Denmark: Whey Market 2024

Whey Market Size in Denmark

The Danish whey market amounted to $X in 2022, standing approx. at the previous year. Overall, consumption, however, posted a strong increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Whey Production in Denmark

In value terms, whey production skyrocketed to $X in 2022 estimated in export price. Overall, production continues to indicate a significant increase. The growth pace was the most rapid in 2021 when the production volume increased by 282%. Whey production peaked in 2022 and is likely to see gradual growth in the immediate term.

Whey Exports

Exports from Denmark

Whey exports from Denmark declined notably to X tons in 2022, with a decrease of -21.1% on the previous year. In general, total exports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -31.8% against 2018 indices. The most prominent rate of growth was recorded in 2015 with an increase of 48%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, whey exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when exports increased by 25%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Estonia (X tons), Germany (X tons) and the Netherlands (X tons) were the main destinations of whey exports from Denmark, with a combined 28% 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 Estonia (with a CAGR of +123.3%), while the other leaders experienced a decline.

In value terms, Germany ($X), Estonia ($X) and the Netherlands ($X) constituted the largest markets for whey exported from Denmark worldwide, together accounting for 5.3% of total exports.

Estonia, with a CAGR of +112.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average whey export price amounted to $X per ton, increasing by 52% against the previous year. In general, export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Estonia ($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 Germany (+10.4%), while the prices for the other major destinations experienced mixed trend patterns.

Whey Imports

Imports into Denmark

After five years of growth, supplies from abroad of whey decreased by -19.4% to X tons in 2022. In general, imports, however, saw buoyant growth. The pace of growth appeared the most rapid in 2017 when imports increased by 83%. Over the period under review, imports reached the maximum at X tons in 2021, and then declined notably in the following year.

In value terms, whey imports declined slightly to $X in 2022. Over the period under review, imports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2020 with an increase of 24% against the previous year. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, Sweden (X tons) constituted the largest whey supplier to Denmark, accounting for a 56% share of total imports. Moreover, whey imports from Sweden exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was held by the Netherlands (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Sweden totaled +15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+16.3% per year) and the Netherlands (+24.1% per year).

In value terms, the largest whey suppliers to Denmark were Germany ($X), the Netherlands ($X) and Sweden ($X), together accounting for 85% of total imports. Norway, Poland, Ireland and France lagged somewhat behind, together comprising a further 12%.

Among the main suppliers, Poland, with a CAGR of +25.9%, recorded the highest rates of growth with regard to the value of imports, 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, with an increase of 23% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt curtailment. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a 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 the Netherlands ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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