Japan: Whey Market 2024

Whey Market Size in Japan

In 2022, the Japanese whey market increased by X% to $X, rising for the third year in a row after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Whey Exports

Exports from Japan

For the third year in a row, Japan recorded growth in overseas shipments of whey, which increased by X% to X tons in 2022. Over the period under review, exports enjoyed a strong expansion. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, whey exports soared to $X in 2022. Overall, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The Philippines (X tons) was the main destination for whey exports from Japan, accounting for a X% share of total exports. Moreover, whey exports to the Philippines exceeded the volume sent to the second major destination, South Korea (X tons), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Philippines was relatively modest.

In value terms, the Philippines ($X) remains the key foreign market for whey exports from Japan, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the Philippines totaled X%.

Export Prices by Country

In 2022, the average whey export price amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, saw a mild curtailment. The growth pace was the most rapid in 2013 when the average export price increased by X%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas 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 South Korea amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (X%), while the prices for the other major destinations experienced a decline.

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Whey Imports

Imports into Japan

In 2022, purchases abroad of whey was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, whey imports soared to $X in 2022. Over the period under review, total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2017 indices. The pace of growth was the most pronounced 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 likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of whey to Japan, accounting for a X% share of total imports. Moreover, whey imports from the United States exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (X% per year) and Germany (X% per year).

In value terms, the United States ($X), New Zealand ($X) and Australia ($X) constituted the largest whey suppliers to Japan, with a combined X% share of total imports. Germany, Argentina, Poland, the Netherlands, South Korea, France, Belarus, Italy, Portugal and Spain lagged somewhat behind, together accounting for a further X%.

Belarus, with a CAGR of X%, recorded the highest growth rate of the value of imports, among 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 2022, the average whey import price amounted to $X per ton, growing by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. The import price peaked at $X per ton in 2014; however, from 2015 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 New Zealand ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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