The wine cork market may gain considerable growth through the forecast period of 2020-2030 on the back of the benefits that wine corks provide in terms of wine preservation. Wine is spoilt quickly when exposed to air. Therefore, these corks are used to seal the wine bottles perfectly to avoid any loss to the taste and the quality of the wine. This aspect brings extensive growth prospects for the wine cork market.
With the advent of modern technology, wine corks are being developed from a variety of materials such as wood, glass, aluminum, plastic, and others. Based on technology, the global wine cork market can be classified into extrusion molding, injection molding, and a combination of extrusion and injection process.
This report on the wine cork market provides information to the stakeholder through the R.O.C.K (Regional Prospects. Overview. Competitive Dimensions. Key Trends) mechanism. This mechanism covers all the major prospects that are growth-worthy for the wine cork market and helps the stakeholder to gain rock-solid insights.
The information included in this report has been designed after a scrutinized analysis on a variety of factors by an expert team of researchers. The report also offers insights into the COVID-19 impact on the wine cork market and the prominent threats that the wine cork market may face between 2020 and 2030.
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The wine cork market comprises numerous players that compete with each other for garnering good revenues. Manufacturers in the wine cork market invest in the research and development activities for exploring novel insights that are beneficial for increasing the growth prospects. The players in the wine cork market also pay attention to expand their manufacturing facilities for adhering smoothly to the rising wine corks demand.
The players also try to develop wine corks that not only help in preserving the wine but are also cost-effective. Plastic corks are also being pegged as a better option than natural corks due to enhanced hygiene and easy manufacturing capabilities. Therefore, the players in the wine cork market are concentrating more on developing plastic corks.
Some well-established players in the wine cork market are Precision Elite Limited Company, Wine Enthusiast Companies, Waterloo Container Company, Elkem Silicones Limited., Jelinek Cork Group, Widgetco, Inc., Allstates Rubber Inc. & Tool Corp.
The wine cork market is undergoing a green revolution as a plethora of players in the wine cork market are developing recyclable wine corks. This trend of recyclable corks is gaining momentum across the wine cork market. For instance, Burlington Drinks, a UK-based independent drinks company introduced a drinks range that comprises recycled corks made from 95 percent recycled sugarcane.
Cork recycling services are also being launched in various parts of the globe to facilitate seamless cork recycling. The launch of a recycling service for corks called RecycleBox by a UK recycling company, First Mile is a classic instance. Such developments highlight the increasing influence of recyclable corks.
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The wine cork market can be geographically segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America is slated to gain good growth through the assessment period due to the rising popularity of wine among a substantial chunk of the populace. A considerable presence of wine cork production units in the region further adds extra stars of growth.
Asia Pacific may also gain rapid growth during the forecast period as the trend of wine continues to grow greatly across various countries in the region. Urbanization has also invited immense growth for the wine cork market.
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