Europe: Whey Market 2024

Whey Market Size in Europe

The Europe whey market expanded sharply to $X in 2022, growing by 14% against the previous year. The total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +10.7% against 2019 indices. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Whey Production in Europe

In value terms, whey production surged to $X in 2022 estimated in export price. The total production indicated a moderate increase from 2012 to 2022: its value 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, production increased by +67.0% against 2019 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Whey Exports

Exports in Europe

After two years of growth, shipments abroad of whey decreased by -6.8% to X tons in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 8.4%. The volume of export peaked at X tons in 2021, and then declined in the following year.

In value terms, whey exports rose remarkably to $X in 2022. Total exports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.4% 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 +71.0% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 28% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Exports by Country

In 2022, Germany (X tons), followed by the Netherlands (X tons), France (X tons), Italy (X tons), Poland (X tons), Belgium (X tons), Ireland (X tons) and Austria (X tons) were the main exporters of whey, together generating 71% of total exports. Belarus (X tons), Sweden (X tons), Latvia (X tons), Spain (X tons) and the Czech Republic (X tons) followed a long way behind the leaders.

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, Germany ($X), France ($X) and the Netherlands ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 47% of total exports. Ireland, Italy, Poland, Austria, Belarus, Spain, the Czech Republic, Belgium, Latvia and Sweden lagged somewhat behind, together accounting for a further 39%.

Latvia, with a CAGR of +8.7%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Europe amounted to $X per ton, rising by 14% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the export price increased by 18%. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+10.2%), while the other leaders experienced more modest paces of growth.

Whey Imports

Imports in Europe

After three years of growth, overseas purchases of whey decreased by -1.6% to X tons in 2022. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 10% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, whey imports reached $X in 2022. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 24%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X tons) and Germany (X tons) represented roughly 52% of total imports in 2022. France (X tons) held the next position in the ranking, followed by Denmark (X tons) and Italy (X tons). All these countries together held approx. 20% share of total imports. The following importers - Poland (X tons), the Czech Republic (X tons), Lithuania (X tons), Belgium (X tons), the UK (X tons), Russia (X tons), Slovakia (X tons) and Austria (X tons) - together made up 21% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main 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, the Netherlands ($X) constitutes the largest market for imported whey in Europe, comprising 32% of total imports. The second position in the ranking was taken by Germany ($X), with a 14% share of total imports. It was followed by France, with a 12% share.

In the Netherlands, whey imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (-0.4% per year) and France (-0.1% per year).

Import Prices by Country

The import price in Europe stood at $X per ton in 2022, surging by 10% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the import price increased by 21%. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in years to come.

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 the UK ($X per ton), while Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform