Global Whey Market 2023

Whey Market Size

The global whey market expanded sharply to $X in 2021, with an increase of 8.8% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. Global consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Whey Production

In value terms, whey production reached $X in 2021 estimated in export price. In general, production, however, showed a mild decrease. The most prominent rate of growth was recorded in 2017 with an increase of 21% against the previous year. Global production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Whey Exports

Exports

In 2021, shipments abroad of whey increased by 5.1% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 8.9% against the previous year. Over the period under review, the global exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, whey exports surged to $X in 2021. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 26%. The global exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) and Germany (X tons) represented roughly 29% of total exports in 2021. France (X tons) held a 9% share (based on physical terms) of total exports, which put it in second place, followed by Italy (8.3%), the Netherlands (7.3%) and Poland (5.9%). Belgium (X tons), Ireland (X tons), Belarus (X tons), Austria (X tons), Turkey (X tons), Latvia (X tons) and Canada (X tons) held a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Latvia (with a CAGR of +29.6%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest whey supplying countries worldwide were the United States ($X), Germany ($X) and France ($X), together accounting for 43% of global exports. The Netherlands, Italy, Ireland, Poland, Belarus, Austria, Turkey, Belgium, Canada and Latvia lagged somewhat behind, together comprising a further 36%.

Turkey, with a CAGR of +17.8%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average whey export price stood at $X per ton in 2021, rising by 12% against the previous year. Over the period under review, the export price, however, showed a slight shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 19% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Ireland ($X per ton), while Latvia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+9.1%), while the other global leaders experienced more modest paces of growth.

Whey Imports

Imports

In 2021, purchases abroad of whey increased by 7.9% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 8.4% against the previous year. Over the period under review, global imports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

In value terms, whey imports soared to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 26%. Global imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons), Germany (X tons) and the Netherlands (X tons) was the main importer of whey in the world, mixing up 47% of total import. It was distantly followed by France (X tons), mixing up a 5.7% share of total imports. Denmark (X tons), Indonesia (X tons), Poland (X tons), Malaysia (X tons), Italy (X tons), Belgium (X tons), Vietnam (X tons), Thailand (X tons) and the Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Poland (with a CAGR of +24.3%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest whey importing markets worldwide were China ($X), the Netherlands ($X) and Germany ($X), with a combined 43% share of global imports. France, Indonesia, Malaysia, Denmark, Thailand, Belgium, the Philippines, Italy, Vietnam and Poland lagged somewhat behind, together comprising a further 27%.

In terms of the main importing countries, Poland, with a CAGR of +13.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average whey import price amounted to $X per ton, increasing by 11% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by 17%. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Indonesia ($X per ton), while Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+3.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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