Corkscrew Market: Rising Consumption of Wine Likely to Drive its Demand in the Global Market

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Corkscrew – Introduction

  • Growing popularity of sealed bottles with cork in the 17th century resulted in evolution of corkscrews
  • Besides, the uptrend in luxury wines and various techniques associated with them such as their storage, bottle opening, and preservation has fueled innovation in corkscrews
  • From the basic T shaped corkscrew to the sommeliers knife and electric corkscrew, these have become an essential kitchen tool
  • Additionally, the improving lifestyle and rising adoption of wine craft is likely to drive demand for corkscrews in the global market

Rising Consumption of Wine Likely to Drive its Demand in the Global Market

  • Consumption of wine was earlier limited to western regions; however, owing to rising globalization, various countries across the globe have begun manufacturing wine.
  • The popular trend of wine consumption has thus resulted in adoption of tools such as corkscrew openers
  • Also, these trends have been widely adopted by sommeliers across luxury restaurants and dine-outs. A similar trend is anticipated to gradually take over the upper middle and middle range restaurants and hotels.
  • These trends are likely to drive the market for corkscrew openers

Declining Use of Corks Might Challenge the Market

  • The ratio of corked bottles to capped bottles is significantly low, and is anticipated to remain low.
  • This lesser usage of containers/bottles with corks is predominantly influenced by the cost in terms of maintenance of corked bottles, which can adversely impact the demand for corkscrews.
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Increase in Luxury Wine Experience Restaurants to Create Demand Opportunities

  • Significant traction of luxury wine restaurants and similar places offering exclusive wine experiences are likely to offer growth opportunity, particularly for tools specifically designed for sommeliers
  • Increasing tourism and business travel has resulted in intense cultural exchanges; thus, the hospitality industry is taking keen interest in training sommeliers with wine opening techniques and tools.
  • Such trends are likely to drive opportunities for the global corkscrew market

Europe to Hold Leading Share of the Global Corkscrew Market

  • In terms of geography, the global corkscrew market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America
  • Country and sub-region level analysis of North America features the U.S., Canada, and Rest of North America. Analysis and forecast of the corkscrew market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the market analysis and forecast of GCC, South Africa, and Rest of Middle East & Africa. The corkscrew market in South America is segmented into Brazil and Rest of South America.
  • Europe dominated the global corkscrew market in 2018, attributed to the widespread trend of having corked wine bottles. In addition, a rising wine consuming population in North America as well as Asian provinces are driving the corkscrew market in the respective regions.

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