Food-grade whey powder prices have surged to record levels, reaching approximately €1,700 per tonne after rising more than 50% since the start of 2026, according to DCA Market Intelligence. The sharp increase underscores a structural shift in dairy markets, where protein components are gaining strategic importance and driving value creation. Once treated as a by-product of cheese manufacturing, whey is now increasingly positioned as a high-demand functional ingredient. Market dynamics are evolving accordingly, with pricing no longer tied primarily to surplus volumes but instead influenced by its expanding role in food applications and nutrition-focused products. Demand growth is broad-based, spanning traditional uses in bakery, confectionery, and convenience foods, as well as rapidly expanding segments such as sports nutrition and protein-enriched beverages. This reflects a wider global trend toward higher protein intake, as consumers prioritize health, wellness, and muscle ...