Bangladesh: Whey Market 2024

Whey Market Size in Bangladesh

The Bangladeshi whey market dropped to $X in 2022, reducing by -7.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a remarkable increase. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Whey Exports

Exports from Bangladesh

After six years of growth, overseas shipments of whey decreased by -33.2% to X tons in 2022. Over the period under review, exports saw a abrupt downturn. The pace of growth appeared the most rapid in 2021 with an increase of 235% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, whey exports reduced dramatically to $X in 2022. In general, exports showed a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of 195% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons) and Italy (X tons) were the main destinations of whey exports from Bangladesh, with a combined 75% share of total exports. Kuwait, Greece, Qatar, Malaysia, the UK, the United States, Brunei Darussalam, Singapore and Bahrain lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Qatar (with a CAGR of +17.7%), while the other leaders experienced more modest paces of growth.

In value terms, Greece ($X), Saudi Arabia ($X) and the United Arab Emirates ($X) constituted the largest markets for whey exported from Bangladesh worldwide, together comprising 76% of total exports.

Among the main countries of destination, Greece, with a CAGR of +10.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average whey export price amounted to $X per ton, remaining constant against the previous year. Overall, the export price, however, recorded a deep contraction. The pace of growth was the most pronounced in 2018 an increase of 35% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to Qatar ($X 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 Singapore (+0.0%), while the prices for the other major destinations experienced a decline.

Whey Imports

Imports into Bangladesh

Whey imports into Bangladesh declined slightly to X tons in 2022, falling by -1.8% against the previous year's figure. In general, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2014 when imports increased by 79%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, whey imports dropped to $X in 2022. Over the period under review, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 94%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Turkey (X tons), the Czech Republic (X tons) and Poland (X tons) were the main suppliers of whey imports to Bangladesh, together comprising 66% of total imports. Canada, Australia, Ukraine, the United States and Germany lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +44.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest whey suppliers to Bangladesh were Turkey ($X), the Czech Republic ($X) and Poland ($X), together accounting for 66% of total imports. Canada, the United States, Ukraine, Australia and Germany lagged somewhat behind, together comprising a further 18%.

Australia, with a CAGR of +33.7%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average whey import price stood at $X per ton in 2022, falling by -7.4% against the previous year. Over the period under review, the import price continues to indicate a mild curtailment. The pace of growth was the most pronounced in 2017 an increase of 27% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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