Ireland: Whey Market 2024

Whey Market Size in Ireland

In 2022, after two years of decline, there was significant growth in the Irish whey market, when its value increased by 16% to $X. In general, consumption saw a significant increase. Whey consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Whey Production in Ireland

In value terms, whey production expanded remarkably to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible decrease. The pace of growth was the most pronounced in 2018 with an increase of 68%. Whey production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Whey Exports

Exports from Ireland

In 2022, shipments abroad of whey increased by 1.8% to X tons, rising for the eighth consecutive year after two years of decline. In general, exports enjoyed strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 31% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, whey exports reached $X in 2022. Over the period under review, exports recorded a strong increase. The pace of growth appeared the most rapid in 2021 when exports increased by 39%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The UK (X tons), the Netherlands (X tons) and China (X tons) were the main destinations of whey exports from Ireland, together comprising 63% of total exports. Malaysia, Germany, Indonesia, France, Belgium, New Zealand, Spain, Denmark and Oman lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +18.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for whey exported from Ireland were the UK ($X), the Netherlands ($X) and China ($X), with a combined 61% share of total exports. Germany, Malaysia, Spain, France, Indonesia, New Zealand, Belgium, Denmark and Oman lagged somewhat behind, together comprising a further 24%.

Belgium, with a CAGR of +17.3%, recorded the highest rates of growth with regard to the value of exports, among 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, surging by 12% against the previous year. Overall, the export price, however, showed a slight decline. The most prominent rate of growth was recorded in 2013 when the average export price increased by 23% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

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 Spain ($X per ton), while the average price for exports to Oman ($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 (+1.2%), while the prices for the other major destinations experienced a decline.

Whey Imports

Imports into Ireland

In 2022, overseas purchases of whey decreased by 0% to X tons, falling for the third year in a row after two years of growth. Overall, imports continue to indicate a mild expansion. The pace of growth was the most pronounced in 2014 when imports increased by 73% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, whey imports stood at $X in 2022. In general, imports showed prominent growth. The pace of growth was the most pronounced in 2013 when imports increased by 53%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X tons), Germany (X tons) and the UK (X tons) were the main suppliers of whey imports to Ireland, with a combined 82% share of total imports. France and the United States lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +60.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and the UK ($X) constituted the largest whey suppliers to Ireland, together comprising 81% of total imports. The United States and France lagged somewhat behind, together accounting for a further 13%.

In terms of the main suppliers, the United States, with a CAGR of +49.8%, saw 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, remaining stable against the previous year. Overall, the import price posted temperate growth. The most prominent rate of growth was recorded in 2017 an increase of 48%. The import price peaked in 2022 and is likely to see gradual growth in the near future.

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 United States ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+12.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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