Iran: Whey Market 2024

Whey Market Size in Iran

In 2022, after two years of decline, there was significant growth in the Iranian whey market, when its value increased by 17% to $X. Over the period under review, consumption, however, showed a slight reduction. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Whey Production in Iran

In value terms, whey production reduced to $X in 2022 estimated in export price. Overall, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 +46.2% against 2018 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by 55%. Whey production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Whey Exports

Exports from Iran

In 2022, shipments abroad of whey decreased by -17.5% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 283% against the previous year. The exports peaked at X tons in 2021, and then contracted sharply in the following year.

In value terms, whey exports declined dramatically to $X in 2022. Overall, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of 169% against the previous year. The exports peaked at $X in 2021, and then fell remarkably in the following year.

Exports by Country

Uzbekistan (X tons) was the main destination for whey exports from Iran, with a 81% share of total exports. Moreover, whey exports to Uzbekistan exceeded the volume sent to the second major destination, Azerbaijan (X tons), more than tenfold. The third position in this ranking was taken by Kazakhstan (X tons), with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Uzbekistan amounted to +24.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Azerbaijan (+39.2% per year) and Kazakhstan (+2.6% per year).

In value terms, Uzbekistan ($X) emerged as the key foreign market for whey exports from Iran, comprising 69% of total exports. The second position in the ranking was held by Azerbaijan ($X), with a 12% share of total exports. It was followed by Kazakhstan, with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Uzbekistan amounted to +25.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Azerbaijan (+53.3% per year) and Kazakhstan (+28.0% per year).

Export Prices by Country

The average whey export price stood at $X per ton in 2022, reducing by -6.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.1%. The pace of growth appeared the most rapid in 2013 an increase of 35%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Azerbaijan ($X per ton), while the average price for exports to Uzbekistan ($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 Armenia (+41.4%), while the prices for the other major destinations experienced more modest paces of growth.

Whey Imports

Imports into Iran

After two years of decline, purchases abroad of whey increased by 3.1% to X tons in 2022. Overall, imports enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 169% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, whey imports reached $X in 2022. In general, imports posted a noticeable expansion. The most prominent rate of growth was recorded in 2019 with an increase of 191%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of whey to Iran, accounting for a 47% share of total imports. Moreover, whey imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Turkey (X tons), sevenfold.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands amounted to +20.6%.

In value terms, the Netherlands ($X) constituted the largest supplier of whey to Iran, comprising 44% of total imports. The second position in the ranking was held by Turkey ($X), with a 10% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands amounted to +14.5%.

Import Prices by Country

In 2022, the average whey import price amounted to $X per ton, increasing by 3.5% against the previous year. Over the period under review, the import price, however, saw a perceptible decline. The pace of growth appeared the most rapid in 2017 an increase of 45%. The import price peaked at $X per ton in 2019; however, from 2020 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 Turkey ($X per ton), while the price for the Netherlands totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+11.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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