Japanese Packaged Food Market Analysed by Euromonitor in New Cutting-edge Report Now Available at MarketPublishers.com
24 Mar 2015 • by Natalie Aster
LONDON – Japan’s packaged food saw value growth of 2% as of 2014, underpinned by a rise in the average unit cost of packaged food. The country’s government implemented a tax hike, increasing value-added tax (VAT) from 5% to 8% in April 2014. During 2014, the cost of a slew of ingredients used in making packaged food, like milk, fruit and flour, surged, which was primarily owing to the Japanese yen’s weakening, soaring import costs and a decrease in the volume of domestic production causing product shortage. The hike in unit price was also underpinned by rising popularity of premium products which provide added value to consumers. The popularity of premium products was supported by the growth in the number of senior citizens in the population, who do not mind paying more for better quality products.
The packaged food industry is projected to keep on seeing sluggish growth through to 2019, in spite of the population reduction. The increase in VAT and reduced household income growth caused a slow pace of the recovery in the national economy. Nevertheless, the economic revival is expected to accelerate, as small- and medium-sized businesses beging to reap benefits from the strong performance of large-scale companies currently being supported by the government’s economic initiative – Abenomics. In the offing, the revitalisation of Japan’s economy is anticipated to stimulate growth of the household incomes and increase household budgets for buying packaged food.
New market research report “Packaged Food in Japan” drawn up by Euromonitor International offers an insightful guide to the packaged food market space in Japan, examines its size and shape. The study provides the most recent retail sales data for 2010-2014, which enables to understand what sectors are driving the growth in the sector. The research publication delves into a deep analysis of the different factors that are influencing the industry, canvasses the competitive situation and identifies the dominant players and top brands. The study provides distribution data, company and brand shares, as well as market size data, historical and forecast.
Packaged Food in Japan
Published: March, 2015
Price: US$ 6,500.00
More new market research reports by the publisher can be found at Euromonitor page.