Food & Drink - Japan

Japan

The Food & Drink market in Japan is expected to witness significant growth in the coming years.
According to projections, the total revenue in this market is projected to reach €49.76m in 2022.
This is expected to be driven by various factors, including the increasing demand for food and drinks among consumers.
Furthermore, the market is expected to exhibit a compound annual growth rate (CAGR 2022-2027) of 8.96%.
This steady growth is anticipated to result in a projected market volume of €75.22m by 2027.
This indicates the potential for substantial expansion and opportunities within the Food & Drink market.
When examining the revenue streams within this market, it is projected that in-app purchase (IAP) revenue will reach €6.88m in 2022.
Additionally, paid app revenue is expected to reach €2.93m in the same year.
Moreover, advertising revenue is projected to reach €39.95m in 2022.
These numbers indicate the various avenues through which revenue is generated within the Food & Drink market.
In terms of downloads, it is anticipated that the number of downloads in the Food & Drink market will reach 25.17m downloads in 2022.
This reflects the popularity and widespread usage of mobile applications related to food and drinks.
Additionally, the average revenue per download is currently estimated to be €1.98 , highlighting the profitability of each download.
In a global context, it is interesting to note that in the United States generates the highest revenue in the Food & Drink market, with a projected revenue of €746.40m in 2022.
This demonstrates the significant market size and potential in the United States, making it a key player in the global food and drink industry.
Overall, the Food & Drink market in Japan is poised for growth, with projected revenue and market volume expected to increase steadily in the coming years.
This presents opportunities for businesses and investors to tap into this market segment and capitalize on the growing consumer demand for food and drinks.

Key regions: United States, India, South Korea, Japan, Asia

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Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.