Report Update: Apr 1, 2024

Sri Lanka - Whey - Market Analysis, Forecast, Size, Trends and Insights

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Whey Price in Sri Lanka - 2021

Whey Price in Sri Lanka (CIF) - 2022

In 2022, the average whey import price amounted to $1,189 per ton, jumping by 18% against the previous year. Over the period under review, the import price, however, saw a mild slump. The pace of growth was the most pronounced in 2019 an increase of 23% against the previous year. Over the period under review, average import prices attained the maximum at $1,359 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($2,084 per ton), while the price for Poland ($699 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Whey Price in Sri Lanka (FOB) - 2022

In 2022, the average whey export price amounted to $1,970 per ton, leveling off at the previous year. Over the period under review, the export price, however, showed notable growth. The growth pace was the most rapid in 2013 an increase of 109% against the previous year. The export price peaked at $3,545 per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Maldives ($17,388 per ton), while the average price for exports to Germany ($1,516 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Maldives (+42.6%), while the prices for the other major destinations experienced more modest paces of growth.

Whey Imports in Sri Lanka

In 2022, the amount of whey imported into Sri Lanka contracted significantly to 1.9K tons, which is down by -29.2% against 2021. Overall, imports, however, enjoyed a strong expansion. The growth pace was the most rapid in 2021 with an increase of 127% against the previous year. As a result, imports attained the peak of 2.7K tons, and then shrank markedly in the following year.

In value terms, whey imports dropped rapidly to $2.3M in 2022. In general, imports, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of 134% against the previous year. As a result, imports attained the peak of $2.7M, and then shrank sharply in the following year.

Import of Whey in Sri Lanka (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
New Zealand	163	58.3	401	720	64.1%
Canada	580	524	1,094	656	4.2%
Poland	13.4	12.2	19.9	478	229.2%
France	197	162	327	259	9.5%
United States	12.1	9.0	11.2	151	132.0%
Others	376	407	886	18.9	-63.1%
Total	1,341	1,172	2,739	2,283	19.4%

Top Suppliers of Whey to Sri Lanka in 2022:

Poland (684.3 tons)
Canada (630.0 tons)
New Zealand (373.5 tons)
France (124.5 tons)
United States (100.0 tons)

Whey Exports in Sri Lanka

For the fourth year in a row, Sri Lanka recorded growth in overseas shipments of whey, which increased by 36% to 23 tons in 2022. In general, exports recorded a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 218%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, whey exports skyrocketed to $45K in 2022. Overall, exports showed a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 535% against the previous year. As a result, the exports attained the peak of $57K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Export of Whey in Sri Lanka (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	8.7	23.6	25.1	32.2	54.7%
Slovenia	N/A	N/A	2.6	6.7	157.7%
Maldives	0.2	0.5	4.7	6.0	210.7%
South Africa	N/A	32.4	N/A	N/A	0%
Others	N/A	N/A	0.7	N/A	0%
Total	8.9	56.6	33.2	44.9	71.5%

Top Export Markets for Whey from Sri Lanka in 2022:

Germany (21.2 tons)
Slovenia (1.2 tons)
Maldives (0.3 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the whey market in Sri Lanka. 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:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
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