May 1st Price Increase

Over the past 12 months, we’ve deliberately held pricing stable across our range. This has been made possible through forward contracting and controlling our own manufacturing inputs.

However, the market has now shifted materially.

Over the past 9 months, input costs for whey isolate and whey concentrate have approximately doubled. This is not a short-term fluctuation, but a structural shift driven by sustained global demand and supply constraints.

Market Context

We are currently seeing a convergence of factors impacting global whey pricing:

• Sustained demand growth
  Protein consumption continues to accelerate globally, driven by GLP-1 usage, mainstream food integration, and long-term health trends.

• Expansion beyond supplements
  Protein is now a key on-pack callout across FMCG categories, increasing competition for raw whey inputs.

• Rising cost base
  Inflation across feed, energy, labour, and logistics has increased the cost of dairy production at every stage.

• Supply-side pressure
  Suboptimal dairy yields in key regions have reduced global milk supply. As whey is a derivative of dairy production, this directly impacts availability.

• Global trade flow shifts
  Tariffs and sourcing changes, particularly influenced by US policy, have increased competition for New Zealand-origin supply.

• Commodity pricing dynamics
  Dairy is traded on the Global Dairy Trade platform, where increased demand continues to push clearing prices higher. 

Pricing Positioning

Following a recent market review, we’ve completed a comprehensive analysis across key markets and competitor sets. On a gram-for-gram basis, our whey protein range is currently priced below comparable products, particularly within the premium New Zealand and clean-label segment.

As a result, upcoming pricing adjustments are not only a response to rising input costs, but also a realignment to current market rates. This ensures we maintain a sustainable position while continuing to deliver on quality, consistency, and supply.

Reiterating our prices are increasing on an input cost basis not a margin basis.

These updated prices will come into effect from 1 May 2026.

Outlook

We expect pricing to remain elevated in the near to medium term.

Geopolitical factors and ongoing cost pressures are likely to sustain current levels. While demand may eventually soften at higher price points, premium New Zealand whey continues to command strong global preference.

Alternatives 

Plant Protein

We’ve been working on something new. Our plant protein is being reformulated to deliver a smoother texture and better mix, bringing it closer to the experience of whey. With pricing staying the same, it’s a great option if you’re looking for a high-quality, better-tasting alternative as whey prices increase without giving up on taste or performance. Available in 4-6 weeks. 

Protein Water

If you’re after something lighter than a shake, this one’s for you. Our new Protein Water is clean, refreshing, and easy to drink a simple way to get your protein in without the heaviness. With a more accessible price point, it’s perfect for everyday use, whether you’re on the go, post-workout, or just looking for a refreshing option. Available in 6-8 weeks.

For a brand that has been built on transparency and trust it is important to reiterate that the increases are based on a cost basis not a margin basis. These are simply the direct increases we have experienced on a per unit level.