Milk - Japan

Japan

Gross production value in Milk market is projected to amount to €73.71m in 2024. An annual growth rate of 1.20% is expected (CAGR 2024-2028), resulting in gross production value of €77.32m in 2028.
The import value in Milk market is projected to amount to €0.7m in 2024. An annual growth rate of 46.19% is expected (CAGR 2024–2028).
The export value in Milk market is projected to amount to €27.2m in 2024. An annual growth rate of 17.95% is expected (CAGR 2024–2028).

Key regions: United States, Brazil, United Kingdom, Spain, Italy

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Analyst Opinion

Japan is known for its love of tea, but did you know that milk consumption has been on the rise in the country? In recent years, the Milk market in Japan has been experiencing significant growth.

Customer preferences: One reason for the growth in the Milk market in Japan is due to changing customer preferences. In the past, milk was not a common beverage in Japan, but with the rise of health-conscious consumers, there has been an increase in demand for milk and dairy products. Milk is now seen as a healthy alternative to sugary drinks and is often consumed as a post-workout drink.

Trends in the market: One trend in the Milk market in Japan is the increased popularity of flavored milk. Consumers are looking for more variety in their milk choices and are gravitating towards unique flavors such as matcha, strawberry, and banana. Another trend is the rise of lactose-free and low-fat milk options, catering to consumers with dietary restrictions or those looking for healthier options.

Local special circumstances: Japan has a unique dairy industry that is heavily regulated by the government. Due to strict import regulations, domestic dairy production is the main source of milk in Japan. This has led to higher prices for milk and dairy products compared to other countries. Additionally, the aging population in Japan has led to a decline in the number of dairy farmers, which could potentially impact the supply of milk in the future.

Underlying macroeconomic factors: The Japanese government has been promoting a healthy lifestyle through various campaigns, which has contributed to the rise in demand for milk. Additionally, Japan's economy has been steadily growing, leading to an increase in disposable income for consumers. This has allowed consumers to spend more on premium milk and dairy products.Overall, the Milk market in Japan is experiencing growth due to changing customer preferences, trends towards flavored and healthier milk options, and underlying macroeconomic factors. However, the unique regulatory environment and aging population could potentially impact the future supply and pricing of milk in the country.

Methodology

Data coverage:

The data encompasses B2B. Figures are based on the value of gross production in the agriculture market, which values of production are calculated by multiplying gross production by output prices at the farm gate.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting agriculture products due to the non-linear growth of this market, especially because of the direct impact of climate change on the market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.