Japan: Sugar Market 2022

Sugar Market Size in Japan

The Japanese sugar market rose remarkably to $X in 2021, increasing by 9.8% against the previous year. The market value increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Sugar Production in Japan

In value terms, sugar production expanded markedly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 16%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

The average yield of sugar in Japan amounted to less than X kg per ha in 2021, leveling off at the previous year's figure. Overall, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The sugar harvested area in Japan totaled less than X ha in 2021, therefore, remained relatively stable against 2020. Over the period under review, the harvested area saw a relatively flat trend pattern.

Sugar Exports

Exports from Japan

In 2021, shipments abroad of sugar decreased by -5.5% to X tons for the first time since 2017, thus ending a three-year rising trend. In general, total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +5.3% 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 +60.5% against 2014 indices. The pace of growth was the most pronounced in 2020 with an increase of 20%. As a result, the exports reached the peak of X tons, and then contracted in the following year.

In value terms, sugar exports reduced to $X in 2021. Over the period under review, total exports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% 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 +82.1% against 2014 indices. The pace of growth appeared the most rapid in 2020 with an increase of 18%. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

Taiwan (Chinese) (X tons), Hong Kong SAR (X tons) and China (X tons) were the main destinations of sugar exports from Japan, together comprising 83% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +30.8%), while the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), Hong Kong SAR ($X) and China ($X) appeared to be the largest markets for sugar exported from Japan worldwide, with a combined 67% share of total exports.

In terms of the main countries of destination, Taiwan (Chinese), with a CAGR of +14.7%, saw the highest rates of growth with regard to 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 2021, the average sugar export price amounted to $X per ton, flattening at the previous year. Over the period under review, the export price, however, recorded a mild descent. The most prominent rate of growth was recorded in 2019 when the average export price increased by 8% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to the United Arab Emirates ($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 China (+4.8%), while the prices for the other major destinations experienced mixed trend patterns.

Sugar Imports

Imports into Japan

For the tenth year in a row, Japan recorded growth in purchases abroad of sugar, which increased by 9.8% to X tons in 2021. Overall, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +8.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +109.3% against 2012 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 10%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, sugar imports expanded significantly to $X in 2021. The total import value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 12% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, Thailand (X tons) constituted the largest sugar supplier to Japan, accounting for a 79% share of total imports. Moreover, sugar imports from Thailand exceeded the figures recorded by the second-largest supplier, Australia (X tons), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Thailand totaled +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+5.3% per year) and the Philippines (+13.8% per year).

In value terms, the largest sugar suppliers to Japan were Thailand ($X), Australia ($X) and the Philippines ($X), together accounting for 98% of total imports.

Among the main suppliers, the Philippines, with a CAGR of +21.0%, saw 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

In 2021, the average sugar import price amounted to $X per ton, remaining constant against the previous year. In general, the import price, however, continues to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2016 an increase of 3.2% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+6.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform