Whey protein prices have risen sharply over the past year, driven by the "proteinmaxxing" trend and the increasing use of GLP-1 weight-loss medications. Health professionals have been emphasising the benefits of protein, while people taking appetite-suppressing drugs are seeking concentrated whey protein in shakes and bars to preserve muscle mass as they lose weight.
Expana, a global market intelligence platform, puts the price of whey protein concentrate 80 – which contains 80% pure protein – at €25,875 per metric tonne, up from €11,733 (£10,050) in July 2025.
Whey is a vital ingredient in infant formula, where it is used to mimic human breast milk by adjusting the protein ratio and making it easier to digest. High-whey formulas are designed specifically for newborns and babies under one year old. Industry insiders warn that rising demand could soon be felt by consumers as manufacturers struggle to absorb higher ingredient costs.
Formula prices already rising
Office for National Statistics data shows the average price of baby formula has already risen by 4.8% over the past year, with a 750g box now costing £12.11, up from £11.55 a year earlier.
Dr Vicky Sibson, director of the First Steps Nutrition Trust, an independent UK public health nutrition charity, said: "Whey is a major ingredient in infant formula, so significant increases in its price risk increasing the price of formula itself."
She added: "We know from the Competition and Markets Authority's [CMA] report that infant formula manufacturers have passed any rise in input costs on to consumers, including during the cost of living crisis." Sibson called the situation "hugely concerning" given "mounting evidence that many families using formula to feed their babies find it unaffordable, and the coping strategies they use – like watering down feeds – may be harmful".
She backed the CMA's proposed mandatory price or profit cap, saying: "There is precedent for this from other countries including Greece and it's warranted because the CMA's work exposed high profit margins of between 50% and 75%. Companies should not be allowed to protect their margins at the expense of the wellbeing of mothers and babies."
Manufacturers reformulate
Jose Saiz, who covers the European dairy market at Expana, said higher ingredient costs have already led to higher consumer prices across many dairy and nutrition products, although the extent of cost pass-through varies by market and brand.
He said some infant formula manufacturers are reformulating products to use more D90 demineralised whey powder. D90, which has 90% of its minerals removed, helps manufacturers achieve the required whey-to-casein ratio while supplying both whey proteins and lactose. As more producers switch to the ingredient, demand has risen sharply, pushing up D90 prices as well.
"Over the past six months, many manufacturers have reformulated their recipes in response to rising ingredient costs. One of the main responses has been to increase the use of demineralised whey powder 90 (D90), an ingredient used primarily in infant formula," Saiz said.
He added: "Infant formula manufacturers report that current high whey protein prices are becoming economically unsustainable at existing retail price levels. Many believe further consumer price increases will eventually be necessary unless raw material costs ease."
