Market outlook | h2 2026
Protein markets are historically tight. Plan your H2 2026 purchases now.
WPI is approaching EUR 25,000/mt and WPC80 Q2 volumes are close to sold out across Europe and the United States. Demand is no longer just a sports nutrition story.
Medical applications, GLP-1 weight management, and general food fortification have created a demand base that is far less seasonal and far less sensitive to slowdowns in consumer spending.
This report covers WPI, WPC80, eggs, glucose and dextrose, cocoa, nuts, and energy for sports and active nutrition buyers.
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"Negotiations are now centred on securing any volume at all rather than price. Q2 is close to being fully sold out across both Europe and the United States."
Jasper Endlich
Dairy Analyst, Vesper
Volume risk, not price risk
WPC80 is being driven by a breadth of demand that makes this cycle different from previous bull runs. US safety stocks have fallen to below one month of production, well under the historical norm of around two months.
Chinese buyers shifting sourcing back toward New Zealand means all three major producing regions are simultaneously experiencing very tight conditions.
For sports nutrition procurement, the risk is not overpaying.
It is not having supply.
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