In 2023, Japan's soybean demand stood at 3.62 million metric tons. The forecasted data from 2024 to 2028 shows a steady increase in demand, with values rising from 3.64 million metric tons in 2024 to 3.73 million metric tons in 2028. Year-on-year variations are modest, with increases of approximately 0.55% from 2024 to 2025, 0.55% from 2025 to 2026, 0.82% from 2026 to 2027, and 0.54% from 2027 to 2028.
Over the last two years, the demand variation has been relatively stable, highlighting a consistent growth trend. The compounded annual growth rate (CAGR) over the five-year period is around 0.6%, indicating a slow but steady rise in soybean demand in Japan.
Future trends to watch for include potential changes in consumer preferences towards plant-based diets, developments in soybean-based product innovation, and shifts in agricultural policies or trade agreements that may influence import dynamics.
