Japan Vegetable Oil Market Synopsis
Japan Vegetable Oil market size was valued at $2.40 million in 2020, and is projected to reach $3.06 Billion by 2030, registering a CAGR of 3.1% from 2022 to 2030.
Vegetable oil is a type of plant-derived oil extracted from various oil-rich plant sources, serving as a fundamental component of our modern diet and a versatile ingredient across various industries. It is a key player in the culinary world, extensively used in cooking, food preparation, and baking due to its high smoke point and neutral flavor. Vegetable oils are derived from seeds, nuts, and fruits of plants like soybeans, sunflowers, palm fruit, canola, coconuts, and olives, among others.
- The extraction process involves pressing or solvent extraction, followed by refining to produce a clear, neutral-flavored oil suitable for consumption. Nutritionally, vegetable oil is a vital source of dietary fats, providing essential fatty acids like omega-3 and omega-6 that our bodies cannot produce on their own. These fatty acids play crucial roles in cell membrane formation, hormone production, and various bodily functions. Additionally, vegetable oil is rich in vitamin E, an antioxidant that helps protect cells from oxidative damage, contributing to overall health and well-being.
- Beyond its nutritional significance, vegetable oil finds application in various industries, including manufacturing soaps, cosmetics, lubricants, biodiesel, and other industrial products. Its versatile and widespread usage in both the culinary and industrial sectors cements vegetable oil's place as a vital and multi-faceted component of our daily lives.
Top Key Players:
"Cargill Ltd. (US), Bunge Ltd. (US), Louis Dreyfus Company Japan K.K. (Japan), Wilmar International (Singapore), Marubeni Corporation (Japan), ITOCHU Corporation (Japan), Mitsubishi Corporation (Japan), Mitsui & Co., Ltd. (Japan), Sumitomo Corporation (Japan), ADM Japan Ltd. (Japan), J-OIL MILLS, INC. (Japan), Fuji Oil Co., Ltd. (Japan), Nisshin Oillio Group, Ltd. (Japan), Showa Sangyo Co., Ltd. (Japan), Ito-Yokado Co., Ltd. (Japan) and Other Major Players."
According to a survey conducted in June 2021, olive oil emerged as the top choice for cooking among edible oils in Japan. Approximately 81 percent of the respondents preferred olive oil, while sesame oil closely followed with over 78 percent of participants naming it as their oil of choice.
Japan Vegetable Oil Market Trend Analysis
Growing Health Awareness Among Japanese Consumers
- The growing health awareness among Japanese consumers is a significant driver of the Japan Vegetable Oil Market. In recent years, an increasing emphasis has been on maintaining a healthier lifestyle and making conscious dietary choices to promote well-being. As a result, consumers are seeking healthier cooking oil options, and vegetable oils, rich in unsaturated fats and essential fatty acids, have gained popularity as a healthier alternative to traditional oils.
- Japanese consumers are becoming more conscious of the impact of their dietary choices on their health, particularly concerning heart health and cholesterol levels. Vegetable oils, such as soybean oil, sunflower oil, and olive oil, are known for their favorable fatty acid profiles, making them a preferred choice among health-conscious individuals.
- Moreover, growing health awareness is also influencing the food industry, with a rise in demand for healthier food products. Food manufacturers are incorporating vegetable oils in a wide range of processed foods, snacks, and baked goods to cater to the health-conscious consumer segment.
Shift Toward Plant-Based Diets
- The growing shift toward plant-based diets in Japan presents a significant opportunity in the Japan Vegetable Oil Market. As consumers become increasingly health-conscious and environmentally aware, there is a rising interest in adopting plant-based eating patterns. Plant-based diets emphasize the consumption of fruits, vegetables, whole grains, and legumes while minimizing or eliminating animal-based products.
- Vegetable oils are an essential component of plant-based cooking and food preparation, making them a vital part of the dietary shift. Oils like soybean oil, sunflower oil, and canola oil are widely used in plant-based recipes, providing essential fats and enhancing the flavors of plant-based dishes.
- This dietary trend also opens avenues for product innovation in the Japan Vegetable Oil Market. Manufacturers can develop and market specialty vegetable oils that cater specifically to plant-based diets, such as organic, non-GMO, or cold-pressed oils. By aligning with consumer preferences for healthier and sustainable options, vegetable oil producers can tap into this growing market segment and expand their product offerings.
Japan Vegetable Oil Market Segment Analysis
Japan's Vegetable Oil market is segmented into Type, Nature, Packaging Type, Application, and Distribution Channel. By Type, the Rapeseed Oil segment is Anticipated to Dominate the Market Over the Forecast Period.
- Rapeseed oil has established a dominant position in the Japan vegetable oil market for several reasons. Firstly, its mild flavor and versatile nature make it a preferred choice for various culinary applications, ranging from frying to baking. The oil's high smoke point ensures that it can withstand higher cooking temperatures, making it ideal for Japanese cuisine, which often involves stir-frying and deep-frying.
- Secondly, rapeseed oil's nutritional profile appeals to health-conscious consumers. It is low in saturated fat and rich in omega-3 fatty acids, contributing to its popularity as a healthier alternative to other cooking oils. The increasing awareness of the health benefits associated with rapeseed oil has driven its consumption in the market.
- Lastly, Japan's agricultural landscape contributes to rapeseed oil's dominance. The country has significant rapeseed cultivation, ensuring a steady and reliable supply of domestically produced oil. This localized production fosters a sense of trust and preference among consumers, further bolstering the rapeseed oil segment in the Japanese vegetable oil market.
The Japan Vegetable Oil Market Country Analysis
- The Japan Vegetable Oil Market is a vital sector within the country's food and agricultural industries. Japan heavily relies on imports to meet its vegetable oil demand due to limited domestic production capacity. The market offers a diverse range of vegetable oils, with soybean oil, canola oil, sunflower oil, and palm oil being some of the most commonly consumed varieties.
- The market's growth is influenced by several factors, including evolving dietary preferences, health consciousness, and increasing interest in plant-based diets. As consumers become more health-conscious, there is a rising demand for healthier cooking oils with favorable fatty acid profiles. Additionally, the growing awareness of environmental sustainability is driving interest in plant-based diets, creating opportunities for vegetable oil manufacturers to cater to this trend.
- However, the Japan Vegetable Oil Market also faces challenges, such as price volatility in the global market and intense competition from both domestic and international suppliers. The industry's dependence on imports makes it vulnerable to fluctuations in international trade dynamics and currency exchange rates.
COVID-19 Impact Analysis on Japan's Vegetable Oil Market
- The Covid-19 pandemic has had a notable impact on the Japan Vegetable Oil Market. During the initial stages of the pandemic, panic buying and stockpiling of essential goods, including vegetable oil, led to a surge in demand, causing temporary supply shortages and price fluctuations. However, as the situation stabilized and lockdown measures were imposed, the food service industry, a major consumer of vegetable oils, experienced a significant downturn due to restaurant closures and reduced dining-out activities.
- On the production side, disruptions in logistics and transportation networks affected the import of vegetable oils, impacting the availability and distribution of certain varieties. Additionally, labor shortages and operational restrictions in processing facilities posed challenges to production capacities.
- Despite the challenges, the pandemic also brought about opportunities for the Japan Vegetable Oil Market. With more people cooking at home, the demand for vegetable oils for domestic use increased, partially offsetting the decline in the food service sector.
Top Key Players Covered in The Japan Vegetable Oil Market
- Cargill Ltd. (US)
- Bunge Ltd. (US)
- Louis Dreyfus Company Japan K.K. (Japan)
- Wilmar International (Singapore)
- Marubeni Corporation (Japan)
- ITOCHU Corporation (Japan)
- Mitsubishi Corporation (Japan)
- Mitsui & Co., Ltd. (Japan)
- Sumitomo Corporation (Japan)
- ADM Japan Ltd. (Japan)
- J-OIL MILLS, INC. (Japan)
- Fuji Oil Co., Ltd. (Japan)
- Nisshin Oillio Group, Ltd. (Japan)
- Showa Sangyo Co., Ltd. (Japan)
- Ito-Yokado Co., Ltd. (Japan) and Other Major Players.
Key Industry Developments in the Japan Vegetable Oil Market
In May 2022, Cargill announced its plan to invest $35 million in the purchase and modernization of an edible oil refinery situated in Nellore, Andhra Pradesh. The refinery was projected to be operational later that year, leading to a substantial increase in the production of edible oil in the southern region of India. The main objective of this expansion was to cater to the growing demand from customers in Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu states.
In April 2023, Bunge, a renowned global agribusiness and food industry player, finalized a definitive asset purchase agreement with Fuji Oil. The agreement entailed the acquisition of a state-of-the-art, recently constructed port-based refinery situated in Avondale Terminal, Louisiana. This facility, a part of the Bunge Loders Croklaan joint venture in collaboration with IOI Corporation Berhad, is equipped with advanced multi-oil refining capabilities, presenting Bunge with an opportunity to extend its customer base. The completion of the transaction is contingent on meeting standard closing conditions.
Japan Vegetable Oil Market
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Base Year:
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2022
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Forecast Period:
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2023-2030
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Historical Data:
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2016 to 2021
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Market Size in 2022:
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USD 2.40 Mn.
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Forecast Period 2023-30 CAGR:
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3.1%
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Market Size in 2030:
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USD 3.06 Bn.
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Segments Covered:
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By Type
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- Palm Oil
- Soybean Oil
- Rapeseed Oil
- Sunflower Oil
- Olive Oil
- Others
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By Nature
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By Packaging Type
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- Cans
- Bottles
- Pouches
- Others
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By Application
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- Food Industry
- Pharmaceutical
- Cosmetics & Personal
- Animal Feed
- Industrial
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By Distribution Channels
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- Hypermarkets/Supermarkets
- Convenience Stores
- Online Retail
- Wholesale Distributors
- Specialty Stores
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1. INTRODUCTION
1.1. RESEARCH OBJECTIVES
1.2. RESEARCH METHODOLOGY
1.3. RESEARCH PROCESS
1.4. SCOPE AND COVERAGE
1.4.1. Market Definition
1.4.2. Key Questions Answered
1.5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
5.1. PORTER’S FIVE FORCES ANALYSIS
5.1.1. Bargaining Power Of Supplier
5.1.2. Threat Of New Entrants
5.1.3. Threat Of Substitutes
5.1.4. Competitive Rivalry
5.1.5. Bargaining Power Among Buyers
5.2. INDUSTRY VALUE CHAIN ANALYSIS
5.3. MARKET DYNAMICS
5.3.1. Drivers
5.3.2. Restraints
5.3.3. Opportunities
5.3.4. Challenges
5.4. MARKET TREND ANALYSIS
5.5. REGULATORY LANDSCAPE
5.6. PESTLE ANALYSIS
5.7. PRICE TREND ANALYSIS
5.8. PATENT ANALYSIS
5.9. TECHNOLOGY EVALUATION
5.10. ANALYSIS OF THE IMPACT OF COVID-19
5.10.1. Impact On The Overall Market
5.10.2. Impact On The Supply Chain
5.10.3. Impact On The Key Manufacturers
5.10.4. Impact On The Pricing
5.10.5. Post COVID Situation
5.11. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
5.11.1. Geopolitical Market Disruptions
5.11.2. Supply Chain Disruptions
5.11.3. Instability in Emerging Markets
5.12. ECOSYSTEM
6. JAPAN VEGETABLE OIL MARKET BY TYPE (2016-2030)
6.1. JAPAN VEGETABLE OIL MARKET SNAPSHOT AND GROWTH ENGINE
6.2. MARKET OVERVIEW
6.3. PALM OIL
6.3.1. Introduction And Market Overview
6.3.2. Historic And Forecasted Market Size in Value (2016 – 2030F)
6.3.3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
6.3.4. Key Market Trends, Growth Factors, And Opportunities
6.3.5. Geographic Segmentation Analysis
6.4. SOYBEAN OIL
6.5. RAPESEED OIL
6.6. SUNFLOWER OIL
6.7. OLIVE OIL
6.8. OTHERS
7. JAPAN VEGETABLE OIL MARKET BY NATURE (2016-2030)
7.1. JAPAN VEGETABLE OIL MARKET SNAPSHOT AND GROWTH ENGINE
7.2. MARKET OVERVIEW
7.3. ORGANIC
7.3.1. Introduction And Market Overview
7.3.2. Historic And Forecasted Market Size in Value (2016 – 2030F)
7.3.3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
7.3.4. Key Market Trends, Growth Factors And Opportunities
7.3.5. Geographic Segmentation Analysis
7.4. CONVENTIONAL
8. JAPAN VEGETABLE OIL MARKET BY PACKAGING TYPE (2016-2030)
8.1. JAPAN VEGETABLE OIL MARKET SNAPSHOT AND GROWTH ENGINE
8.2. MARKET OVERVIEW
8.3. CANS
8.3.1. Introduction And Market Overview
8.3.2. Historic And Forecasted Market Size in Value (2016 – 2030F)
8.3.3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
8.3.4. Key Market Trends, Growth Factors And Opportunities
8.3.5. Geographic Segmentation Analysis
8.4. BOTTLES
8.5. POUCHES
8.6. OTHERS
9. JAPAN VEGETABLE OIL MARKET BY APPLICATION (2016-2030)
9.1. JAPAN VEGETABLE OIL MARKET SNAPSHOT AND GROWTH ENGINE
9.2. MARKET OVERVIEW
9.3. FOOD INDUSTRY
9.3.1. Introduction And Market Overview
9.3.2. Historic And Forecasted Market Size in Value (2016 – 2030F)
9.3.3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
9.3.4. Key Market Trends, Growth Factors And Opportunities
9.3.5. Geographic Segmentation Analysis
9.4. PHARMACEUTICAL
9.5. COSMETICS & PERSONAL
9.6. ANIMAL FEED
9.7. INDUSTRIAL
10. JAPAN VEGETABLE OIL MARKET BY DISTRIBUTION CHANNELS (2016-2030)
10.1. JAPAN VEGETABLE OIL MARKET SNAPSHOT AND GROWTH ENGINE
10.2. MARKET OVERVIEW
10.3. HYPERMARKETS/SUPERMARKETS
10.3.1. Introduction And Market Overview
10.3.2. Historic And Forecasted Market Size in Value (2016 – 2030F)
10.3.3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
10.3.4. Key Market Trends, Growth Factors And Opportunities
10.3.5. Geographic Segmentation Analysis
10.4. CONVENIENCE STORES
10.5. ONLINE RETAIL
10.6. WHOLESALE DISTRIBUTORS
10.7. SPECIALTY STORES
11. COMPANY PROFILES AND COMPETITIVE ANALYSIS
11.1. COMPETITIVE LANDSCAPE
11.1.1. Competitive Positioning
11.1.2. JAPAN VEGETABLE OIL MARKET Share By Manufacturer (2022)
11.1.3. Industry BCG Matrix
11.1.4. Heat Map Analysis
11.1.5. Mergers & Acquisitions
11.2. CARGILL LTD. (US)
11.2.1. Company Overview
11.2.2. Key Executives
11.2.3. Company Snapshot
11.2.4. Role of the Company in the Market
11.2.5. Sustainability and Social Responsibility
11.2.6. Operating Business Segments
11.2.7. Product Portfolio
11.2.8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
11.2.9. Key Strategic Moves And Recent Developments
11.2.10. SWOT Analysis
11.3. CARGILL LTD. (US)
11.4. BUNGE LTD. (US)
11.5. LOUIS DREYFUS COMPANY JAPAN K.K. (JAPAN)
11.6. WILMAR INTERNATIONAL (SINGAPORE)
11.7. MARUBENI CORPORATION (JAPAN)
11.8. ITOCHU CORPORATION (JAPAN)
11.9. MITSUBISHI CORPORATION (JAPAN)
11.10. MITSUI & CO., LTD. (JAPAN)
11.11. SUMITOMO CORPORATION (JAPAN)
11.12. ADM JAPAN LTD. (JAPAN)
11.13. J-OIL MILLS, INC. (JAPAN)
11.14. FUJI OIL CO., LTD. (JAPAN)
11.15. NISSHIN OILLIO GROUP, LTD. (JAPAN)
11.16. SHOWA SANGYO CO., LTD. (JAPAN)
11.17. ITO-YOKADO CO., LTD. (JAPAN)
12. INVESTMENT ANALYSIS
13. ANALYST VIEWPOINT AND CONCLUSION
13.1. Recommendations and Concluding Analysis
13.2. Potential Market Strategies