Report Update: May 1, 2024

Estonia - Whey - Market Analysis, Forecast, Size, Trends and Insights

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Whey Price in Estonia - 2023

Whey Price in Estonia (FOB) - 2023

The average whey export price stood at $452 per ton in September 2023, increasing by 32% against the previous month. In general, the export price, however, recorded a noticeable decrease. The growth pace was the most rapid in February 2023 an increase of 37% month-to-month. Over the period under review, the average export prices attained the peak figure at $707 per ton in May 2023; however, from June 2023 to September 2023, the export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was China ($5,789 per ton), while the average price for exports to Latvia ($46.0 per ton) was amongst the lowest.

From November 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+1.9%), while the prices for the other major destinations experienced more modest paces of growth.

Whey Price in Estonia (CIF) - 2023

In September 2023, the average whey import price amounted to $1,618 per ton, growing by 34% against the previous month. In general, the import price enjoyed a temperate increase. The pace of growth was the most pronounced in December 2022 when the average import price increased by 102% against the previous month. As a result, import price attained the peak level of $2,360 per ton. From January 2023 to September 2023, the average import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Italy ($18,244 per ton), while the price for Lithuania ($796 per ton) was amongst the lowest.

From November 2022 to September 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Whey Exports in Estonia

In 2022, after three years of growth, there was decline in overseas shipments of whey, when their volume decreased by -3.4% to 29K tons. The total export volume increased at an average annual rate of +3.5% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 11% against the previous year.

In value terms, whey exports reduced rapidly to $18M in 2022. In general, exports recorded a mild downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 31%.

Export of Whey in Estonia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	5.6	8.3	7.6	5.2	-2.4%
Latvia	0.1	0.5	3.3	4.9	265.9%
Sweden	0.7	0.7	2.9	2.5	52.9%
Denmark	3.9	6.8	6.2	2.2	-17.4%
Poland	0.7	0.9	1.5	0.8	4.6%
Lithuania	1.9	2.0	1.3	0.6	-31.9%
Netherlands	4.2	3.6	1.4	0.5	-50.8%
Others	1.9	2.1	2.0	1.5	-7.6%
Total	19.0	24.9	26.2	18.2	-1.4%

Top Export Markets for Whey from Estonia in 2022:

Latvia (21.5K tons)
Poland (1.8K tons)
Sweden (1.8K tons)
Lithuania (1.4K tons)
China (1.0K tons)
Denmark (0.5K tons)
Netherlands (0.3K tons)

Whey Imports in Estonia

In 2022, purchases abroad of whey decreased by -7.7% to 1.2K tons, falling for the second year in a row after two years of growth. Overall, imports saw a deep downturn. The growth pace was the most rapid in 2020 when imports increased by 4.3%. As a result, imports attained the peak of 1.6K tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, whey imports soared to $2.2M in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Whey in Estonia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
France	723	599	615	769	2.1%
Germany	N/A	220	243	463	45.1%
Finland	107	62.1	83.8	328	45.3%
Latvia	27.4	150	242	290	119.6%
Lithuania	136	385	140	205	14.7%
Netherlands	276	423	472	123	-23.6%
Poland	244	143	57.7	41.1	-44.8%
Others	676	245	89.6	20.4	-68.9%
Total	2,191	2,228	1,944	2,240	0.7%

Top Suppliers of Whey to Estonia in 2022:

France (399.4 tons)
Latvia (206.8 tons)
Finland (190.4 tons)
Germany (145.2 tons)
Lithuania (115.0 tons)
Netherlands (61.8 tons)
Poland (28.7 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the whey market in Estonia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 890 - Whey, Condensed
FCL 900 - Dry Whey

Country coverage:

Estonia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Estonia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023