Whey market in Latin America and the Caribbean

Earlier Report Observations

From 2018 to 2019, the whey market in Latin America and the Caribbean expanded significantly, with volume rising from 123 thousand tons to 142 thousand tons. This growth was supported by increased milk production in key countries like Colombia, Argentina, Chile, and Uruguay, alongside market diversification into value-added products such as whey protein powder, concentrates, and probiotic dairy items. State-owned companies and cooperatives played a leading role in production and commercialization.

The COVID-19 pandemic initially disrupted supply chains in 2020, but demand for healthy and functional foods, including whey protein, helped maintain market volume near 142 thousand tons. In 2021, regulatory approval in Brazil for the use of milk fat globule membrane (MFGM) ingredients in whey protein products broadened applications and contributed to rising market value, even as physical volume experienced a slight correction to 136 thousand tons.

By 2022-2023, substantial investments in dairy processing infrastructure, projected at over $7 billion, and the expansion of retail channels facilitated market recovery. The growth of A2 milk segments and further regulatory clearances, such as for Lacprodan® MFGM-10 in Brazil, enhanced whey-based product offerings. The re-entry of innovative brands like NotCo with plant-based alternatives reflected shifting consumer preferences, while whey market volume reached 151 thousand tons in 2023.

Production whey in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of whey, 2017-2020

World map of production of whey, 2017-2020

In Latin America and the Caribbean, whey production reached 97 thousand tons in 2020, marking a 5.1% increase from the previous year. Over the 2017-2020 period, production grew by 10.4%, with an average annual growth rate of 3.3%. The largest annual increase occurred in 2018 at 5.9%, while the largest decline was in 2019 at 0.9%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Whey production in Latin America and the Caribbean increased for the second consecutive year. In 2020, the output was valued at 109.7 million US dollars, which is 8.0% higher than the previous year. Between 2017 and 2020, production decreased by 2.9%, translating to an annualized decline of 1.0%. The lowest value was recorded in 2018 at 95.7 million US dollars, with the largest annual decline also occurring that year at 15.4%.

Annual dynamics of production in Latin America and the Caribbean in value, 2017-2020, M $ US

Exports whey from Latin America and the Caribbean

Exports in kind, K t

After rising for two years, whey export volumes from Latin America and the Caribbean declined in 2020. Exports totaled 77.3 thousand tons, representing a modest 8.2% decrease from the prior year. The highest volume was recorded in 2019 at 84.2 thousand tons, with the largest annual increase also occurring that year at 5.0%.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, K t

From 2017 to 2020, the country structure of whey exports in kind was highly diversified. China accounted for 32.0% of exports, Russia for 7.6%, and the Philippines for 6.3%, together making up 45.9% of total flows. The remaining 54.1% was distributed among numerous smaller markets.

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

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, M $ US

In 2020, whey shipments from Latin America and the Caribbean totaled 87.5 million US dollars, showing a gradual reduction of 5.6% compared to the previous year. Over the 2017-2020 period, exports decreased by 11.1%, with an average annual decline of 3.8%. The lowest value was recorded in 2018 at 82.6 million US dollars, with the largest annual decline that year at 16.1%. The largest annual increase occurred in 2019 at 12.4%.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, M $ US

The market base for whey exports in value terms was broad from 2017 to 2020. China represented 27.7% of exports, Russia 8.8%, and the Philippines 5.8%, together accounting for 42.3% of total flows. The remaining 57.7% was shared by many other countries.

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

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports whey to Latin America and the Caribbean

Imports in kind, K t

In 2020, whey deliveries to Latin America and the Caribbean stood at 122.1 thousand tons, showing a gradual decline of 8.8% from the previous year. Over the 2017-2020 period, imports increased by 10.6%, with an average annual growth rate of 3.4%. The lowest volume was recorded in 2018 at 110.1 thousand tons, while the highest was in 2019 at 133.9 thousand tons. The largest annual increase occurred in 2019 at 21.5%.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, K t

From 2017 to 2020, the United States led the structure of whey imports in kind with 60.8%, followed by France at 3.4% and Canada at 1.8%. Together, these three countries represented 66.0% of total import flows.

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

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, M $ US

In 2020, whey deliveries to Latin America and the Caribbean totaled 140.9 million US dollars, showing a substantial reduction of 12.2% year-over-year. The lowest value was recorded in 2018 at 129.7 million US dollars, while the highest was in 2019 at 160.6 million US dollars. The largest annual increase occurred in 2019 at 23.8%.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, M $ US

Throughout 2017 to 2020, the United States was the key direction for whey imports in value terms, accounting for 55.1%, followed by France at 4.6% and Canada at 1.5%. Together, these three countries took 61.2% of total import flows.

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

World map of product's imports to Latin America and the Caribbean in value, 2017-2020