Thailand Is Expanding Fast in Japan’s Vegoil Import Market


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Japan’s retail sales of Cooking Oils were US$1.7 billion in 2021. From 2017 to 2021, sales of Cooking Oils in the country grew by 4.6%. According to data from Euromonitor, Japan is the eleventh largest retail market for Edible Oils. 

Other Edible Oil was the top category, with sales estimated at US$907.2 million in 2021, followed by Rapeseed Oil (US$416.7 million) and Olive Oil (US$414.9 million). From 2017-2021, sales of other Edible Oil recorded the highest growth, with a CAGR of 7.5%. Cooking Oil sales are forecast to grow by 1.2% from 2022 to 2026, reaching US$1.8 billion in 2026. Sales of rapeseed Oil are forecast to reach US$405.2 million by 2026.  

Japan is a net importer of Cooking Oils, its imports valued at US$1.4 billion, while its exports totaled US$94.1 million. Palm Oil and its fractions were leading in import values with US$672.3 million, representing 49% of total Cooking Oil imports in the country. 

From 2017 to 2020, Japan’s imports of Cooking Oils increased by a CAGR of 2.8%. Among Japan’s Cooking Oil commodities, Canola Oil is the commodity that recorded the highest growth between 2017 and 2021 with a CAGR of 8.6%, while Soybean Oil and its fractions recorded the most significant decline with −11.1%.

Malaysia is Japan’s leading supplier of Cooking Oils. Imports from Malaysia were valued at US$479.0 million, followed by Indonesia, with imports valued at US307.8 million, and Spain, with imports valued at US$156.3 million. As of August, Malaysia shipped 242,842 tons of Vegoil, according to the AgFlow data.

Among Japan’s top 10 suppliers of Cooking Oils, Thailand recorded the largest growth between 2017 and 2021, with a CAGR of 35.2%, followed by China (CAGR of 7.5%) and Indonesia (CAGR of 6.7%).

vegoils Import markets by million USD

Japan’s Vegoil Market Players and Brands

Nisshin Oillio Group Ltd is Japan’s most prominent player in the Cooking Oil market. The company’s sales of Edible Oils were US$832.6 million, representing a market share of 48%. Although the company’s sales grew by 4% from 2017 to 2021, it lost −0.8% market during this period. 

Ajinomoto Co Inc. was the second leading category in sales in 2021 with US$152.8 million, representing a market share of 8.8%. From 2017 to 2021, the company’s sales of Cooking Oils declined. Furthermore, Ajinomoto Co Inc lost a −9.8% market share during this period.

Kadoya Sesame Mills Inc is Japan’s third-largest company in the Cooking Oils market, with retail sales estimated at US$95 million, representing a 5.5% market share. From 2017 to 2021, the company’s Cooking Oil sales increased by 4.6%.

Next performers are Deoleo SA, Takemoto Oil & Fat Co Ltd, Bright Food (Group) Co Ltd, Solleone Olive Co, and Mataluni SpA (Gruppo Mataluni). Private label players hold a market share of 3.4%, with sales valued at US$59 million. From 2017 to 2021, private labels’ sales increased by 4.1%.

Regarding brands, Nisshin Oillio Group Ltd.’s Nisshin Oillio and Bosco are the two largest Cooking Oils brands in Japan, with sales valued at US$661 million (market share of 38.0%) and US$172.0 million (market share of 10%), respectively. Ajinomoto was the third-largest brand with US$153 million, representing a market share of 9%.

The following brands are Kadoya, Maruhon Sesame Oil (Takemoto Oil & Fat Co Ltd), Filippo Berio (Bright Food (Group) Co Ltd), Bertolli (Deoleo SA), Carbonell (Deoleo SA), and Solleone (Solleone Olive Co). Sales from private label brands were US$58.8 million in 2021, representing a growth of 4.1% from 2017.

In 2021, sales through store-based retailing were US$1.6 billion, representing a market share of 94.3%. Within this category, grocery retailers were leading in sales, with US$918.6 million, representing a market share of 52.8% of total Cooking Oil sales.



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