Updated Jan 22, 2023 11:14

Whey Market in the United States

Market Overview
The U.S. whey market shrank rapidly to $ in , declining by -% 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 recorded a abrupt slump. Over the period under review, the market hit record highs at $ in 2008; however, from 2009 to , consumption stood at a somewhat lower figure.

In value terms, whey production dropped slightly to $ in . Over the period under review, production, however, saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of % against the previous year. Whey production peaked at $ in 2014; however, from 2015 to , production remained at a lower figure.


Consumption
For the third year in a row, the United States recorded decline in consumption of whey, which decreased by -% to tons in . Over the period under review, consumption saw a drastic downturn. Over the period under review, consumption hit record highs at tons in 2008; however, from 2009 to , consumption failed to regain momentum.

The value of the whey market in the United States dropped rapidly to $ in , reducing by -% 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). Overall, consumption continues to indicate a deep downturn. Over the period under review, the market attained the peak level at $ in 2008; however, from 2009 to , consumption stood at a somewhat lower figure.


Market Forecast
Depressed by shrinking demand for whey in the United States, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Driven by a growing demand, the share of imports in total supply in the United States increased significantly over the last fifteen-year period (from % to %). Total import supply of whey is expected to rise, though it will be moderately impacted by price increases. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports increased moderately ( percentage point) over the period under review.


Trade Balance
The United States remains a net exporter of whey; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.