The Latin America, Middle East and Africa Wine Cork Market would witness market growth of 4.7% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 373.6 hundred units, showcasing a growth of 8.6% (2023-2030).
The market represents a pivotal segment within the wine industry, serving as a gateway between winemakers and consumers, encapsulating tradition, quality, and innovation. With its rich history dating back centuries, cork closures have adorned wine bottles, sealing in the essence of craftsmanship and the promise of exceptional taste experiences. Cork closures have a long-standing tradition in the wine industry, dating back centuries to wine-producing regions such as Portugal, Spain, France, and Italy. This tradition imbues cork closures with prestige, authenticity, and craftsmanship that resonates with winemakers and consumers alike. The association of cork closures with premium wines and esteemed wine-making practices enhances their appeal and adoption within the industry.
Cork closures are the preferred choice for wines intended for aging and cellaring. The natural properties of cork, including its elasticity, porosity, and ability to facilitate controlled oxygen exchange, contribute to the gradual maturation and development of complex flavors in wines over time. Winemakers value cork closures for their ability to preserve wine quality, enhance aging potential, and maintain the integrity of the wine throughout its journey from cellar to glass.
The high household expenditure on wine in South Africa provides a growth environment for the market. As per Statistics South Africa, wine takes up 7,2% of total household expenditure on alcoholic and non-alcoholic beverages. Wine’s 7,2% can be further broken down into red (3,9%) and white (3,2%). As South African consumers continue to adopt wine as part of their lifestyle, the demand for cork closures is expected to remain strong, reflecting the evolving preferences and aspirations of wine enthusiasts in the country. In conclusion, the region’s high wine consumption and increasing expenditure on wine are propelling the market’s growth.
The Brazil market dominated the LAMEA 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 $174.5 Million by 2,030. The Argentina market is showcasing a CAGR of 7.6% during (2,023 - 2,030). Additionally, The UAE market would register a CAGR of 5.5% during (2,023 - 2,030).
Free Valuable Insights: The Worldwide Wine Cork Market is Projected to reach USD 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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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