing to the production of high-quality wines.

Global Wine Cork Industry Assessment

Attributes	Key Insights
Historical Size, 2023	USD 195.5 million
Estimated Size, 2024	USD 201.3 million
Projected Size, 2034	USD 260.2 million
Value-based CAGR (2024 to 2034)	2.6%

The wine cork made from wood is predicted to gain a market valuation of USD 75.5 million by 2024 with an incremental expansion of 1.3x times the total market value. The cellular structure of cork offers excellent seals preventing leakages and maintains the integrity and quality of the wine. Further wood recyclability and reusability used for manufacturing wood corks contribute to the circular economy and minimize waste.

The red wines are anticipated to reach USD 114.5 million by 2034 and are poised to gain an incremental gain worth USD 30.9 million. Growing awareness about health benefits including cardiovascular through the consumption of red wine with meals due to antioxidants like resveratrol, appeal to health-conscious consumers.

Europe’s wine cork industry is set to experience upward growth during the forecast period. It is projected to gain a market share of 41.2% and is predicted to grow at a CAGR of 2.3% during the assessment period. The growing consumption of wine coupled with changing consumer preferences in Europe drives the market for wine and this rise in consumption is poised to boost sales of wine cork market.

Semi-Annual Market Update

The below table presents the expected CAGR for the global wine cork market over several semi-annual periods spanning from 2024 to 2034. In the first half (H1) of the year from 2023 to 2033, the business is predicted to surge at a CAGR of 2.5%, followed by a slightly higher growth rate of 2.7% in the second half (H2) of the same year.

Particular	Value CAGR
H1	2.5% (2023 to 2033)
H2	2.7% (2023 to 2033)
H1	2.4% (2024 to 2034)
H2	2.8% (2024 to 2034)

Moving into the subsequent period, from H1 2024 to H2 2034, the CAGR is projected to decrease slightly to 2.4% in the first half and rise to 2.8% in the second half. In the first half (H1) the market witnessed a decrease of 10 BPS while in the second half (H2), the market witnessed an increase of 10 BPS.

Key Industry Highlights

Sustainability in Wine Cork to Drive the Market

The focus on sustainability drives the market for wine cork with both the consumer and producer prioritizing eco-friendly practices in production as well as in purchase. Natural cork harvested from oak trees offers a renewable option for the producers supporting the biodiversity playing a crucial role in decarburization, enhancing overall environmental value.

This sustainable harvesting process of cork coupled with its recyclable nature appeals to eco-conscious consumers preferring products with lesser impacts on the environment. With the increasing emphasis on sustainable practices by the wineries, the demand for natural cork is likely to grow.

For instance, Amorim Cork, implemented several strategies to enhance sustainability in their production further investing in renewable energy and promoting responsible forest management through the Forest Stewardship Council (FSC) certification program.

In addition to this, in April 2024, Amorim Florestal partnered with Caixa Geral de Depósitos (CGD, Portugal’s largest bank) and launched the first ESG operation in the cork sector which helps cork suppliers to benefit from reduced interest rates of loans based on their ESG rating for sustainable business.

Tourism Driving the Wine Industry is Poised to Drive the Market of Wine Cork

The wine industry is sufficient for driving the market economy. As wine consumption is so fascinating to the tourist that visits different types of places such as vineyards. Specifically, there are wine tourist that visits the different vineyards and consumes the wines as there are different types of wine tasting rooms and wine bottles.

Different types of wine-tasting tours attract tourists to visit different places for tasting. The Wine tourist gathers information regarding the quality of wine and the aroma and various processing parameters used for wine fermentation.

This automatically drives the wine industry as well as the wine sealing product that is wine cork. The rate of visiting the different vineyards and consumption of wine is simultaneously creating the market opportunity for the wine cork market.

Wine corks are used for sealing and packing wine bottles with different types of corks with different materials. Natural cork has the best properties as compared to synthetic cork. The wine cork market is growing due to the growing wine industry.

As consumers and manufacturers are focusing on naturally obtained material that can be recycled or that will have no impact on the environment when it is discarded after use. Overall, the rising demand for tourism is driving the sale of wine and simultaneously driving the wine cork market across the globe.

Rise in Alternative Wine Closure Method to Pose Challenges for the Market

The development of new alternative wine closure methods such as synthetic corks, screw caps, and glass stoppers gained popularity due to certain advantages such as consistent sealing performance, low production cost, and use of these alternate corks also reduces the risk of taints.

For instance, screw caps offer a secured and airtight seal that avoids the oxidation process ensuring the wine remains fresh for an extended period. These caps may be beneficial for the white wine and the wines that are to be consumed shortly. In addition to this screw cork offers uniform performance and eliminates variability in quality that might occur in natural cork.

2019 to 2023 Global Wine Cork Sales Outlook Compared to Demand Forecast from 2024 to 2034

The global wine cork industry recorded a CAGR of 1.8% during the historical period between 2019 and 2023. The growth of the wine cork industry was positive as it reached a value of USD 195.5 million in 2023 from USD 178.6 million in 2019.

The wine cork is a stopper used for sealing wine bottles preventing leakages ensuring the wine quality and flavor are unchanged. The wine cork can transfer oxygen through the closures causing oxidation with the inner wine benefitting to forming complex flavors.

Further, an increase in the production and consumption of wine is observed globally coupled with the growing awareness about health benefits including cardiovascular and the changing consumer preference for wine over other beverages such as beer and other non-alcoholic beverages to boost consumption. This rise in consumption is poise to boost sales for the wine cork market.

Additionally, many materials such as plastic, metal, glass, and wood are preferred to produce corks. The rising demand from consumers for eco-friendly and sustainable packaging forced manufacturers to shift towards materials such as recyclable plastics, biodegradable and reusable materials to meet this demand for sustainability.

However, the market faced various challenges by the growing alternate methods such as synthetic corks, screw caps, and others. These alternatives offer consistent quality and reduces the risk of cork taint. Despite these challenges, natural cork remained the preferred option of consumers for ongoing tradition and sustainability purposes.

Technological advancements in the closure method and innovations in the production of cork that include the method for reducing the cork taint, and improving the quality of the cork continue to drive the market for wine cork. Further fluctuations in the prices of the cork and the availability may impact both the consumers and the producers in the wine cork industry.

Market Concentration

Tier 1 companies comprise market leaders with a market revenue of above USD 10 million capturing significant market share of 30% to 35% in global market. These market leaders are characterized by high production capacity and a wide product portfolio.

These market leaders are distinguished by their extensive expertise in manufacturing and reconditioning across multiple packaging formats and a broad geographical reach, underpinned by a robust consumer base.

They provide a wide range of series including reconditioning, recycling, and manufacturing utilizing the latest technology and meeting the regulatory standards providing the highest quality. Prominent companies within Tier 1 include Amorim Cork, M. A. Silva, and DIAM Bouchage SAS.

Tier 2 companies include mid-size players with revenue of USD 5 to 10 million having presence in specific regions and highly influencing the local market. These are characterized by a strong presence overseas and strong market knowledge. These market players have good technology and ensure regulatory compliance but may not have advanced technology and wide global reach.

Prominent companies in Tier 2 include JELINEK CORK GROUP, WidgetCo, Bangor Cork, Sugherificio Martinese & Figli Srl, J. C. RIBEIRO, Korkindustrie GmbH & Co. KG, and Advance Cork International.

Tier 3 includes the majority of small-scale companies operating at the local presence and serving niche markets having revenue below USD 5 million. These companies are notably oriented towards fulfilling local market demands and are consequently classified within the tier 3 share segment.

They are small-scale players and have limited geographical reach. Tier 3, within this context, is recognized as an unorganized market, denoting a sector characterized by a lack of extensive structure and formalization when compared to organized competitors.

Country-wise Insights

The section below covers the industry analysis of the wine cork market for different countries. Market demand analysis on key countries in several regions of the globe, including North America, Asia Pacific, Europe, and others, is provided. The United States is anticipated to remain at the forefront in North America, with a CAGR of 1.5% through 2034. In Asia Pacific, India is projected to witness a CAGR of 5.9% by 2034.

Countries	Value CAGR (2024 to 2034)
USA	1.5%
Germany	1.4%
Australia	2.2%
Spain	2.7%
India	5.9%
China	5.0%
Thailand	4.1%

Increasing Wine Consumption in the USA to Drive Sales for the Wine Cork Market

According to the data published by Alcohol.org the United States consumes 4.3 billion bottles of wine annually. In addition to this Wine Institute estimated that wine consumption in the United States in 2022 per resident was 2.86 gals and 964 million total wine gallons.

This growth in the consumption of wine in the USA is driven by the changing consumer preference for wine over other drinks such as beer and spirits. The rising wine culture coupled with wine-tasting events and wine tourism in regions like Napa Valley boosted demand for wine bottles and thus surged the demand for wine corks.

Further, educating the benefits of drinking wine with meals lowers risks of type 2 diabetes to fuel the consumption of wine and this rise in consumption is poised to drive the market for wine corks.

An increase in the Exports of Wine to Thailand is Poised to Drive the Market for Wine Cork in Australia

According to the Department of Agriculture, Fisheries and Forestry, Australia exported a record high value of wine reaching USD 41.51 million in 2022 to 2023 which resembles to 31% increase in exports as compared to 2021 to 2022. This increase in exports is driven by the changing consumer preference in Thailand for Australian wine over China.

The Thailand-Australia Free Trade Agreement (TAFTA) gave Australian suppliers a trade advantage over EU and USA suppliers. Further Thailand eliminated the tariffs on Australian wine under the plurilateral ASEAN-Australia-New Zealand Free Trade Agreement to boost wine trade.

This increase in demand for wine results in higher production which increases the requirement for bottles and closures. Due to the superior sealing properties and ability to enhance wine ageing natural corks are favored for preserving the quality of wines during long transportation. Additionally, consumer’s preference for premium packaging boosts demand for natural corks.

Category-wise Insights

The section contains information about the leading segments in the industry. By wine type, the red wine segment is estimated to grow at a CAGR of 2.9% throughout 2034. Additionally, the natural cork industry is projected to expand at 2.2% by 2034.

Natural Wine Corks Dominate the Wine Cork Market in terms of Value

Cork Type	Natural
Value Share (2034)	76.6%

The natural wine cork segment dominates the market in terms of revenue, accounting for almost 67.9% of the market share in 2024. Natural wine corks in comparison to other synthetic corks use 75% less non-renewable energy and produce 25 times less greenhouse gases and half the solid waste.

Natural cork is renewable and biodegradable contributing to less pollution and aligns with the growing demand from consumers for eco-friendly and sustainable packaging. Further advancement in cork production helps reduce cork taint (TCA contamination) boosting consumer confidence in natural corks.

Wine Corks Made of Wood are Mostly Utilized

Material	Wood
Value Share (2034)	43.9%

Wine cork made of wood is forecast to account for a revenue of over USD 75.5 million in the wine cork market by 2024 end. It is also poised to expand at a CAGR of 3.0% across the forecast period. Wooden corks specially made from oak trees offer optimal oxygen permeability allowing wine to age gracefully by slow and controlled oxidation.

The manufacturers prefer wood wine corks over synthetic corks as the use of wooden corks enhances the quality of the wine and the sealing properties of wood due to their unique cellular structure are able to prevent leakages. Additionally, wooden corks are biodegradable, recyclable, and align with the company's sustainability goals.

Competitive Landscape

Key players operating in the wine cork market are investing in advanced technologies and facilities and also entering into partnerships. Key wine cork providers have also been acquiring smaller players to grow their presence to further penetrate the wine cork market across multiple regions.

Recent Industry Developments in the Wine Cork Market

• In September 2023, Diam Bouchage company, expanded their range of bartop closures for the spirits market with their newly eco-designed concept called ‘Setop Element’.
• In February 2023, Vinventions launched a new product Nomacorc Ocean made using ocean-bound plastic (OBC), the first wine closure that helps protect oceans.

Key Players of the Wine Cork Industry

• JELINEK CORK GROUP
• WidgetCo
• Bangor Cork
• Sugherificio Martinese & Figli Srl
• M. A. Silva
• DIAM BOUCHAGE SAS
• Amorim Cork America
• J. C. RIBEIRO
• Korkindustrie GmbH & Co. KG
• Advance Cork International
• Vinventions
• PORTOCORK AMERICA
• Lafitte

Key Segments of the Wine Cork Industry

By Cork Type:

In terms of cork type, the industry is divided into natural, and synthetic.

By Material:

In terms of material, the industry is segregated into plastic, wood, rubber, silicone, glass, and metal.

By Wine Type:

The industry is classified by wine type as red wine, white wine, sparkling wine, and others (rose wine, dessert wine, etc.).

By Region:

Key countries of North America, Latin America, East Asia, South Asia & Pacific, Western Europe, Eastern Europe, and the Middle East & Africa have been covered in the report.

Frequently Asked Questions

What is the future of the global wine cork industry?

The global wine cork industry is projected to witness a CAGR of 2.6% between 2024 and 2034.

What was the worth of the global wine cork industry in 2023?

The global wine cork industry stood at USD 195.5 million in 2023.

What will the worth of the global wine cork industry by 2034 end?

The global wine cork industry is anticipated to reach USD 260.2 million by 2034 end.

Which region to showcase the highest CAGR during the forecast period?

Europe is set to record the highest CAGR of 2.3% in the assessment period.

Who are the key manufacturer of the global wine cork industry?

The key players operating in the global wine cork industry include Amorim Cork, M. A. Silva, and DIAM Bouchage SAS.