United Kingdom: Whey Market 2024

Whey Market Size in the UK

In 2022, the UK whey market increased by 13% to $X, rising for the second consecutive year after two years of decline. Over the period under review, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 +30.0% against 2020 indices. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Whey Production in the UK

In value terms, whey production reduced to $X in 2022 estimated in export price. In general, production, however, showed a abrupt descent. The pace of growth was the most pronounced in 2019 when the production volume increased by 3.9% against the previous year. Whey production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Whey Exports

Exports from the UK

For the third consecutive year, the UK recorded decline in shipments abroad of whey, which decreased by -3.9% to X tons in 2022. In general, exports saw a mild descent. The most prominent rate of growth was recorded in 2014 when exports increased by 79%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, whey exports surged to $X in 2022. Overall, exports, however, saw a moderate expansion. The pace of growth was the most pronounced in 2019 when exports increased by 79%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons) was the main destination for whey exports from the UK, accounting for a 41% share of total exports. Moreover, whey exports to the Netherlands exceeded the volume sent to the second major destination, China (X tons), fourfold. The third position in this ranking was taken by France (X tons), with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands totaled -2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+15.8% per year) and France (-4.1% per year).

In value terms, the Netherlands ($X), Denmark ($X) and China ($X) were the largest markets for whey exported from the UK worldwide, with a combined 48% share of total exports. France, Germany, Ireland, South Africa, the Philippines and Belgium lagged somewhat behind, together accounting for a further 19%.

South Africa, with a CAGR of +82.7%, 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, picking up by 41% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.8%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Denmark ($X per ton), while the average price for exports to Belgium ($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 Denmark (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Whey Imports

Imports into the UK

In 2022, overseas purchases of whey were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports posted a buoyant expansion. The pace of growth was the most pronounced in 2015 with an increase of 61% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, whey imports surged to $X in 2022. In general, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +22.1% against 2020 indices. The pace of growth was the most pronounced in 2013 when imports increased by 52% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Ireland (X tons) constituted the largest supplier of whey to the UK, with a 54% share of total imports. Moreover, whey imports from Ireland exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Ireland amounted to +11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+5.2% per year) and Germany (+1.5% per year).

In value terms, Ireland ($X), the Netherlands ($X) and Germany ($X) appeared to be the largest whey suppliers to the UK, with a combined 82% share of total imports. Norway, France, Italy, Spain and Belgium lagged somewhat behind, together comprising a further 16%.

Italy, with a CAGR of +75.2%, 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

In 2022, the average whey import price amounted to $X per ton, rising by 9.1% against the previous year. Overall, the import price, however, recorded a noticeable decline. The pace of growth appeared the most rapid in 2013 when the average import price increased by 22%. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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