Japan: Animal Feed Market 2024

Animal Feed Market Size in Japan

The Japanese animal feed market reduced modestly to $X in 2022, declining by -3% against the previous year. Overall, consumption, however, posted strong growth. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Animal Feed Production in Japan

In value terms, animal feed production declined slightly to $X in 2022 estimated in export price. In general, production, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of 54%. Animal feed production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Animal Feed Exports

Exports from Japan

In 2022, shipments abroad of animal and pet feed increased by 13% to X tons, rising for the fourth consecutive year after three years of decline. The total export volume increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when exports increased by 28%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, animal feed exports totaled $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by 18% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for animal feed exports from Japan, with a 43% share of total exports. Moreover, animal feed exports to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), twofold. The third position in this ranking was taken by South Korea (X tons), with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+3.7% per year) and South Korea (-2.4% per year).

In value terms, China ($X) remains the key foreign market for animal and pet feed exports from Japan, comprising 36% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 9.9% share of total exports. It was followed by the United States, with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled +10.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+2.6% per year) and the United States (-11.4% per year).

Export Prices by Country

The average animal feed export price stood at $X per ton in 2022, declining by -10.4% against the previous year. Over the period under review, the export price recorded a pronounced slump. The most prominent rate of growth was recorded in 2016 an increase of 9.4% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Animal Feed Imports

Imports into Japan

Animal feed imports into Japan shrank to X tons in 2022, approximately equating the year before. Overall, imports continue to indicate a slight curtailment. The growth pace was the most rapid in 2017 when imports increased by 31% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, animal feed imports rose notably to $X in 2022. The total import value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when imports increased by 9.5%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

The United States (X tons), France (X tons) and Australia (X tons) were the main suppliers of animal feed imports to Japan, with a combined 47% share of total imports. Thailand, Serbia, Germany, China, the Netherlands, the Czech Republic, Ireland, Canada, New Zealand and Chile lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Serbia (with a CAGR of +72.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), France ($X) and Australia ($X) were the largest animal feed suppliers to Japan, together accounting for 56% of total imports. China, the Czech Republic, Thailand, the Netherlands, New Zealand, Germany, Serbia, Ireland, Canada and Chile lagged somewhat behind, together accounting for a further 33%.

Among the main suppliers, Serbia, with a CAGR of +75.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average animal feed import price amounted to $X per ton, picking up by 7.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The pace of growth was the most pronounced in 2018 an increase of 16% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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