Whey Protein Price Surge Drives Infant Formula Costs Up

Market analysts report that the price of whey protein concentrate, a key ingredient in infant formula, has more than doubled, rising from €11.733 per tonne in July 2025 to €25.875 per tonne. The surge is linked to heightened demand for high‑protein foods and the use of GLP‑1 drugs, prompting manufacturers to reformulate baby milks and potentially pass higher costs to consumers.

At the same time, the European milk spot price, which had been climbing since March 2026, reversed sharply in July‑August 2026, falling from €48.5 per 100 kg on 12 July to €43.3 per 100 kg on 2 August – a drop of more than five cents per litre. Analysts from Expana note that the impact on retail prices will vary by brand and market.