Japan Hog Production and Pork Market is projected to grow at a CAGR of 2.8% during 2024-2030

In terms of distribution channel, Hypermarkets/Supermarkets attained the highest revenue share in the Japan Hog Production and Pork Market – 6Wresearch

In 2023, Hypermarkets/Supermarkets garnered the maximum revenue share in Japanese pork market attributed the convenience they provide, offering consumers a diverse array of products, including fresh produce, meats, and groceries at a single location coupled with attractive discounts for promotions and stock clearance. Moreover, the assurance of food safety standardization further reinforces consumer trust in these retail outlets.

According to 6Wresearch, Japan Hog Production and Pork Market is projected to grow at a CAGR of 2.8% during 2024-2030. In 2022, fast food and restaurant sales reached approximately $26.6 billion and $45.9 billion, respectively, with a total of 909,560 operational restaurants in Japan. Additionally, the restaurant sector is projected to experience a growth of around 10.2% CAGR, indicating a potential rise in demand for pork in the forecasted period. In 2023, Japan’s tourism recovered to about 80% of pre-COVID levels, witnessing an arrival of around 25 million visitors in the country. Subsequently, Increased tourists bolstered the demand for hotels and food. During the forecast period, construction of nw hotels and influx of tourists is likely to create potential demand for pork in the country.

Japan heavily depends on importing 80% of its pork due to a 51% surge in feed costs and elevated domestic carcass prices. Anticipated tariff cuts in 2024 may further boost imports. However, continuing yen depreciation in 2024 is likely to create inflationary pressure and increase pork costs, potentially causing a decline in pork demand in the country.

According to Abhishek Mishra, Senior Research Analyst, 6Wresearch, Belly/Side of Pork/Bacon garnered maximum revenue in 2023 in Japanese pork market in 2023 owing to its umami flavour, which is highly valued in Japanese cuisine coupled with dominant influence of ramen culture in Japan where pork belly is a common ingredient in use.

The Japan Hog Production and Pork Market (2024-2030) report provides an in-depth analysis with 15 figures and 8 tables, covering 77 pages. The report comprehensively covers the market by form, type, end users and distribution channel. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.