Japan Meat Market Heading towards Healthy Growth: Projected to grow at a CAGR of 4.9% by 2027
Published | 26 November 2021
Japan's meat consumption is breaking records, and shows no signs of slowing down. Japan meat market is growing at a high CAGR because of the increasing health-consciousness among consumers and growing import and export activities for meat in the country to fulfill the growing demand for meat among Japanese consumers…
A recent study, conducted by the strategic consulting and market research firm BlueWeave Consulting, revealed that the Japan meat market is estimated to grow at a CAGR of 4.9% by 2027. A growing health-conscious population fuels the meat market in Japan. Furthermore, increasing imports and exports of meat to meet the growing demand for meat among Japanese consumers also favors the Japan meat market. A growing health-conscious population fuels the meat market in Japan. Furthermore, increasing imports and exports of meat in response to increasing demand for meat among Japanese consumers also favors Japan’s meat market. In addition, the growing demand for chilled and frozen meat and its increasing accessibility through supermarkets/hypermarkets and specialty stores fuel the market for meat in Japan. However, increasing adoption of a vegan lifestyle and growing penetration of plant-based food may act as a major restraint for the market’s growth.
Increasing Availability of Packaged Frozen Meat Projected to Boost the Market’s Growth
With the increasing demand for ready-to-eat food, meat processing companies in Japan are launching chilled and frozen meat to cater to consumers’ needs. Frozen meat has a longer shelf life and can retain nutrients for a longer period. In addition, many meat products are ready-to-eat and require only frying or baking before consumption. In order to meet the needs of the working-class population with a busy lifestyle, companies are increasingly selling frozen meat that is ready to eat. With the increase in the number of workers in Japan, the demand for frozen meat is also on the rise, propelling the growth of the market.
Flourishing Tourism Sector Favoring the Japan Meat Market
According to the 2017 Travel and Tourism Competitiveness Report, Japan ranked 4th out of 141 countries, which is the highest in Asia. One of the reasons for the booming meat market in Japan is the flourishing tourism industry. Tourists from around the world are generally attracted to Japanese cuisine. The number of foreign tourists in Japan in 2019 reached 31.88 million. As a result, hotels, restaurants, and street food vendors are growing rapidly, increasing the size of the Japan meat market.
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Japan Meat Market - By Distribution Channel
Based on categories, the Japan meat market is segmented into on-trade and off-trade. The off-trade segment is further classified into supermarkets/hypermarkets, specialty stores, online stores, and others. The supermarket/hypermarkets segment accounts for the largest market owing to the availability of a wide range of products, including fresh, chilled, and frozen meat under one roof. The presence of a high number of supermarkets/hypermarkets in Japan also plays a crucial factor in driving the market growth. On the other hand, the on-trade segment also covers a substantial share in the market because of the high popularity of restaurants and Japanese street food.
Impact of COVID-19 on Japan Meat Market
The Japan meat market was negatively impacted by the unprecedented outbreak of the COVID-19 pandemic. Though Japan is one of those countries that were able to efficiently control the spread of the virus, the lockdown imposed by the Japanese government to mitigate the virus spread obstructed the meat processing plants and supply channels. Furthermore, import and export activities were restricted, causing a supply shortage in supermarkets/hypermarkets that affected the market. However, meat consumption is anticipated to get back on track in the post-COVID-19 period as restrictions on tourism are lifted.
The leading players in the Japan meat market are Ryu Mei Co Ltd, AAG Enterprises, AG Group Co. Ltd., Agenda, Aslink Japan Ltd., AUN Company, Bice Company Ltd., Coltibuono Trading, Darshana Lokuge, Archie Inc., Nihon Shokken Food-Tech Co., and other prominent players.
Japan meat market is highly fragmented due to the presence of several industry participants offering a wide range of meat products. The companies significantly focus on launching of new meat products to meet changing consumption pattern. Additionally, the market players work on improving their distribution channels to increase their product penetration. Furthermore, the adoption of competitive strategies like partnerships, joint ventures, mergers, acquisitions, etc., is also prominent in this market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Japan meat market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the Japan meat market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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