The Asia Pacific Wine Cork Market would witness market growth of 5.9% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 525.5 hundred units, showcasing a growth of 5.7% (2019-2022).
Consumer perceptions and preferences play a pivotal role in driving the adoption of wine cork closures. Many consumers associate cork closures with quality, authenticity, and tradition, viewing them as a hallmark of premium and high-end wines. The ritualistic experience of uncorking a bottle sealed with a cork closure adds to wine consumption’s overall enjoyment and sensory appeal, reinforcing consumer expectations and demand for cork-sealed wines.
Cork closures hold cultural significance and symbolic value within wine-producing regions and societies worldwide. In countries such as Portugal and Spain, where cork oak forests are abundant, cork production is deeply intertwined with local culture, heritage, and identity. Harvesting cork bark from sustainably managed forests represents a centuries-old tradition rooted in environmental stewardship and rural livelihoods, further enhancing the appeal and adoption of cork closures among wine producers and consumers.
The increasing disposable income in India positively impacts the market by fueling demand for premium wines, fostering a culture of wine appreciation, and aligning with consumer preferences for quality, authenticity, and sustainability. Based on data from the Ministry of Statistics & Programme Implementation, the gross national disposable income (GNDI) for 2021–2022 was ₹236.07 lakh crore at current prices, compared to an estimate of ₹201.15 lakh crore for 2020–21. This represents a growth of 17.4% for 2021–2022 compared to a contraction of 1.6% for 2020–21. Therefore, the growing export of wine and increasing disposable income in the region propel the market’s growthT
The China market dominated the Asia Pacific Wine Cork Market, By Country in 2,022, and would continue to be a dominant market till 2,030; thereby, achieving a market value of $286 Million by 2,030. The Japan market is registering a CAGR of 5.2% during (2,023 - 2,030). Additionally, The India market would showcase a CAGR of 6.5% during (2,023 - 2,030).
Free Valuable Insights: The Global Wine Cork Market is Predict to reach $ 7.9 Billion by 2030, at a CAGR of 4.7%
Based on Distribution Channel, the market is segmented into Offline, and Online. Based on Type, the market is segmented into Natural, and Synthetic. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific.
By Distribution Channel (Volume, Hundred Units, USD Billion, 2019-2030)
By Type (Volume, Hundred Units, USD Billion, 2019-2030)
By Country (Volume, Hundred Units, USD Billion, 2019-2030)
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