Brazil: Whey Market 2024

Whey Market Size in Brazil

The Brazilian whey market soared to $X in 2022, growing by 44% 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, continues to indicate a mild decline. Whey consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Whey Exports

Exports from Brazil

In 2022, exports of whey from Brazil expanded slightly to X tons, surging by 3.5% compared with 2021 figures. Over the period under review, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 278%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, whey exports rose slightly to $X in 2022. Overall, exports showed a significant increase. The growth pace was the most rapid in 2017 when exports increased by 310% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

The Philippines (X tons), Paraguay (X tons) and France (X tons) were the main destinations of whey exports from Brazil, with a combined 73% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +1,803.2%), while the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Paraguay ($X) and France ($X) constituted the largest markets for whey exported from Brazil worldwide, together accounting for 76% of total exports.

Among the main countries of destination, the Philippines, with a CAGR of +1,720.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average whey export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period under review, the export price saw a mild decrease. The most prominent rate of growth was recorded in 2017 an increase of 19%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Argentina ($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 Bolivia (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.

Whey Imports

Imports into Brazil

In 2022, imports of whey into Brazil surged to X tons, increasing by 26% against the previous year's figure. Over the period under review, imports, however, saw a noticeable decrease. The growth pace was the most rapid in 2016 when imports increased by 67% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, whey imports skyrocketed to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Argentina (X tons) constituted the largest supplier of whey to Brazil, with a 82% share of total imports. Moreover, whey imports from Argentina exceeded the figures recorded by the second-largest supplier, Uruguay (X tons), more than tenfold. Ireland (X tons) ranked third in terms of total imports with a 5.3% share.

From 2012 to 2022, the average annual growth rate of volume from Argentina was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Uruguay (-8.4% per year) and Ireland (0.0% per year).

In value terms, Argentina ($X) constituted the largest supplier of whey to Brazil, comprising 84% of total imports. The second position in the ranking was held by France ($X), with a 7.3% share of total imports. It was followed by Ireland, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value from Argentina stood at +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-11.1% per year) and Ireland (0.0% per year).

Import Prices by Country

The average whey import price stood at $X per ton in 2022, picking up by 19% against the previous year. Over the period under review, import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, whey import price increased by +108.0% against 2016 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 30%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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