CIS: Whey Market 2024

Whey Market Size in CIS

In 2022, the CIS whey market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a noticeable decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Whey Production in CIS

In value terms, whey production declined modestly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 77% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Whey Exports

Exports in CIS

After three years of growth, shipments abroad of whey decreased by -11.3% to X tons in 2022. Total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 74%. The volume of export peaked at X tons in 2021, and then contracted in the following year.

In value terms, whey exports reached $X in 2022. In general, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 42% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

Belarus dominates exports structure, recording X tons, which was approx. 91% of total exports in 2022. It was distantly followed by Russia (X tons), generating an 8% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to whey exports from Belarus stood at +5.7%. At the same time, Russia (+28.0%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +28.0% from 2012-2022. From 2012 to 2022, the share of Russia increased by +6.7 percentage points.

In value terms, Belarus ($X) remains the largest whey supplier in the CIS, comprising 92% of total exports. The second position in the ranking was held by Russia ($X), with a 7.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Belarus totaled +4.4%.

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per ton, surging by 15% against the previous year. Over the period under review, the export price, however, showed a mild contraction. The pace of growth was the most pronounced in 2017 an increase of 42%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while Russia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+0.1%).

Whey Imports

Imports in CIS

In 2022, purchases abroad of whey was finally on the rise to reach X tons after two years of decline. In general, imports, however, showed a deep downturn. The most prominent rate of growth was recorded in 2019 with an increase of 32%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, whey imports totaled $X in 2022. Over the period under review, imports, however, continue to indicate a deep slump. The pace of growth appeared the most rapid in 2019 when imports increased by 51%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Russia (X tons) represented the main importer of whey, mixing up 69% of total imports. It was distantly followed by Kazakhstan (X tons) and Uzbekistan (X tons), together creating a 23% share of total imports. The following importers - Azerbaijan (X tons), Kyrgyzstan (X tons) and Belarus (X tons) - each reached a 6% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to whey imports into Russia stood at -10.4%. At the same time, Kyrgyzstan (+30.0%), Uzbekistan (+21.8%), Azerbaijan (+19.9%), Kazakhstan (+9.3%) and Belarus (+5.4%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +30.0% from 2012-2022. From 2012 to 2022, the share of Uzbekistan, Kazakhstan, Azerbaijan and Kyrgyzstan increased by +11, +9.9, +2.1 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported whey in the CIS, comprising 58% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with an 18% share of total imports. It was followed by Uzbekistan, with a 13% share.

In Russia, whey imports shrank by an average annual rate of -10.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kazakhstan (+6.3% per year) and Uzbekistan (+29.9% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, shrinking by -3.3% against the previous year. Import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.6% 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 +18.5% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 51%. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Azerbaijan ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :