Slovakia: Whey Market 2024

Whey Market Size in Slovakia

The Slovak whey market declined to $X in 2022, with a decrease of -6.9% against the previous year. In general, consumption enjoyed a slight expansion. Whey consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Whey Production in Slovakia

In value terms, whey production soared to $X in 2022 estimated in export price. In general, production, however, saw a significant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 268%. Over the period under review, production attained the peak level in 2022 and is expected to retain growth in the near future.

Whey Exports

Exports from Slovakia

In 2022, approx. X tons of whey were exported from Slovakia; rising by 22% compared with 2021. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 27% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, whey exports expanded significantly to $X in 2022. Over the period under review, total exports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.8% 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 +141.9% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of 37%. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

The Czech Republic (X tons), Poland (X tons) and Bulgaria (X tons) were the main destinations of whey exports from Slovakia, with a combined 81% share of total exports. Romania, the Netherlands, Serbia and Greece lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Romania (with a CAGR of +40.1%), while the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Poland ($X) and Bulgaria ($X) constituted the largest markets for whey exported from Slovakia worldwide, together accounting for 69% of total exports. Romania, Serbia, the Netherlands and Greece lagged somewhat behind, together accounting for a further 23%.

Among the main countries of destination, Romania, with a CAGR of +41.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average whey export price stood at $X per ton in 2022, shrinking by -8.9% against the previous year. Overall, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, whey export price increased by +27.1% against 2020 indices. The growth pace was the most rapid in 2017 when the average export price increased by 53%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to the Czech Republic ($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 Greece (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Whey Imports

Imports into Slovakia

For the fourth consecutive year, Slovakia recorded growth in supplies from abroad of whey, which increased by 51% to X tons in 2022. Over the period under review, imports posted a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 146% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, whey imports expanded notably to $X in 2022. In general, imports recorded strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by 88% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, the Czech Republic (X tons) constituted the largest whey supplier to Slovakia, with a 82% share of total imports. Moreover, whey imports from the Czech Republic exceeded the figures recorded by the second-largest supplier, Germany (X tons), eightfold. Austria (X tons) ranked third in terms of total imports with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Czech Republic amounted to +36.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.6% per year) and Austria (+39.2% per year).

In value terms, the Czech Republic ($X) constituted the largest supplier of whey to Slovakia, comprising 46% of total imports. The second position in the ranking was taken by Germany ($X), with a 20% share of total imports. It was followed by Austria, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Czech Republic stood at +12.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.7% per year) and Austria (+38.9% per year).

Import Prices by Country

In 2022, the average whey import price amounted to $X per ton, waning by -23.7% against the previous year. Over the period under review, the import price faced a abrupt decrease. The pace of growth was the most pronounced in 2015 when the average import price increased by 27% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (-0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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