What a corker! Wines with cork closures double the value of screwcaps
Wines sealed with natural cork closures have risen twice as fast as those with screwcaps in the last four years, new research finds.
A recent report commissioned by The Portuguese Cork Association (APCOR) on data reported by Nielsen analysed the top 1,500 wine SKUs in the UK. The research found that natural cork sealed wines are continuing to rise in price compared to those closed with a screwcap.
The price of wines with cork closures retail on average at £3.04 more than their counterparts. The research shows a value increase of 29% for natural cork sealed wines versus a value increase of 10% for wines closed with screwcaps over the last four years.
Wines sealed with natural cork grew in price from an average of £7.05 in 2017 to £9.13 in 2021. In contrast, the average price for bottles with screwcaps is £6.09, up from £5.53 in 2017.
João Rui Ferreira, Vice President of Portuguese Cork Association (APCOR), said: ‘It’s really interesting to see consumers trading up, not just in terms of wine value sales but it seems that there is an inherent interest in opting for cork sealed wines particularly amongst millennials.
“As a 100% renewable, 100% natural and 100% recyclable product, used wine corks have seen a second life in space craft, presidential gifts (including a collar for Barack Obama’s dog), high fashion – and much more besides.
“Natural cork oak forests also boast some of Europe’s greatest biodiversity and sustainable agriculture, retaining up to 14 million tonnes of CO2 a year. It’s wonderful to see UK consumers voting with the cash in their pocket as sales hit an all time high.”
White wines with cork closures are seeing the biggest increase in price compared with screwcaps. White wines sealed with natural cork have seen an increase in price per bottle of 36% on 2017 compared to white wines closed with a screwcap which saw an increase of 13% on 2017.
The difference in red wines is an increase of 26% for bottles using natural cork compared with the 13% price increase for alternative closures.
New world wines sealed with natural cork have seen an uplift in value of 105% since 2020 making up 19% of all bottles sealed with a natural cork. Argentina is driving this trend making up 40% of the new world wines under cork, followed by Australia with 24% and South Africa with 16%. Old world wines with natural cork are the driving force with 81% market share.