Key Market Indicators
**Japan's Animal Feed Imports Plummet by Over 57% in 2023** In a significant downturn, Japan's animal feed imports have sharply decreased to approximately 7.7 million kilograms in 2023, a stark contrast to the 18 million kilograms recorded in 2022. This represents a staggering 57.2% drop compared to the previous year. The downward trend is part of a longer-term decline in demand, which has seen a 31.7% year-on-year reduction since 1993. **Exports Set to Grow, Reaching 45.5 Million Kilograms by 2028** Conversely, Japan's animal feed exports are on an upward trajectory. Projections indicate that exports will reach around 45.5 million kilograms by 2028, up from approximately 40.1 million kilograms in 2023. This marks an annual growth rate of 2% in compound annual growth rate (CAGR). Since 1993, Japan's animal feed supply has steadily increased by 2.5% year on year. However, in 2023, Japan ranked 43rd globally in animal feed exports, with Jordan surpassing it at 40.1 million kilograms. Leading the rankings were Germany, Belgium, and the United States, occupying the second, third, and fourth positions respectively.
