Australians are paying more for protein powder because global demand for whey, a by-product of cheese-making, has outstripped supply.

How: Whey—the main ingredient for protein powder—now costs around four times what it did in 2023.

Gym-goers, high-protein snacks and weight-loss drugs like Ozempic have all driven up demand.

Money wars: Australia doesn’t produce enough of the specialised whey used in protein powder and relies heavily on imports from the US, where a trade fight with Canada is adding further pressure on prices.

The National Account’s Archie Milligan has the rundown: