Japan Soybean Oil Market Outlook, 2028

The history of soybeans in Japan dates back over a thousand years. Soybeans were introduced to Japan from China and Korea during the Yayoi period (300 BC to 300 AD). They quickly became a staple crop. Soybeans are grown in various regions of Japan. Different regions have distinct climates and soil conditions, affecting the suitability for soybean cultivation. For example, Hokkaido in the north is known for its high-quality soybeans. Soybeans are often part of a crop rotation system with other crops like rice and wheat. This practice helps maintain soil fertility and prevent soil degradation. Traditional farming practices include hand planting and harvesting. While modern equipment is also used, some regions continue to preserve traditional techniques for cultural and historical reasons. Japan cultivates various soybean varieties. The most common varieties include edible soybeans used for tofu, soy sauce, and miso production, while some non-edible varieties are used for industrial purposes. Soybeans are well-suited to Japan's climate. Spring soybeans are typically planted in April and harvested in September, while winter soybeans are planted in the fall and harvested the following spring. Japan is renowned for its traditional fermentation techniques, particularly in the production of miso and soy sauce. These processes have been refined and passed down through generations. Soybeans are highly valued for their nutritional content, providing a rich source of protein, essential amino acids, and nutrients. They are considered a healthy and sustainable source of plant-based protein. Tofu holds a special place in Japanese cuisine and culture. It's not only a versatile ingredient but also a canvas for culinary creativity and artistry. Setsubun is a well-known festival in Japan where people throw roasted soybeans to drive away evil spirits and invite good fortune for the coming year. This practice, called "mamemaki," is a lively and beloved tradition. According to the research report, “Japan Soybean Oil Market Overview, 2028" published by Bonafide Research, the market is expected to witness significant growth during the forecast period. Traditional Japanese cuisine relies heavily on soybean oil for various cooking techniques, including stir-frying, deep-frying, and salad dressings. This culinary tradition maintains a consistent demand for soybean oil. Health-conscious consumers in Japan often prefer soybean oil due to its low saturated fat content and high levels of polyunsaturated and monounsaturated fats. Soybean oil is perceived as heart-healthy cooking oil. Soybean oil contains essential fatty acids and vitamin E, which contribute to its nutritional value. These benefits make it a popular choice for consumers who prioritize health and well-being. Soybean oil is used in various industrial applications, including the production of margarine, mayonnaise, and processed foods. The food processing industry's demand for soybean oil remains substantial. Strict food labeling regulations in Japan ensure that consumers can make informed choices about the cooking oils they use. Clear and transparent labeling is essential for product sales. Advances in oil extraction and refining technologies can improve the quality of soybean oil, making it more appealing to consumers. Innovations in packaging and storage also impact market dynamics. Japanese government policies and regulations related to food safety, labeling, and imports play a crucial role in shaping the soybean oil market. Compliance with these regulations is essential for market access. An increasingly diverse and international diet in Japan has led to the incorporation of a wider range of cooking oils. Soybean oil competes with oils from various culinary traditions. Culinary tourism and interest in exploring diverse cuisines can create opportunities for soybean oil as it is featured in both traditional Japanese dishes and international recipes. Japan has an aging population with health concerns related to diet. Soybean oil's potential health benefits, such as its role in heart health, may become increasingly important for older consumers.

Japanese consumers are becoming more educated about the potential health and environmental impacts of their food choices. They are often willing to pay a premium for organic products, including soybean oil, as they perceive them to be better for their health and the environment. Organic products are subject to rigorous certification and quality standards. Japanese consumers trust organic certifications, such as JAS (Japan Agricultural Standard), which ensures that organic soybean oil meets specific criteria for organic production. This trust contributes to the growth of the organic segment. Japanese consumers are increasingly concerned about environmental sustainability. Organic farming practices, which prioritize soil health and biodiversity conservation, resonate with those who wish to support eco-friendly and sustainable agriculture. Some consumers have soy allergies or sensitivities. Organic soybean oil is often perceived as a safer option for individuals with soy-related allergies, as it is produced using traditional methods without genetic modification. Organic soybean oil is typically less processed and retains a more natural flavor profile compared to conventional soybean oil. This can be appealing to consumers who seek a mild, natural taste in their cooking. The adoption of organic farming practices for soybean cultivation is increasing in Japan. Farmers are transitioning to organic methods to meet the rising demand for organic soybean oil, contributing to a larger organic supply. Japan's food processing industry is a significant consumer of soybean oil. Soybean oil is widely used as cooking and frying oil in the production of snacks, baked goods, processed foods, and ready-to-eat meals. Its neutral flavor and high smoke point make it suitable for various food processing applications. Soybean oil is a common ingredient in bakery and confectionery products such as cookies, cakes, pastries, and chocolates. It contributes to the texture and flavor of these products while providing a stable source of fat. Snack foods like potato chips, crackers, and fried snacks often require large quantities of soybean oil for frying. The snack food industry's continued expansion contributes to the growth of the industrial segment. The presence of international fast-food chains in Japan relies heavily on soybean oil for deep frying, as it is a preferred choice for frying items like French fries, chicken, and other fast-food menu items. Restaurants, cafeterias, and foodservice establishments in Japan use soybean oil extensively for various cooking methods, including deep frying, stir-frying, sautéing, and general cooking. Its affordability and performance make it favoured cooking oil in the foodservice sector. Soybean oil has a long shelf life, which is beneficial for the food processing industry, as it helps extend the shelf life of processed and packaged foods. The food processing industry in Japan adheres to strict quality and safety standards. Soybean oil, especially when sourced from reputable suppliers, meets these standards, enhancing its usage in food processing. Hypermarkets and supermarkets offer a wide range of soybean oil brands, varieties, and packaging sizes, providing consumers with abundant choices. This extensive product selection caters to diverse consumer preferences and cooking needs. Hypermarkets and supermarkets are one-stop shopping destinations where consumers can purchase groceries, household items, and soybean oil in a single visit. This convenience encourages shoppers to add soybean oil to their regular grocery lists. These retail outlets are often conveniently located in residential neighbourhoods and commercial areas, making it easy for consumers to access soybean oil while doing their routine shopping. Hypermarkets and supermarkets frequently run promotional activities such as discounts, bulk purchase deals, and loyalty programs that attract budget-conscious consumers. These promotions can drive increased soybean oil sales. Retailers take measures to ensure the freshness of their products, including soybean oil. They carefully manage stock rotation and check expiry dates, assuring consumers of product quality. Hypermarkets and supermarkets typically employ knowledgeable staff who can assist customers with product selection and answer questions about different soybean oil options, brands, and uses. Retailers often provide educational materials and labelling information to help consumers make informed choices about the soybean oil they purchase. This transparency builds trust and confidence. For instance, some of the most popular hypermarkets and supermarkets in Japan include AEON, Ito-Yokado, Seiyu, Don Quijote, Life and many more. Refined soybean oil is generally the most affordable, while unrefined and organic soybean oil is more expensive. From around ¥100 to ¥500 for a bottle of soybean oil in Japan. Considered in this report: • Geography: Japan • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report: • Japan Soybean Oil market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Nature • Conventional • Organic

By End User • Household • Industrial • Food Service Distribution Channel • Convenience store • Hypermarket/Supermarket • Direct Sales • Online • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Soybean Oil industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.