Whey market in Eastern Asia

Earlier Report Observations

The whey market in Eastern Asia experienced significant volume fluctuations from 2018 to 2023, starting at 659.7 thousand tonnes. Initially, the market relied heavily on imported whey for deep-processing, while domestic dairy policies aimed at revitalizing the industry through genetic improvement and scaled farming began to increase local production.

Market volume grew sharply to 824.6 thousand tonnes by 2021, driven primarily by heightened health and protein awareness during the COVID-19 pandemic, which boosted demand for protein-fortified beverages and functional foods. This surge was further supported by the national infant formula improvement plan, raising whey usage in domestic production. However, renewed COVID-19 outbreaks in 2022 led to a consumption drop and raw milk oversupply, causing the market to contract to 708.8 thousand tonnes.

A recovery to 756.1 thousand tonnes occurred in 2023 as post-pandemic consumer confidence returned and feed costs began to ease. Ongoing industry efforts in product innovation, market diversification, and strengthened quality and safety oversight contributed to a more stabilized supply chain.

Production whey in Eastern Asia

In kind, 2017-2020, K t

Top producers of whey, 2017-2020

World map of production of whey, 2017-2020

Whey production in Eastern Asia has increased for the third consecutive year. In 2020, the region produced 15.6 K t of whey, marking a 7.0% rise compared to the previous year. Over the period from 2017 to 2020, production grew by 12.6%, with an average annual growth rate of 4.0%.

Annual dynamics of production in Eastern Asia in kind, 2017-2020, K t

Exports whey from Eastern Asia

Exports in kind, K t

The market exhibited significant volatility during these years. Exports reached their lowest point in 2017 and peaked in 2018, showing a six-fold difference between these two years. In 2020, Eastern Asia exported 1.0 K t of whey, which represents a 29.4% decrease from 2019. The highest export volume was recorded in 2018 at 1.8 K t, with the largest increase occurring that same year at 495.1%.

Annual dynamics of product's exports from Eastern Asia in kind, 2017-2020, K t

From 2017 to 2020, the export structure in kind was balanced rather than concentrated. Singapore accounted for 39.0% of exports in kind, Estonia for 4.0%, and Italy for 3.7%, together making up 46.7% of total flows. The remaining 53.3% was distributed among many other countries.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Eastern Asia in kind, 2017-2020

Exports in value, M $ US

The market showed considerable volatility during this period. Exports hit their lowest point in 2017 and reached their peak in 2018, with a 5.8-fold difference between these years. In 2020, Eastern Asia exported 2.0 M $ US worth of whey, up by 2.3% compared to the previous year. The maximum value was recorded in 2018 at 2.5 M $ US. The largest decline occurred in 2019 at 24.1%, while the largest increase was in 2018 at 475.8%.

Annual dynamics of product's exports from Eastern Asia in value, 2017-2020, M $ US

The export market in value terms was broad from 2017 to 2020. Singapore represented 18.2% of exports in value terms, Italy 5.6%, and Estonia 2.3%, together accounting for just 26.2% of total flows. The remaining 73.8% was shared by numerous other countries.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Eastern Asia in value, 2017-2020

Imports whey to Eastern Asia

Imports in kind, K t

In 2020, foreign whey supplies to Eastern Asia stood at 709.2 K t, reflecting a sharp increase of 30.4% year-over-year. Between 2017 and 2020, imports grew by 14.3%, equivalent to an annualized rate of 4.6%. The lowest import volume was recorded in 2019 at 544.0 K t, with the largest decline that year at 16.0%.

Annual dynamics of product's imports to Eastern Asia in kind, 2017-2020, K t

From 2017 to 2020, the United States, France, and the Netherlands were the leading sources in the import structure in kind. The United States accounted for 43.8% of imports in kind, France for 10.1%, and the Netherlands for 7.9%, together representing 61.8% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Eastern Asia in kind, 2017-2020

Imports in value, M $ US

After a two-year decline, imported whey volumes in Eastern Asia increased. In 2020, imports totaled 940.4 M $ US, up by 28.9% compared to the previous year. Between 2017 and 2020, imports rose by 18.1%, equating to an annualized rate of 5.7%. The lowest value was recorded in 2019 at 729.4 M $ US, with the largest decline occurring in 2018 at 6.0%.

Annual dynamics of product's imports to Eastern Asia in value, 2017-2020, M $ US

Throughout 2017 to 2020, the three largest markets—the United States, France, and the Netherlands—dominated imports in value terms, together accounting for 54.6% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Eastern Asia in value, 2017-2020