Asia Pacific Cork Stopper Market Overview
Asia Pacific Cork Stopper Market is expected to exhibit significant growth in the future, owing to rise in demand for different types of wines. In addition, the region has witnessed a considerable surge in the number of millennials, who are forefront consumers of new food & beverages products. Therefore, rise in millennial population is anticipated to offer remunerative opportunities for the growth of the Cork Stopper Market hence acting as a major growth driver in this region during the forecast period. However, it is practically concluded that the cork of the bottle has been infected with a bacterium called Trichloro anisole which essentially robs the wine of its aromas and make it taste flat creating a major setback to the Cork Stopper Market. Moreover, countries like China, Japan and South Korea are known for their traditional drinks which creates a competition for the corked bottles and factors like smell and high-cost act as restraints to the industry. A large number of wines and spirits manufacturers are facing a decline in sales and revenue in the market, due to the worldwide lockdown imposed because of the COVID-19 outbreak. Less demand from the market due to the closure of store's lack of resources has decreased the production of wines and other beverages in the market.
According to 6Wresearch, Asia Pacific Cork Stopper Market will be the most lucrative market during 2021-2027. Asia Pacific is the second largest market for wine cork consumption in volume terms, driven primarily by China, Japan and South Korea. Growing demand for wine corks in Asia Pacific is attributable to increasing urban affluence and the prevalence of wine in business culture. Jangsu Makkeoli is the leading brand in Asia Pacific for cork stoppers. Some key players that currently operate in the region are Advance Cork International., Stanimirov Cork Industry Ltd., CorkLink Group., CP Lab Safety., Barnacork S.L., Jelinek Cork Group., Bangor Cork., Widgetco, INC., and many more.
The Cork Stopper Market in Asia Pacific report thoroughly covers the market by product type, distribution channels, and countries including China, Japan and South Korea and the Rest of the countries. Asia Pacific Cork Stopper Market outlook report provides an unbiased and detailed analysis of the on-going Asia Pacific Cork Stopper Market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Key Highlights of the Report:
- Asia Pacific Cork Stopper Market Outlook
- Asia Pacific Cork Stopper Price Trends
- Asia Pacific Cork Stopper Porter's Five Forces
- Asia Pacific Cork Stopper Industry Life Cycle
- Asia Pacific Cork Stopper Market Trend Evolution
- Asia Pacific Cork Stopper Market Drivers and Challenges
- Asia Pacific Cork Stopper Market - Key Performance Indicators
- Asia Pacific Cork Stopper Market - Import Export Trade Statistics
- Asia Pacific Cork Stopper Market - Top Companies Market Share
- Asia Pacific Cork Stopper Market - Top Companies Profiles
- Asia Pacific Cork Stopper Market - Strategic Recommendations
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Asia Pacific Cork Stopper Market
