Report Update: Apr 1, 2024

U.S. - Whey - Market Analysis, Forecast, Size, Trends and Insights

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Whey Price in the United States - 2023

Whey Price in the United States (FOB) - 2023

The average whey export price stood at $1,071 per ton in September 2023, growing by 3.6% against the previous month. In general, the export price, however, saw a mild setback. The growth pace was the most rapid in November 2022 an increase of 9.3% month-to-month. As a result, the export price reached the peak level of $1,434 per ton. From December 2022 to September 2023, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Japan ($1,531 per ton), while the average price for exports to Vietnam ($637 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+1.5%), while the prices for the other major destinations experienced a decline.

Whey Price in the United States (CIF) - 2023

The average whey import price stood at $2,507 per ton in September 2023, which is down by -8.9% against the previous month. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 53% m-o-m. Over the period under review, average import prices reached the peak figure at $3,227 per ton in February 2023; however, from March 2023 to September 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Denmark ($11,144 per ton), while the price for Germany ($960 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Denmark (-0.4%), while the prices for the other major suppliers experienced a decline.

Whey Exports in the United States

For the fourth year in a row, the United States recorded growth in overseas shipments of whey, which increased by 12% to 614K tons in 2022. The total export volume increased at an average annual rate of +14.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 25%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, whey exports skyrocketed to $822M in 2022. Overall, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +17.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +61.1% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 20%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Export of Whey in the United States (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	111	203	267	299	39.1%
Mexico	67.6	46.7	66.9	78.7	5.2%
Canada	38.9	39.7	46.4	65.1	18.7%
Indonesia	26.6	34.9	38.7	54.8	27.2%
Japan	35.8	38.6	40.9	54.4	15.0%
Philippines	38.0	32.9	36.0	42.0	3.4%
Vietnam	15.9	22.2	33.9	30.3	24.0%
South Korea	14.6	14.0	20.6	25.7	20.7%
Malaysia	12.3	11.8	12.7	19.3	16.2%
Thailand	13.8	13.1	16.4	15.0	2.8%
New Zealand	28.9	29.9	22.5	6.9	-38.0%
Others	107	95.7	95.9	130	6.7%
Total	510	582	698	822	17.2%

Top Export Markets for Whey from the United States in 2022:

China (297.6K tons)
Canada (50.2K tons)
Mexico (39.9K tons)
Vietnam (33.3K tons)
Indonesia (33.2K tons)
Philippines (31.9K tons)
Japan (18.1K tons)
South Korea (16.6K tons)
Malaysia (13.5K tons)
Thailand (9.3K tons)
New Zealand (5.0K tons)

Whey Imports in the United States

In 2022, whey imports into the United States was estimated at 23K tons, increasing by 2.1% compared with the year before. Over the period under review, imports, however, saw a slight setback. The pace of growth appeared the most rapid in 2021 with an increase of 5%.

In value terms, whey imports soared to $56M in 2022. Overall, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +8.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +71.5% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 36% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Import of Whey in the United States (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Canada	28.3	20.4	25.1	30.5	2.5%
Denmark	10.4	10.4	14.9	18.1	20.3%
Ireland	N/A	N/A	1.3	4.8	269.2%
Germany	4.0	0.7	0.1	0.5	-50.0%
Others	0.5	0.8	2.8	1.7	50.4%
Total	43.3	32.5	44.2	55.7	8.8%

Top Suppliers of Whey to the United States in 2022:

Canada (19.8K tons)
Denmark (1.8K tons)
Ireland (0.4K tons)
Germany (0.3K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the whey market in the U.S.. 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:

United States

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the U.S.
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