Business Services News

Business Services News

Breaking News on Business Services

Home > Business Services Search Engine                                 

Business Services News -- Video Feeds
  • Advertising
  • Careers
  • Corporate news
  • Economy
  • Markets
  • Small Business
  • Personal Finance
  • Regulatory and Compliance
  • Business News

    Wine Corks Market Size to Grow at a CAGR of 5.7% During the Forecast Period 2021-2026
     



    (I-BusinessNews.Com, May 05, 2021 ) The Wine Corks Market size was estimated at $16.80 billion in 2020 and is projected to grow at a CAGR of 5.7% during the forecast period 2021-2026. Wine Corks are highly efficient bottle closures that have been used since ancient times. The Wine Corks fulfill the requirements for a bottle sealant and usually used to plug still wine and sparkling thereby avoiding any leakage. The natural wine crock have mechanical properties that allow them to be placed and compressed against the neck thereby properly sealing the bottle to prevent the seepage of air inside however, the tiny pores allow minute amount of oxygen to interact with the liquid inside this transforms the aroma and flavor of the liquid over time. Moreover these corks are chemically and physically stable for a long time and can maintain their property at different condition. Hence these factors are predicted to drive the Wine Corks Market during the forecast period.



    Wine Cork Market Segment Analysis - By Product



    By Product, the Natural Cork segment accounted for the largest market share and is projected to grow at a CAGR of 5.4% during the forecast period 2021-2026 owing to the ease of availability and characteristics that is possess as a result it the most appropriate material for the conservation of still wine and premium spirits over the years. The micro pores in the cork allow for equally micro oxidation of the wine thereby improving the aging process. However the synthetic crock stopper that are made of are made of plastics is predicted to grow at the fastest CAGR since these corks are not prone to TCA taint. Moreover, these corks provide predictable oxygen transfer rates along with a tight seal and since they're not made from wood, synthetic corks don't deteriorate or dry out results thereby boosting the Wine Corks Market.



    Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=19250

    Report Price: $ 4500 (Single User License)



    Wine Cork Market Segment Analysis - By Distribution Channel



    Traditional Offline Retail accounted for the largest market share in 2020 owing to the more advanced distribution networks. The traditional offline retail segment accounted for over half of the global wine cork market and is project to maintain its dominance in the coming years. However due to growing cases of Covid-19 and various restriction imposed by the government organization around the world the online segment is projected to witness the fastest CAGR of 19.5% from 2021 to 2027 for the Wine Corks Market.



    Wine Cork Market Segment Analysis - By Geography



    Based on geography, Europe dominated the Wine Corks Market with a region share of 52.2% in 2020 attributed mainly since majority of wine is consumed and produced in the region. Also, most of the cork forest are located Portugal and Spain thereby propelling the growth in this region. According to the world’s top export document Portugal and Spain accounted for whopping 79.8%. However, Asia Pacific is set to be the fastest growing region during the forecast period 2021-2026 owing to the high population and increasing demand for wine. Countries like China and Australia which are already established aged wine market are predicted to be the prospective markets for Wine Corks.



    Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=19250



    Wine Corks Market Drivers



    Increasing Demand for Wines with Wine Corks



    The wine cork is made from bark, which makes it a renewable resource and it can be formed in the shape of a wine bottle, making it an incredibly appealing way to seal wine. Consumers often prefer to buy Wine particularly the Still Wine and the Sparkling wine with Wine Corks as the cork allows optimum control of oxygen transfer through the closure. The elastic property of the cork is determined by its moisture content. The cork remains fairly elastic for insertion into the bottle within moisture content. Also, the cork stopper has peculiar qualities, which interact beneficially with wine. Moreover, the cork stopper has unique capacities such as impermeability and resistance, which allows managing micro-oxygenation and ensures a successful maturation and aging of the wine, while preserving its essence. Thus, the demand for Wines with Wine Corks is increasing which acts as a driver for the market during the forecast period 2020-2025.



    Wine Corks Market Challenges



    High Cost of the Product



    High cost associated with the product serves as a major setback for the growth of the Wine Cork market during the forecast period 2020-2025. Natural cork accounted for the major market share, depending upon the type, quality, and brand the corks can up to 3 times when compare to the screw caps. Moreover, Wine Cork made out of wood are at the right risk of drying out that could deteriorate the taste and the fragrance of the product inside.



    Covid-19 Impact



    Due to the Covid-19 outbreak, the Wine Cork material end-use industries are facing issues such as delays in receiving cork material from the manufacturers due to the restriction on import and export of commodities. In addition, there are delays in receiving raw material, which is further resulting in delayed shipments to the customer. Also, the shipment orders are being heavily affected due to the non-availability of vessels and blank sailing, which is further leading to decreased storage stock of wineries. The COVID-19 pandemic is also having a huge impact on the wine industry. The production of wine has been disruptively stopped, contributing to a major loss in the industry. With the decrease in the production of wine, the demand for Wine Corks has significantly fallen, thereby acting as a major restrain to the market.



    Wine Corks Market Landscape



    Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Wine Corks Market. Key companies of this market are Jelinek Cork Group, Wine Enthusiast Companies, Widgetco, Inc., Amorim Cork Composites S.A., Bangor Cork Inc., Keval Import Export Private Limited, Waterloo Container Company, M.A. Silva USA, LLC, Helix Packaging, Precision Elite limited company, Elkem Silicones limited, Allstates Rubber Inc. and Tool Corporation.



    Developments



    In January 2021, Amorim, the world's leading producer of cork products, announced the launch of Naturity and Xpür, technologies designed to remove detectable TCA from natural corks and to create a new segment of micro-agglomerated stoppers, respectively.



    Key Takeaways



    Geographically, Europe region held 52.2% of the total market share in 2020 since most the cork forest are located Portugal and Spain.



    The online distribution segment is anticipated to accelerate at fastest growth rate in the wine corks market, with a CAGR of 19.5% during the forecast period 2021-2026.



    The mechanical properties that allows minute amount of air to interact with the liquid inside thereby transforming the aroma and flavor of the liquid over time is a major driving force for the Wine Corks Market during the forecast period 2021-2026.



    Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the Wine Corks Market will be provided in the report.



    Related Reports :



    A. Cork Stoppers Market



    https://www.industryarc.com/Report/19248/cork-stoppers-market.html



    B. Alcohol Ingredients Market



    https://www.industryarc.com/Research/Alcohol-Ingredients-Market-Research-504444



    For more Food and Beverage Market reports, please click here



    About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.

    IndustryARC

    Venkat Reddy

    (+1) 970-236-3677

    venkat@industryarc.com

    Source: EmailWire.Com

    Source: EmailWire.com

    Business News Feeds
  • Business News - Top Stories
  • Company Earnings
  • Economy
  • Personal Finance
  • Real Estate
  • Stock Markets
  • Business Services Sponsors

    Business Services Ads

    Business Resource Center
    We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines, white papers, webinars, podcasts, and more. Get popular titles including:

    CIO Insight
    Managed Healthcare Executive
    Mortgage Technology

    No credit cards, coupons, or promo codes required. Try it today!

    Press release service

    :: Home: :: Submit Press Release :: Subscribe to News :: Contact Us :: Help

    For unlimited press release distribution for $59 per month, call (281) 645-4086 or start posting your press releases online at EmailWire.com.

    Copyright 2008 GroupWeb Media LLC
    GroupWeb Media Network

    Aviation-NewsWire | ArtNewsWire | Auction NewsWire | CRM NewsWire | ePhotoNewsWire | Energy Industry | EstateNewsWire | Entertainment-NewsWire.com | Food Beverage News | Glamour NewsWire | Health NewsWire | Hosting NewsWire | i-Auto NewsWire | i-Business News | i-Homeland Security.Com | iMac-NewsWire.Com | i-Press-Release-Service | i-SoftwareNews.com | iT-NewsWire.Com
    | i-TravelNewsWire.Com | MoneyNewsWire.Net | Movie-Stars-News.Com | MSNewsWire.Net | PharmaNewsWire.Com | Publishing-NewsWire.Com | RSSNewsWire.Net | Telecom-NewsWire.Net | Transportation-News.Com | USGovernment-News.Com | WebPosters.Net | Wireless-NewsWire.Com | VoIPNewsWire.Net | XSportsWorld.Net
    I-BusinessNews.Com is a business news service of GroupWeb Media LLC