Soybeans market in Japan

Earlier Report Observations

The soybean market in Japan grew from 3 448 thousand tons in 2018 to 3 610 thousand tons in 2019, supported by steady demand for quality domestic soybeans. However, volume declined to 3 382 thousand tons in 2020, even as health trends increased the popularity of soybean protein for alternative meat and dietary supplements.

Market volume recovered to 3 518 thousand tons in 2021 and reached 3 746 thousand tons in 2022, driven by the expansion of the soybean meat market due to health awareness, processing advancements, and rising imported meat prices. Government policies under the 'Green Food System Strategy' also promoted sustainable agriculture and contract farming for domestic soybeans. In 2023, volume fell to 3 416 thousand tons, despite the formation of the Japan Soy Meat Association to accelerate household adoption.

For 2024 and 2025, factors included rising domestic soybean demand with quality concerns due to warming, and competitive international prices from increased production in the Americas. The soybean protein market continued to grow, while the soybean meat segment saw slowed expansion since 2022.

Production soybeans in Japan

In kind, 2018-2021, K t

From 2018 to 2021, Japan ranked 26th globally in soybean production.

Top producers of soybeans, 2018-2021

World map of production of soybeans, 2018-2021

Japan's soybean production grew for the third consecutive year. In 2021, the country produced 246.5 K t of soybeans, marking a 12.6% increase from the previous year. Over the 2018-2021 period, production rose by 16.7%, with a compound annual growth rate of 5.3%.

Annual dynamics of production in Japan in kind, 2018-2021, K t

Exports soybeans from Japan

Exports in kind, K t

The data shows irregular changes, reflecting a volatile market environment. Exports peaked in 2019 at 0.1 K t, then fell to a low in 2018, with a two-fold difference between these years. In 2021, Japan exported 0.1 K t of soybeans, a sharp decline of 30.1% compared to 2020. The largest increase occurred in 2019, at 98.5%.

Annual dynamics of product's exports from Japan in kind, 2018-2021, K t

From 2018 to 2021, the top buyers of Japanese soybeans were Asia, not elsewhere specified (28.6% of exports in kind), Hong Kong (22.0%), and the United States (15.0%). Together, these markets accounted for 65.7% of total exports in kind.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Japan in kind, 2018-2021

Exports in value, M $ US

The data indicates irregular changes, pointing to a volatile market environment. Exports reached a peak in 2019 at 0.5 M $ US, then dropped to a low in 2018, with a 2.4-fold change between these years. In 2021, Japan exported 0.3 M $ US of soybeans, up 26.6% from the previous year. The largest decline was in 2020 at 49.4%, while the largest increase was in 2019 at 142.6%.

Annual dynamics of product's exports from Japan in value, 2018-2021, M $ US

Between 2018 and 2021, Hong Kong (32.7% of exports in value terms), Italy (17.5%), and the United States (17.3%) held the largest shares of soybean exports from Japan in value terms. Combined, they made up 67.6% of total flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Japan in value, 2018-2021

Imports soybeans to Japan

Imports in kind, K t

In 2021, Japan's soybean imports from abroad totaled 3 271 K t, showing a moderate increase of 3.4% year-over-year. The minimum value was recorded in 2020 at 3 163 K t, while the maximum was in 2019 at 3 392 K t. The largest decline occurred in 2020 at 6.7%, and the largest increase was in 2019 at 4.8%.

Annual dynamics of product's imports to Japan in kind, 2018-2021, K t

Throughout 2018-2021, the United States accounted for 74.0% of Japan's soybean imports in kind, with the remaining volume distributed among many countries, each with smaller individual shares.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Japan in kind, 2018-2021

Imports in value, M $ US

After a two-year decline, Japan's soybean imports increased in value. In 2021, the country imported 2 075 M $ US of soybeans, a 39.2% rise from the previous year. From 2018 to 2021, imports grew by 34.8%, equivalent to an annualized rate of 10.5%. The minimum value was in 2020 at 1 491 M $ US, with the largest decline that year at 2.9%.

Annual dynamics of product's imports to Japan in value, 2018-2021, M $ US

Over the 2018-2021 period, the United States remained the dominant partner for Japan's soybean imports in value terms, holding a 72.1% share of total flows, while other markets contributed smaller portions.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Japan in value, 2018-2021