Japan: Whey Market 2023

Whey Market Size in Japan

In 2021, the Japanese whey market increased by 7.7% to $X, rising for the second consecutive year after two years of decline. In general, consumption continues to indicate a relatively flat trend pattern. Whey consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Whey Exports

Exports from Japan

Whey exports from Japan soared to X tons in 2021, growing by 124% against 2020 figures. Overall, exports saw a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 8,144% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, whey exports skyrocketed to $X in 2021. Over the period under review, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 7,066%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

South Korea (X tons) and the Philippines (X tons) were the main destinations of whey exports from Japan.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +53.3%).

In value terms, the largest markets for whey exported from Japan were South Korea ($X) and the Philippines ($X).

The Philippines, with a CAGR of +53.2%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

The average whey export price stood at $X per ton in 2021, with a decrease of -12.1% against the previous year. Overall, the export price saw a abrupt descent. The pace of growth was the most pronounced in 2015 an increase of 44%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2021, the country with the highest price was South Korea ($X per ton), while the average price for exports to the Philippines stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (-0.1%).

Whey Imports

Imports into Japan

In 2021, purchases abroad of whey decreased by -1.6% to X tons, falling for the fourth year in a row after four years of growth. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 11% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, whey imports rose significantly to $X in 2021. In general, imports continue to indicate a mild decline. The growth pace was the most rapid in 2017 when imports increased by 41% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), South Africa (X tons) and Germany (X tons) were the main suppliers of whey imports to Japan, together accounting for 46% of total imports.

From 2012 to 2021, the biggest increases were in South Africa (with a CAGR of +30.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest whey suppliers to Japan were the United States ($X), New Zealand ($X) and the Netherlands ($X), with a combined 46% share of total imports. These countries were followed by Germany, Australia, South Africa, Poland, South Korea, Argentina, France, Belarus, Portugal and Canada, which together accounted for a further 44%.

South Africa, with a CAGR of +26.5%, 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 2021, the average whey import price amounted to $X per ton, with an increase of 14% against the previous year. Over the period under review, the import price, however, continues to indicate a mild shrinkage. The pace of growth appeared the most rapid in 2017 when the average import price increased by 27% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+1.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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