The demand for vegetable oils in Japan stood at 3.40 million metric tons in 2023. The forecasted demand is expected to show a steady upward trend from 2024 to 2028, growing from 3.41 million metric tons in 2024 to 3.47 million metric tons in 2028.
Year-on-year variations indicate a minor yet consistent increase, with a growth of approximately 0.29% from 2024 to 2025, 0.58% from 2025 to 2026, and 0.58% from 2026 to 2027. From 2027 to 2028, the increase is expected to slow slightly to 0.29%. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) is anticipated to be around 0.41%.
Future trends to watch for include potential changes in consumer preferences towards healthier oils, shifts in the global trade policies impacting imports, fluctuations in the prices of raw materials, advancements in oil extraction technologies, and initiatives for sustainability practices in agriculture. These factors could significantly influence the vegetable oil market in Japan, leading to adjustments in demand forecasts.
