Japan: Sesame Oil Market 2024

Sesame Oil Market Size in Japan

In 2021, the Japanese sesame oil market decreased by -8.3% to $X for the first time since 2015, thus ending a five-year rising trend. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, consumption attained the peak level of $X, and then fell in the following year.

Sesame Oil Production in Japan

In value terms, sesame oil production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 14%. As a result, production reached the peak level of $X, and then fell in the following year.

Sesame Oil Exports

Exports from Japan

Sesame oil exports from Japan surged to X tons in 2021, rising by 18% compared with 2020 figures. Overall, total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when exports increased by 18%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, sesame oil exports expanded notably to $X in 2021. Over the period under review, total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +90.5% against 2012 indices. The pace of growth appeared the most rapid in 2016 with an increase of 15% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for sesame oil exports from Japan, accounting for a 66% share of total exports. Moreover, sesame oil exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), sixfold. The third position in this ranking was held by Hong Kong SAR (X tons), with an 8% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+8.9% per year) and Hong Kong SAR (+8.9% per year).

In value terms, the United States ($X) remains the key foreign market for sesame oil exports from Japan, comprising 68% of total exports. The second position in the ranking was held by Canada ($X), with a 12% share of total exports. It was followed by Hong Kong SAR, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+10.2% per year) and Hong Kong SAR (+6.4% per year).

Export Prices by Country

The average sesame oil export price stood at $X per ton in 2021, waning by -2.7% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 12%. As a result, the export price attained the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.

Sesame Oil Imports

Imports into Japan

In 2021, purchases abroad of sesame oil decreased by -6% to X tons, falling for the fourth year in a row after three years of growth. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 25% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, sesame oil imports shrank slightly to $X in 2021. The total import value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 when imports increased by 24%. Over the period under review, imports reached the peak figure at $X in 2020, and then declined slightly in the following year.

Imports by Country

Vietnam (X tons), Mexico (X tons) and China (X tons) were the main suppliers of sesame oil imports to Japan, together comprising 92% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +4.6%), while imports for the other leaders experienced a decline.

In value terms, Vietnam ($X), Mexico ($X) and China ($X) were the largest sesame oil suppliers to Japan, with a combined 89% share of total imports.

Mexico, with a CAGR of +6.4%, saw the highest growth rate of 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

In 2021, the average sesame oil import price amounted to $X per ton, rising by 3.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. The pace of growth was the most pronounced in 2019 when the average import price increased by 18%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :