Wine Corks Market to Reach $27.6 Bn, Globally, by 2027 at 7.4% CAGR: Allied Market Research

- Rise in number of product launches and R&D activities in the wine and wine accessories industry such as adoption of sensors in wine machinery drive the growth of the global wine corks market.

News provided by

Allied Market Research

Jan 25, 2021, 08:30 ET

PORTLAND, Ore., Jan. 25, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Wine Corks Market by Type (Natural and Synthetic) and Distribution Channel (Offline and Online): Global Opportunity Analysis and Industry Forecast 2021–2027." According to the report, the global wine corks industry generated $20.8 billion in 2019, and is estimated to reach $27.6 billion by 2027, witnessing a CAGR of 7.4% from 2021 to 2027.

Prime determinants of growth

Rise in number of product launches, R&D activities in the wine and wine accessories industry such as adoption of sensors in wine machinery, rise in social media usage, and surge in per-capita income drive the growth of the global wine corks market. Contrarily, considerable surge in number of millennials consuming wine and emergence of various types of new wine stoppers present new opportunities in the coming years.

Request Sample Report at : https://www.alliedmarketresearch.com/request-sample/9524

Covid-19 Scenario

Several business structures and strategies in the sales cycle of wine have been disrupted due to ban on import and export activities.
The sales have been focused on the hospitality and restaurant sector. Owing to close down of these sectors during the lockdown, the sale of wine decreased significantly.
There has been cancellation of local, national, and international events to avoid gathering of people and prevent the spread of coronavirus. Major wine events including Divinum Switzerland in which more than 300 winemakers showcase their products and maintain existing and developing new customers have been cancelled.

The natural segment to maintain its leadership position during the forecast period

Based on type, the natural segment accounted for nearly three-fourths of the global wine corks market in 2019, and is projected to maintain its leadership position during the forecast period. This is due to better options over synthetic type and preferred for aging wines for a long periods. However, the synthetic segment is expected to witness the highest CAGR of 9.4% from 2021 to 2027, owing to lower cost involved in manufacturing as compared to natural corks.

The offline segment to maintain its dominance in terms of revenue throughout the forecast period

Based on distribution channel, the offline segment accounted for the largest market share in 2019, holding nearly three-fourths of the global wine corks market, and is projected to maintain its dominance in terms of revenue throughout the forecast period. This is due to offline strategy being a primary strategy of businesses for B2B marketing scenario. However, the online segment is estimated to manifest the largest CAGR of 9.5% from 2021 to 2027, owing to rise in e-commerce sales, improvements in logistics services, ease in payment options, and the facility to enter new international markets.

North America to grow at the fastest rate

Based on region, North America is expected to portray the fastest CAGR of 9.8% during the forecast period. This is due to industrial development and increase in consumption that offers opportunity for market players to expand businesses. However, Europe contributed to the highest market share in 2019, holding nearly half of the global wine corks market, and is projected to continue its lead status by 2027. This is due to rise in consumption of wine that encourages winery growers to expand their manufacturing units.

For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/9524

Leading market players

Precisionelite
Waterloo Container Company
J. C. Ribeiro, S. A.
Amorim Cork, S.A, Ltd.
We Cork Inc.
Zandur
Jelinek Cork Group
Widgetco, Inc.
M.A. Silva Usa, Llc
Allstates Rubber & Tool Corp.

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

Baby Carriers Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

Toys Market: Global Opportunity Analysis and Industry Forecast, 2021-2027

Airless Packaging Market: Global Opportunity Analysis and Industry Forecast, 2017–2023

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting services to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research