Report Update Nov 1, 2024

Sri Lanka - Whey - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Whey Market 2024

Whey Market Size in Sri Lanka

The Sri Lankan whey market reduced sharply to $X in 2022, waning by -21.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate modest growth. As a result, consumption attained the peak level of $X, and then declined notably in the following year.

Whey Exports

Exports from Sri Lanka

For the third year in a row, Sri Lanka recorded growth in shipments abroad of whey, which increased by 36% to X tons in 2022. In general, exports saw a pronounced expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 428%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, whey exports surged to $X in 2022. Over the period under review, exports recorded resilient growth. The most prominent rate of growth was recorded in 2020 when exports increased by 535% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for whey exports from Sri Lanka, with a 93% share of total exports. Moreover, whey exports to Germany exceeded the volume sent to the second major destination, Slovenia (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Germany stood at +21.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+53.1% per year) and Maldives (+67.4% per year).

In value terms, Germany ($X) remains the key foreign market for whey exports from Sri Lanka, comprising 72% of total exports. The second position in the ranking was taken by Slovenia ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Germany totaled +19.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+75.6% per year) and Maldives (+138.7% per year).

Export Prices by Country

The average whey export price stood at $X per ton in 2022, approximately reflecting the previous year. Overall, the export price, however, continues to indicate moderate growth. The growth pace was the most rapid in 2013 when the average export price increased by 109%. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to Germany ($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 Maldives (+42.6%), while the prices for the other major destinations experienced more modest paces of growth.

Whey Imports

Imports into Sri Lanka

In 2022, imports of whey into Sri Lanka contracted significantly to X tons, dropping by -29.2% against the previous year's figure. Over the period under review, imports, however, saw perceptible growth. The growth pace was the most rapid in 2021 with an increase of 127% against the previous year. As a result, imports attained the peak of X tons, and then reduced dramatically in the following year.

In value terms, whey imports contracted dramatically to $X in 2022. Overall, imports, however, saw a modest increase. The growth pace was the most rapid in 2021 with an increase of 134%. As a result, imports reached the peak of $X, and then declined rapidly in the following year.

Imports by Country

Poland (X tons), Canada (X tons) and New Zealand (X tons) were the main suppliers of whey imports to Sri Lanka, together comprising 88% of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +46.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), Canada ($X) and Poland ($X) appeared to be the largest whey suppliers to Sri Lanka, together comprising 81% of total imports.

Poland, with a CAGR of +36.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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, rising by 18% against the previous year. Overall, the import price, however, saw a mild reduction. The growth pace was the most rapid in 2019 an increase of 23%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 France ($X per ton), while the price for Poland ($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 United States (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for whey in the world?

The countries with the highest volumes of whey consumption in 2021 were China, the Netherlands and France, with a combined 39% share of global consumption. These countries were followed by Germany, Italy, Denmark, Indonesia, the Czech Republic, Malaysia, the UK, Australia, Poland and Thailand, which together accounted for a further 36%.

What are the largest producers of whey in the world?

The countries with the highest volumes of whey production in 2021 were France, the United States and Italy, together accounting for 39% of global production. These countries were followed by Germany, the Netherlands, Poland, Belgium, Belarus, the Czech Republic, Ireland, Australia, the UK and Argentina, which together accounted for a further 41%.

What are the leading suppliers of whey to Sri Lanka?

In value terms, the largest whey suppliers to Sri Lanka were Canada, Poland and New Zealand, with a combined 66% share of total imports.

What are the leading importers of whey from Sri Lanka?

In value terms, Germany remains the key foreign market for whey exports from Sri Lanka.

What is the average export price for whey in Sri Lanka?

In 2021, the average whey export price amounted to $2,300 per ton, declining by -13.9% against the previous year.

What is the average import price for whey in Sri Lanka?

The average whey import price stood at $980 per ton in 2021, standing approx. at the previous year.

This report provides an in-depth analysis of the whey market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 890 - Whey, Condensed
FCL 900 - Dry Whey

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023