Japan: Whisky Market 2024

Whisky Market Size in Japan

The Japanese whisky market skyrocketed to $X in 2022, picking up by 17% against the previous year. In general, the total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +27.7% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Whisky Production in Japan

In value terms, whisky production rose notably to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a mild decline. The most prominent rate of growth was recorded in 2020 when the production volume increased by 50% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Whisky Exports

Exports from Japan

Whisky exports from Japan surged to X litres in 2022, jumping by 16% on 2021. Over the period under review, exports showed a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 50%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, whisky exports reached $X in 2022. In general, exports recorded significant growth. The pace of growth was the most pronounced in 2021 with an increase of 65%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

The United States (X litres), France (X litres) and China (X litres) were the main destinations of whisky exports from Japan, together comprising 56% of total exports. Taiwan (Chinese), the Netherlands, South Korea, Singapore, the UK, Australia, Canada, India and Russia lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +75.6%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and France ($X) were the largest markets for whisky exported from Japan worldwide, with a combined 64% share of total exports. Singapore, the Netherlands, Taiwan (Chinese), Australia, the UK, Canada, South Korea, India and Russia lagged somewhat behind, together accounting for a further 25%.

India, with a CAGR of +70.0%, recorded the highest growth rate of 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 whisky export price amounted to $X per litre, declining by -12.8% against the previous year. Overall, export price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, whisky export price increased by +33.4% against 2018 indices. The pace of growth was the most pronounced in 2021 an increase of 23% against the previous year. As a result, the export price reached the peak level of $X per litre, and then dropped in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per litre), while the average price for exports to Russia ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+21.0%), while the prices for the other major destinations experienced more modest paces of growth.

Whisky Imports

Imports into Japan

Whisky imports into Japan surged to X litres in 2022, jumping by 25% on the previous year. In general, imports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2013 when imports increased by 32%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, whisky imports rose significantly to $X in 2022. Over the period under review, total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +10.8% against 2020 indices. The growth pace was the most rapid in 2016 when imports increased by 20% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the UK (X litres) constituted the largest whisky supplier to Japan, with a 62% share of total imports. Moreover, whisky imports from the UK exceeded the figures recorded by the second-largest supplier, the United States (X litres), threefold. Canada (X litres) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the UK amounted to +11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+7.0% per year) and Canada (+5.4% per year).

In value terms, the UK ($X) constituted the largest supplier of whisky to Japan, comprising 70% of total imports. The second position in the ranking was held by the United States ($X), with a 21% share of total imports. It was followed by Canada, with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the UK totaled +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+0.4% per year) and Canada (+2.6% per year).

Import Prices by Country

In 2022, the average whisky import price amounted to $X per litre, which is down by -13.5% against the previous year. In general, the import price recorded a deep downturn. The most prominent rate of growth was recorded in 2014 an increase of 45%. The import price peaked at $X per litre in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 the UK ($X per litre), while the price for Spain ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (-2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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