Japan: Chocolate Market 2024

Chocolate Market Size in Japan

The Japanese chocolate market totaled $X in 2022, picking up by 3% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Chocolate consumption peaked in 2022 and is expected to retain growth in years to come.

Chocolate Production in Japan

In value terms, chocolate production amounted to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 16% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Chocolate Exports

Exports from Japan

In 2022, shipments abroad of chocolate and cocoa products increased by 14% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +45.4% against 2020 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 39%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, chocolate exports reduced to $X in 2022. In general, total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +26.3% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 29% against the previous year. As a result, the exports attained the peak of $X, and then dropped modestly in the following year.

Exports by Country

China (X tons), Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons) were the main destinations of chocolate exports from Japan, with a combined 57% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +34.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for chocolate exported from Japan were China ($X), Hong Kong SAR ($X) and the United States ($X), together comprising 58% of total exports.

Among the main countries of destination, China, with a CAGR of +30.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average chocolate export price amounted to $X per ton, which is down by -14.5% against the previous year. Over the period under review, the export price continues to indicate a pronounced slump. The pace of growth appeared the most rapid in 2016 an increase of 9%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Thailand ($X per ton) and Singapore ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (-1.1%), while the prices for the other major destinations experienced a decline.

Chocolate Imports

Imports into Japan

In 2022, purchases abroad of chocolate and cocoa products increased by 7.3% to X tons, rising for the second year in a row after two years of decline. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 7.7% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, chocolate imports expanded remarkably to $X in 2022. The total import value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 16% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

Singapore (X tons), South Korea (X tons) and Malaysia (X tons) were the main suppliers of chocolate imports to Japan, with a combined 60% share of total imports. Thailand, Australia, Belgium, Italy, France, the United States and China lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +11.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Belgium ($X) and Italy ($X) appeared to be the largest chocolate suppliers to Japan, with a combined 46% share of total imports.

In terms of the main suppliers, Italy, with a CAGR of +12.1%, recorded 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

The average chocolate import price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 14%. Over the period under review, average import prices reached the peak figure 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 France ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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