Protein trend continues to push whey powder prices higher

The price of food-grade whey powder is rising rapidly and has reached a record level. At approximately €1,700 per tonne, prices are historically high. Since the start of this year, prices have increased by more than 50%. This is according to figures from DCA Market Intelligence (2026). The development shows that the role of whey within the dairy market is shifting. Where it was long considered a residual stream, it is now taking on a clearer position as a raw material with its own demand and value.

Whey becomes a strategic ingredient

Whey was traditionally seen as a by-product of cheese production. That position is changing under the influence of growing demand for applications. “Whey is shifting from a by-product to an ingredient with active demand. As a result, pricing is becoming less driven by volume and more by functional applications,” says Wouter Baan, dairy market analyst at DCA Market Intelligence.

Demand for whey powder is broadly supported. Applications include bakery, confectionery, and convenience products. It is also used in protein-rich products such as shakes and sports nutrition. This aligns with a broader development in which protein is playing a larger role in diets.

Demand grows, supply remains limited

The growth in demand is linked to changing preferences around health and nutrition. Protein-rich products are increasingly associated with muscle maintenance. The use of GLP-1 medication, such as Ozempic, is also mentioned as a factor reinforcing this development. These drugs are often associated with lower food intake and a stronger focus on nutritional value.

On the supply side, flexibility remains limited. Whey depends on cheese production and cannot easily be scaled up. “The combination of rising demand and relatively stable supply makes the market sensitive to rapid price movements,” Baan adds.

Significant price differences within the segment

Within the whey segment, price differences are widening further. Standard whey powder with around 11% protein rose to €1,700 per metric ton. Higher prices are being paid for deliveries in the second half of 2026. Highly concentrated products show a sharper increase. Whey protein concentrates with up to around 90% protein reached approximately €20,000 per metric ton over the past year.

Dcamarketintelligence.com