In 2023, household expenditure on butter in Japan stood just below 910 Japanese Yens per year. Moving forward from 2024, there is a steady annual increase in expenditure as evidenced by forecasted values reaching 957 Yens by 2028. This indicates a year-on-year percentage increase of approximately 1.3% between consecutive years from 2024 to 2028, with a compound annual growth rate (CAGR) of around 1.25% over these five years. The upward trajectory suggests a growing demand for butter or increasing prices over the period.
Future trends to watch for include:
- Potential shifts in consumer preferences towards alternative fats and spreads due to health trends.
- Impact of global dairy market fluctuations on domestic butter prices.
- Changes in purchasing power and economic conditions influencing consumer spending patterns in Japan.