Canada: Whey Market 2024

Whey Market Size in Canada

The Canadian whey market dropped dramatically to $X in 2022, with a decrease of -15.3% against the previous year. Overall, consumption, however, recorded perceptible growth. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Whey Production in Canada

In value terms, whey production reduced modestly to $X in 2022 estimated in export price. In general, production recorded a modest increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by 192%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Whey Exports

Exports from Canada

In 2022, the amount of whey exported from Canada rose significantly to X tons, picking up by 5.9% compared with the previous year's figure. Over the period under review, exports showed a strong increase. The growth pace was the most rapid in 2017 when exports increased by 45% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, whey exports surged to $X in 2022. Overall, total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +34.1% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of 52% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for whey exports from Canada, with a 55% share of total exports. Moreover, whey exports to the United States exceeded the volume sent to the second major destination, the Philippines (X tons), sixfold. Singapore (X tons) ranked third in terms of total exports with an 8.4% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +12.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+14.3% per year) and Singapore (+25.4% per year).

In value terms, the United States ($X) remains the key foreign market for whey exports from Canada, comprising 49% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 10% share of total exports. It was followed by South Korea, with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+13.4% per year) and South Korea (+9.9% per year).

Export Prices by Country

In 2022, the average whey export price amounted to $X per ton, with an increase of 20% against the previous year. In general, the export price, however, recorded a perceptible slump. The export price peaked at $X per ton in 2012; however, from 2013 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 China ($X per ton), while the average price for exports to Singapore ($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 Peru (+1.9%), while the prices for the other major destinations experienced more modest paces of growth.

Whey Imports

Imports into Canada

In 2022, supplies from abroad of whey decreased by -6% to X tons, falling for the second year in a row after four years of growth. In general, imports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2018 when imports increased by 283%. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, whey imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a modest expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 56% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of whey to Canada, with a 90% share of total imports. Moreover, whey imports from the United States exceeded the figures recorded by the second-largest supplier, Australia (X tons), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +4.5%.

In value terms, the United States ($X) constituted the largest supplier of whey to Canada, comprising 91% of total imports. The second position in the ranking was taken by Australia ($X), with a 4.3% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +1.3%.

Import Prices by Country

In 2022, the average whey import price amounted to $X per ton, rising by 54% against the previous year. In general, the import price, however, continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2015 when the average import price increased by 385%. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 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 totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-3.1%).

Source: IndexBox Platform

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