Croatia: Whey Market 2024

Whey Market Size in Croatia

The Croatian whey market reduced to $X in 2022, waning by -8.9% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Whey Production in Croatia

In value terms, whey production expanded markedly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. Over the period under review, production hit record highs in 2022 and is likely to continue growth in years to come.

Whey Exports

Exports from Croatia

In 2022, after two years of growth, there was significant decline in overseas shipments of whey, when their volume decreased by -7.6% to X tons. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 24%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, whey exports totaled $X in 2022. Overall, total exports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.1% 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 +47.1% against 2018 indices. The pace of growth was the most pronounced in 2021 when exports increased by 46%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Serbia (X tons) was the main destination for whey exports from Croatia, accounting for a 58% share of total exports. Moreover, whey exports to Serbia exceeded the volume sent to the second major destination, Greece (X tons), threefold. The Czech Republic (X tons) ranked third in terms of total exports with a 7.8% share.

From 2012 to 2022, the average annual growth rate of volume to Serbia amounted to -4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+41.1% per year) and the Czech Republic (+0.0% per year).

In value terms, Serbia ($X) remains the key foreign market for whey exports from Croatia, comprising 54% of total exports. The second position in the ranking was held by Greece ($X), with an 18% share of total exports. It was followed by the Czech Republic, with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Serbia totaled -3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+40.5% per year) and the Czech Republic (+0.5% per year).

Export Prices by Country

The average whey export price stood at $X per ton in 2022, with an increase of 11% against the previous year. Over the period under review, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, whey export price increased by +94.0% against 2016 indices. The pace of growth appeared the most rapid in 2021 an increase of 39% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bosnia and Herzegovina ($X per ton), while the average price for exports to Serbia ($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 Bosnia and Herzegovina (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Whey Imports

Imports into Croatia

In 2022, purchases abroad of whey decreased by -24.8% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, showed a measured increase. The most prominent rate of growth was recorded in 2015 with an increase of 79% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, whey imports contracted to $X in 2022. Overall, total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -15.7% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 31%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of whey to Croatia, with a 56% share of total imports. Moreover, whey imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. Poland (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+15.2% per year) and Poland (+5.1% per year).

In value terms, Germany ($X) constituted the largest supplier of whey to Croatia, comprising 69% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 15% share of total imports. It was followed by Poland, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+10.4% per year) and Poland (+22.6% per year).

Import Prices by Country

In 2022, the average whey import price amounted to $X per ton, with an increase of 20% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by 25% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+16.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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