Updated Jan 11, 2023 07:19

Preserved Asparagus Market in Japan

Market Overview
The Japanese preserved asparagus market expanded remarkably to $ in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a noticeable contraction. As a result, consumption attained the peak level of $. From 2009 to , the growth of the market remained at a somewhat lower figure.

In value terms, preserved asparagus production expanded notably to $ in estimated in export price. Overall, production, however, saw a perceptible decline. The most prominent rate of growth was recorded in 2008 with an increase of %. As a result, production reached the peak level of $. From 2009 to , production growth remained at a lower figure.


Consumption
In , approx. tons of preserved asparagus were consumed in Japan; surging by % against the year before. Overall, consumption, however, recorded a abrupt decline. Preserved asparagus consumption peaked at tons in 2008; however, from 2009 to , consumption failed to regain momentum.

The value of the preserved asparagus market in Japan rose notably to $ in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a noticeable shrinkage. As a result, consumption reached the peak level of $. From 2009 to , the growth of the market remained at a somewhat lower figure.


Market Forecast
Depressed by shrinking demand for preserved asparagus in Japan, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
The growth in the share of Japan imports of in the preserved asparagus market structure from % in 2007 to % in is explained by a more substantial reduction in output, compared with a decrease in imports. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Japan remains a net importer of preserved asparagus; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.