Japan: Processed Meat Market 2024

Processed Meat Market Size in Japan

The Japanese processed meat market reached $X in 2022, increasing by X% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the market value increased by X% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Processed Meat Production in Japan

In value terms, processed meat production expanded to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a slight curtailment. The growth pace was the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Processed Meat Exports

Exports from Japan

In 2022, overseas shipments of processed meat decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, saw resilient growth. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then shrank significantly in the following year.

In value terms, processed meat exports reduced to $X in 2022. Overall, exports, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2020 when exports increased by X%. The exports peaked at $X in 2021, and then contracted in the following year.

Exports by Country

Hong Kong SAR (X tons) was the main destination for processed meat exports from Japan, accounting for a X% share of total exports. Moreover, processed meat exports to Hong Kong SAR exceeded the volume sent to the second major destination, the United States (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Hong Kong SAR totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and the Philippines (X% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for processed meat exports from Japan, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and the Philippines (X% per year).

Export Prices by Country

In 2022, the average processed meat export price amounted to $X per ton, rising by X% against the previous year. In general, the export price posted noticeable growth. The most prominent rate of growth was recorded in 2019 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to the United States ($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 (X%), while the prices for the other major destinations experienced a decline.

Processed Meat Imports

Imports into Japan

In 2022, purchases abroad of processed meat increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, processed meat imports expanded sharply to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Thailand (X tons), China (X tons) and the United States (X tons) were the main suppliers of processed meat imports to Japan, with a combined X% share of total imports. Denmark and Canada lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Thailand ($X), China ($X) and the United States ($X) constituted the largest processed meat suppliers to Japan, with a combined X% share of total imports. Denmark and Canada lagged somewhat behind, together accounting for a further X%.

Denmark, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average processed meat import price stood at $X per ton in 2022, stabilizing at the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Thailand ($X per ton) and China ($X per ton), while the price for Denmark ($X per ton) and Canada ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform