Latin America and the Caribbean: Natural Cork Market 2024

Natural Cork Market Size in Latin America and the Caribbean

The Latin American natural cork market contracted slightly to $X in 2022, declining by X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Natural Cork Production in Latin America and the Caribbean

In value terms, natural cork production declined slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a slight slump. The growth pace was the most rapid in 2017 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Natural Cork Exports

Exports in Latin America and the Caribbean

In 2022, natural cork exports in Latin America and the Caribbean declined sharply to X kg, with a decrease of X% compared with 2021. In general, exports faced a abrupt curtailment. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, natural cork exports shrank significantly to $X in 2022. Over the period under review, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2014 with an increase of X%. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

El Salvador represented the key exporting country with an export of about X kg, which recorded X% of total exports. Mexico (X kg) ranks second in terms of the total exports with an X% share, followed by Panama (X%), Chile (X%), Guatemala (X%), Colombia (X%) and Barbados (X%).

From 2012 to 2022, the biggest increases were recorded for El Salvador (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest natural cork supplying countries in Latin America and the Caribbean were El Salvador ($X), Chile ($X) and Mexico ($X), with a combined X% share of total exports.

Among the main exporting countries, El Salvador, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, falling by X% against the previous year. In general, the export price showed a abrupt downturn. The most prominent rate of growth was recorded in 2016 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Chile ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (X%), while the other leaders experienced mixed trends in the export price figures.

Natural Cork Imports

Imports in Latin America and the Caribbean

In 2022, the amount of natural cork debacked or roughly squared imported in Latin America and the Caribbean contracted significantly to X tons, reducing by X% on 2021. Overall, imports continue to indicate a noticeable setback. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, natural cork imports contracted remarkably to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Colombia (X tons) represented the key importer of natural cork debacked or roughly squared, committing X% of total imports. Costa Rica (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Brazil (X%), El Salvador (X%) and Venezuela (X%). Turks and Caicos Islands (X tons) and Jamaica (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to natural cork imports into Colombia stood at X%. At the same time, Costa Rica (X%), Jamaica (X%), El Salvador (X%) and Turks and Caicos Islands (X%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Venezuela (X%) and Brazil (X%) illustrated a downward trend over the same period. While the share of Colombia (X p.p.), Costa Rica (X p.p.), El Salvador (X p.p.) and Turks and Caicos Islands (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Brazil (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Colombia ($X) constitutes the largest market for imported natural cork debacked or roughly squared in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Costa Rica ($X), with a X% share of total imports. It was followed by Brazil, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Colombia stood at X%. In the other countries, the average annual rates were as follows: Costa Rica (X% per year) and Brazil (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, growing by X% against the previous year. Import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, natural cork import price increased by X% against 2018 indices. Over the period under review, import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Turks and Caicos Islands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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