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Australia’s quality food and drink reputation fits Japan’s health market
05 Feb 2013
Australia’s rigorous standards for vitamin supplements and other health-related food and drink fit well with the demands of the ageing and health-conscious Japanese consumer segments.
Japan is the world’s third largest market for functional food and beverages, a market valued at 1.77 trillion yen (A$ 22 billion) in 2011.
Australia’s reputation for high quality and strict regulatory standards have created a competitive advantage in Japan, where a rapidly ageing society and an increase in lifestyle-related diseases have increased demand for functional food and beverages.
However, the 'Made in Japan' label and familiar packaging remain the biggest drawcards there, suggesting more opportunities exist for Australian suppliers of bulk goods and ingredients than for finished products.
Fish oil and freeze-dried barley grass powder are two examples of Australian ingredients that have been successfully introduced to Japanese companies.
The top three areas of demand are intestinal regulation, nutritional fortification, and lifestyle disease prevention, which notched sales of more than 200 billion yen (A$ 2.5 billion) in 2012.
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