In 2023, Japan imported approximately 3.38 million metric tons of soybeans. Forecasted data from 2024 through 2028 show a consistent, albeit slight, annual increase in import volumes, projecting a rise to 3.52 million metric tons by 2028. The year-on-year growth for 2024 is anticipated to be 0.89%, maintaining a similar upward trend of approximately 0.87% annually through 2028. Over the five-year forecast period, the compound annual growth rate (CAGR) is forecasted to be roughly 0.83%.
Future trends to watch for include potential shifts in domestic agricultural policies, trade agreements impacting imports, and consumer demand for soybean-based products. Monitoring global soybean production and prices may also provide insights into future import patterns in Japan.
