Japan: Non-Cane Molasses Market 2024

Non-Cane Molasses Market Size in Japan

The Japanese non-cane molasses market shrank slightly to $X in 2022, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Non-Cane Molasses Production in Japan

In value terms, non-cane molasses production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by 24% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Non-Cane Molasses Exports

Exports from Japan

In 2022, overseas shipments of molasses (excluding cane molasses) increased by 365% to X tons, rising for the second consecutive year after two years of decline. Overall, exports posted noticeable growth. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, non-cane molasses exports soared to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Finland (X tons) was the main destination for non-cane molasses exports from Japan, with a 69% share of total exports. Moreover, non-cane molasses exports to Finland exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), threefold. Hong Kong SAR (X tons) ranked third in terms of total exports with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Finland amounted to +49.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+70.0% per year) and Hong Kong SAR (+44.4% per year).

In value terms, the largest markets for non-cane molasses exported from Japan were Finland ($X), Hong Kong SAR ($X) and Taiwan (Chinese) ($X), together accounting for 93% of total exports. South Korea lagged somewhat behind, accounting for a further 4%.

In terms of the main countries of destination, South Korea, with a CAGR of +60.0%, 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 non-cane molasses export price amounted to $X per ton, dropping by -12.1% against the previous year. Overall, the export price recorded a perceptible downturn. The growth pace was the most rapid in 2016 when the average export price increased by 37% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Hong Kong SAR ($X per ton), while the average price for exports to Finland ($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 Hong Kong SAR (+2.8%), while the prices for the other major destinations experienced a decline.

Non-Cane Molasses Imports

Imports into Japan

In 2022, purchases abroad of molasses (excluding cane molasses) decreased by 0% to X tons, falling for the second consecutive year after two years of growth. Overall, imports posted a strong increase. The most prominent rate of growth was recorded in 2015 when imports increased by 868% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, non-cane molasses imports amounted to $X in 2022. In general, imports saw a perceptible setback. The most prominent rate of growth was recorded in 2015 when imports increased by 808% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Australia (X tons) constituted the largest non-cane molasses supplier to Japan, accounting for a 55% share of total imports. Moreover, non-cane molasses imports from Australia exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was held by the Philippines (X kg), with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia stood at +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+30.3% per year) and the Philippines (-10.7% per year).

In value terms, the United States ($X) constituted the largest supplier of molasses (excluding cane molasses) to Japan, comprising 46% of total imports. The second position in the ranking was taken by Australia ($X), with a 12% share of total imports. It was followed by China, with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +19.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-4.7% per year) and China (+24.1% per year).

Import Prices by Country

The average non-cane molasses import price stood at $X per ton in 2022, almost unchanged from the previous year. Overall, the import price recorded a deep slump. The most prominent rate of growth was recorded in 2014 when the average import price increased by 20% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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