Eastern Europe: Whey Market 2024

Whey Market Size in Eastern Europe

The East European whey market expanded markedly to $X in 2022, increasing by 12% against the previous year. The total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Whey Production in Eastern Europe

In value terms, whey production soared to $X in 2022 estimated in export price. In general, production, however, recorded a perceptible decline. The pace of growth was the most pronounced in 2017 with an increase of 46%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Whey Exports

Exports in Eastern Europe

In 2022, after three years of growth, there was significant decline in shipments abroad of whey, when their volume decreased by -5.4% to X tons. The total export volume increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 28%. Over the period under review, the exports attained the maximum at X tons in 2021, and then fell in the following year.

In value terms, whey exports stood at $X in 2022. Total exports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.5% 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 +29.5% against 2017 indices. The pace of growth was the most pronounced in 2017 when exports increased by 40%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

In 2022, Poland (X tons), distantly followed by Belarus (X tons), Latvia (X tons), the Czech Republic (X tons), Lithuania (X tons) and Estonia (X tons) represented the main exporters of whey, together constituting 88% of total exports. The following exporters - Hungary (X tons) and Slovakia (X tons) - each reached a 6% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of +27.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) remains the largest whey supplier in Eastern Europe, comprising 43% of total exports. The second position in the ranking was taken by Belarus ($X), with a 21% share of total exports. It was followed by the Czech Republic, with an 11% share.

In Poland, whey exports increased at an average annual rate of +1.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Belarus (+4.4% per year) and the Czech Republic (+0.9% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, surging by 7.1% against the previous year. Over the period under review, the export price, however, saw a slight setback. The most prominent rate of growth was recorded in 2017 an increase of 36% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hungary ($X per ton), while Latvia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+4.7%), while the other leaders experienced more modest paces of growth.

Whey Imports

Imports in Eastern Europe

In 2022, overseas purchases of whey increased by 5.1% to X tons, rising for the fourth consecutive year after two years of decline. Total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +63.4% against 2018 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 26% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, whey imports shrank modestly to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 35% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the five major importers of whey, namely Poland, the Czech Republic, Lithuania, Russia and Slovakia, represented more than two-thirds of total import. Bulgaria (X tons) and Latvia (X tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Lithuania (with a CAGR of +44.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Russia ($X) and the Czech Republic ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 63% of total imports. Bulgaria, Lithuania, Slovakia and Latvia lagged somewhat behind, together comprising a further 24%.

Lithuania, with a CAGR of +18.8%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, falling by -8.1% against the previous year. Over the period under review, the import price recorded a pronounced shrinkage. The pace of growth appeared the most rapid in 2017 when the import price increased by 33% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bulgaria ($X per ton), while Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :