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Spain - Whey - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

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

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Jan 31, 2023

Spain's Whey Price Bottoms at $1,411 per Ton

Spain Whey Export Price in October 2022

In October 2022, the whey price amounted to $1,411 per ton (FOB, Spain), with a decrease of -9.9% against the previous month. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2022 when the average export price increased by 14% m-o-m. Over the period under review, the average export prices attained the peak figure at $2,101 per ton in June 2022; however, from July 2022 to October 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In October 2022, the country with the highest price was China ($3,858 per ton), while the average price for exports to the Netherlands ($958 per ton) was amongst the lowest.

From January 2022 to October 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+1.7%), while the prices for the other major destinations experienced more modest paces of growth.

Spain Whey Exports

After two months of growth, overseas shipments of whey decreased by -4.3% to 4.9K tons in October 2022. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in April 2022 with an increase of 50% month-to-month. As a result, the exports attained the peak of 6.3K tons. From May 2022 to October 2022, the growth of the exports failed to regain momentum.

In value terms, whey exports fell to $6.8M (IndexBox estimates) in October 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in April 2022 when exports increased by 72% against the previous month. As a result, the exports reached the peak of $12M. From May 2022 to October 2022, the growth of the exports failed to regain momentum.

Spain Whey Exports by Country

France (1.6K tons), the Netherlands (832 tons) and Vietnam (744 tons) were the main destinations of whey exports from Spain, together comprising 65% of total exports.

From January 2022 to October 2022, the biggest increases were in Vietnam (with a CAGR of +6.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($1.9M), China ($1.4M) and Vietnam ($891K) appeared to be the largest markets for whey exported from Spain worldwide, together comprising 60% of total exports.

In terms of the main countries of destination, Vietnam, with a CAGR of +6.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Factors Affecting Whey Prices

Whey is used in a variety of products, including baby formula, sports drinks, and protein powders. The increase in demand for these products has led to an increase in price. In addition, many European countries have reduced their production of whey due to environmental regulations. This has further contributed to the price increases seen in Spain.

The type of whey is the most important factor in determining price. Whey protein isolate, which is the purest form of whey protein available, commands the highest prices due to its superior quality. Whey protein concentrate is the next highest quality product and is usually priced at a discount to isolate. Finally, there are lower quality wheys known as hydrolysates or peptides that are typically used by bodybuilders and athletes who are looking for a quick boost of amino acids after a workout. These products are usually priced at a significant discount to isolates and concentrates.

The fat content of whey also plays a role in determining price. Wheys with higher fat contents will generally be cheaper than those with lower fat contents because they are not as highly purified. For example, a 80%whey protein concentrate will be less expensive than a 90%whey protein concentrate because it contains more impurities.

Source: IndexBox Market Intelligence Platform

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

  • Spain

Data coverage:

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

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 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. 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. 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. 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. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 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

  12. 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

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