Cork Stoppers Market Size to Grow at a CAGR of 5 8% During the Forecast Period 2021–2026 briefingwire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from briefingwire.com Daily Mail and Mail on Sunday newspapers.
Cork Stoppers Market Segment Analysis – By Application
Wine accounted for the largest cork stoppers market share in 2020 owing to the increasing demand for wine across the globe and is projected to grow at a CAGR of 4.8% during the forecast period 2021-2026 owing to its health benefit along with innovation in flavour, improved production and more advanced distribution networks. These crucial factors are predicted to drive the demand for cork stoppers for wine application.
While the premium spirits producers and the cooking oil manufacturers are anticipated to generate significant growth as well as investment opportunities for cork stoppers industry throughout the globe. The rising income, which has led to higher expenditure along with the increasing customer inclination towards consumption of toasted, premium aged and sparkling wines is further anticipated to capitalize the cork sale of stoppers for premium spirits application during the forecast period 2021-2026.