North American whey prices moved on a mixed-to-soft trend in H1’26, with Central and East dry whey markets easing as supply remained comfortable and buyers stayed cautious. USDA data showed manufacturer dry whey stocks at 62.575 million lb in January, 60.133 million lb in February, 63.998 million lb in March, and 61.588 million lb in April, indicating no severe supply shortage. The West market was firmer because demand for whey protein concentrates and isolates encouraged some processors to prioritize higher-protein output over regular Grade A dry whey. Upstream conditions were shaped by cheese production, milk availability, drying capacity, energy costs, and freight. The Iran war and Strait of Hormuz disruption affected whey only indirectly through higher fuel, freight, and food-chain logistics risk. Downstream demand from sports nutrition, infant nutrition, functional foods, animal feed, and protein-fortified products remained supportive, but standard dry whey buyers were careful with procurement.
Analyst Insight
According to Procurement Resource, in the near term, whey prices may stay range-bound, with support from protein demand but limited upside if dry whey availability remains comfortable.
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During the second half of 2025, whey prices maintained a firm to upward trend, driven by sustained global demand for high-protein dairy ingredients. Strong consumption from the sports nutrition, infant formula, and functional food sectors continued to support market sentiment, while producers prioritized manufacturing higher-value whey protein products over standard dry whey. Although milk production increased across major exporting regions, downstream demand absorbed much of the additional supply, preventing significant inventory accumulation. Export activity remained healthy, particularly across Asia, while seasonal restocking during the fourth quarter further strengthened buying interest. Overall, the market remained well supported, with strong protein demand and balanced inventories sustaining elevated whey prices throughout the period.
Whey, a byproduct of the cheese or casein production, is the liquid left after milk has been curdled and strained. Sweet whey is a byproduct formed during the production of rennet types of hard cheese, such as cheddar or Swiss cheese. Natural whey protein is emerging as a key ingredient for a healthy lifestyle as it is a high-quality dairy protein. It is naturally rich in essential amino acids- particularly leucine, a branched chain amino acid.
Food industry, Dietary and nutritional supplement, Processed food, Animal feed, Cream and butter
Arla Foods Amba, Fonterra Co-operative Group, wheyco GmbH, Carbery Group, Valio Ltd, Lactalis Ingredients, Saputo Inc
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
During the cheese production, when milk is coagulated by adding edible acid to the heated milk, whey is left over and includes everything that is soluble from milk after the drop of pH to 4.6. After this, fat is removed from the whey and it is further processed, by simple drying, removing lipids and other non-protein materials, for human consumption.
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This report provides the cost structure of whey powder production from the reverse osmosis and drying processes. Using reverse osmosis, the dry content of whey is increased.
This report presents a detailed cost analysis of 2-hydroxypropanoic acid production from carbohydrates using the fermentation process.
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