Japan Sets ¥9.7T Food Tech Investment Outlook Through 2040

Japan has set out a draft public-private investment roadmap allocating ¥9.7 trillion, approximately $60 billion, to four food tech areas through fiscal year 2040 as part of a wider industrial plan covering 17 strategic sectors. The government expects more than ¥370 trillion in cumulative public-private investment by 2040, with indoor farming receiving the largest portion at ¥4.6 trillion, followed by land-based aquaculture, food machinery, and new foods. The roadmap focuses on health- and sustainability-conscious markets, aiming to capture a 30% share of domestic and international markets for indoor farming by 2040.

The plan also highlights efforts to support export readiness in food machinery, focusing on freshness-preservation technology to extend transport time and distance for Japanese food and fresh produce, with a sales target of ¥3 trillion by 2040. Agriculture, Forestry, and Fisheries Minister Norikazu Suzuki emphasized the importance of practical support to bring the roadmap to fruition, stressing the need for a multifaceted evaluation that includes technology, management ability, overseas orientation, and human networks. The government's investment in food tech aims to drive innovation and growth in the sector while enhancing Japan's presence in global markets.