Canada: Whey Market 2023

Whey Market Size in Canada

The Canadian whey market totaled $X in 2021, picking up by 15% against the previous year. Over the period under review, consumption recorded a remarkable increase. Whey consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Whey Production in Canada

In value terms, whey production expanded modestly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a modest expansion. The pace of growth was the most pronounced in 2014 when the production volume increased by 192% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Whey Exports

Exports from Canada

In 2021, the amount of whey exported from Canada fell to X tons, which is down by -10.6% compared with the previous year. Over the period under review, exports, however, recorded resilient growth. The growth pace was the most rapid in 2017 when exports increased by 45%. Over the period under review, the exports reached the peak figure at X tons in 2020, and then dropped in the following year.

In value terms, whey exports rose notably to $X in 2021. In general, total exports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +5.3% against 2017 indices. The growth pace was the most rapid in 2017 when exports increased by 52%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for whey exports from Canada, accounting for a 59% share of total exports. Moreover, whey exports to the United States exceeded the volume sent to the second major destination, South Korea (X tons), sixfold. The third position in this ranking was taken by the Philippines (X tons), with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +14.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+12.8% per year) and the Philippines (+15.9% per year).

In value terms, the United States ($X) remains the key foreign market for whey exports from Canada, comprising 50% of total exports. The second position in the ranking was held by South Korea ($X), with a 14% share of total exports. It was followed by the Philippines, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+12.4% per year) and the Philippines (+12.6% per year).

Export Prices by Country

In 2021, the average whey export price amounted to $X per ton, growing by 19% against the previous year. Over the period under review, the export price, however, continues to indicate a deep setback. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Peru ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Peru (-0.2%), while the prices for the other major destinations experienced a decline.

Whey Imports

Imports into Canada

In 2021, after four years of growth, there was decline in purchases abroad of whey, when their volume decreased by -2.9% to X tons. Overall, imports, however, posted a strong increase. The pace of growth appeared the most rapid in 2018 when imports increased by 282% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, whey imports stood at $X in 2021. In general, imports continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2013 with an increase of 56% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) was the main supplier of whey to Canada, with a 94% share of total imports. Moreover, whey imports from the United States exceeded the figures recorded by the second-largest supplier, Australia (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from the United States amounted to +6.4%.

In value terms, the United States ($X) constituted the largest supplier of whey to Canada, comprising 93% of total imports. The second position in the ranking was held by Australia ($X), with a 3.2% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States stood at -2.4%.

Import Prices by Country

In 2021, the average whey import price amounted to $X per ton, surging by 16% against the previous year. Overall, the import price, however, saw a abrupt downturn. The pace of growth was the most pronounced in 2015 when the average import price increased by 383% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Australia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (-5.2%).

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :