Japan: Salt Market 2024

Salt Market Size in Japan

The Japanese salt market reduced slightly to $X in 2022, which is down by -1.8% against the previous year. Over the period under review, consumption saw a pronounced setback. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Salt Production in Japan

In value terms, salt production fell to $X in 2022 estimated in export price. Overall, production showed a slight decline. The pace of growth appeared the most rapid in 2017 when the production volume increased by 16% against the previous year. Salt production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Salt Exports

Exports from Japan

In 2022, approx. X tons of salt and pure sodium chloride were exported from Japan; picking up by 23% against the year before. Over the period under review, total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.0% 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 +62.9% against 2017 indices. The growth pace was the most rapid in 2015 with an increase of 44% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, salt exports dropped to $X in 2022. In general, total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 +14.4% against 2020 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 30%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Singapore (X tons) was the main destination for salt exports from Japan, with a 38% share of total exports. Moreover, salt exports to Singapore exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), threefold. The third position in this ranking was held by China (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Singapore stood at +8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+18.4% per year) and China (-1.9% per year).

In value terms, the largest markets for salt exported from Japan were Macao SAR ($X), China ($X) and Hong Kong SAR ($X), with a combined 45% share of total exports.

Macao SAR, with a CAGR of +125.1%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination 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 salt export price amounted to $X per ton, dropping by -22.6% against the previous year. Overall, the export price showed a mild slump. The most prominent rate of growth was recorded in 2017 when the average export price increased by 36% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 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 Macao SAR ($X per ton), while the average price for exports to Singapore ($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 Macao SAR (+15.6%), while the prices for the other major destinations experienced more modest paces of growth.

Salt Imports

Imports into Japan

Salt imports into Japan reduced remarkably to X tons in 2022, dropping by -15.3% compared with the previous year's figure. In general, imports showed a slight contraction. The pace of growth was the most pronounced in 2019 when imports increased by 18%. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, salt imports expanded modestly to $X in 2022. Overall, imports continue to indicate a noticeable downturn. The pace of growth was the most pronounced in 2019 when imports increased by 15% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Australia (X tons), Mexico (X tons) and China (X tons) were the main suppliers of salt imports to Japan, together accounting for 98% of total imports.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +2.9%), while purchases for the other leaders experienced a decline.

In value terms, Australia ($X), Mexico ($X) and China ($X) were the largest salt suppliers to Japan, with a combined 94% share of total imports.

In terms of the main suppliers, Australia, with a CAGR of +2.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average salt import price stood at $X per ton in 2022, growing by 23% against the previous year. Overall, the import price, however, showed a slight contraction. The import price peaked at $X per ton in 2012; however, from 2013 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 ($X per ton), while the price for Mexico ($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 (+2.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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