Reduced Lactose Whey Market Size, Share, Growth & Trends 2024-2033 | Competitive Analysis & Key Players

The Business Research Company recently released a comprehensive report on the Global Reduced Lactose Whey Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The reduced lactose whey market size has grown rapidly in recent years. It will grow from $12.92 billion in 2023 to $14.33 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to growing awareness of lactose intolerance, rising prevalence of lactose intolerance, increased availability of reduced lactose, government regulations mandating lactose labeling, expansion of the dairy industry.

The reduced lactose whey market size is expected to see grown rapidly in the next few years. It will grow to $21.77 billion in 2028 at a compound annual growth rate (CAGR) of 11%. The growth in the forecast period can be attributed to increasing prevalence of lactose intolerance, expansion of the sports nutrition and functional foods markets, rising adoption of specialized diets, surge in research and development activities, growth of the infant formula market. Major trends in the forecast period include rising demand for reduced lactose whey products, expansion of functional foods, innovation in sports nutrition, diversification of product offerings, expansion of distribution channels.

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Market Drivers and Trends:
The growing popularity of plant-based diets is expected to propel the growth of the reduced-lactose whey market going forward. A plant-based diet typically refers to a dietary pattern that emphasizes foods derived from plants, such as fruits, vegetables, grains, nuts, seeds, and legumes, while minimizing or excluding animal products. The increasing popularity of plant-based diets is growing due to awareness of environmental sustainability, health benefits, and ethical considerations regarding animal welfare. Reduced lactose whey is incorporated into plant-based diets as a source of high-quality protein, providing a dairy-free option for individuals seeking to supplement their plant-based eating with additional protein while minimizing lactose intake. For instance, in January 2023, according to the Plant Based Foods Association (PBFA), a US-based trade association representing the interests of plant-based food companies, plant-based foods saw a sales growth of 6.6% in 2022, marking an increase from 5.9% in 2021. Moreover, plant-based creamer, the third-largest category after milk and meat, saw a 24% rise in revenue and a 12% increase in sales volume. Therefore, the growing popularity of plant-based diets is driving the growth of the reduced-lactose whey market.

Major companies operating in the reduced lactose whey market are focusing on expanding their product portfolio by adding innovative products such as animal-free whey protein to cater to the growing demand from vegan and plant-based consumers. Animal-free whey protein is derived from whey protein without using animals. It's produced using precision fermentation, where microbes such as fungi are genetically engineered to produce whey proteins in bioreactors. For instance, in June 2022, Strive Nutrition, a US-based sustainable nutrition company, launched a line of milk alternatives enriched with animal-free whey protein, aiming to replicate the taste and nutrition of cow's milk without the associated health and environmental downsides. Strive FREEMILK, an animal-free whey protein, guarantees freedom from lactose, hormones, antibiotics, and cholesterol. It provides 25% more protein, 75% less sugar, and reduced saturated fat compared to traditional whole cow's milk.

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Major Key Players of the Market:
Fonterra Inc., Land O'Lakes Inc., Tetra Pak International SA, Dana Foods Inc., Agropur Inc., Glanbia plc, Leprino Foods Company, Organic Valley, Hilmar Cheese Company Inc., Carbery Group, Volac International Limited, Westland Co-operative Dairy Company Limited , Graham Chemical Corporation, Davisco Foods International Inc., Interfood Inc., Redwood Hill Farm, MCT Dairies Inc., Idaho Milk Products Inc., Wapsie Valley Creamery Inc., Erie Foods International Inc., Grande Cheese Company, AMCO Proteins Company, Wheyco GmbH, Agri Dairy Products Inc.

Reduced Lactose Whey Market 2024 Key Insights:
• The reduced lactose whey market size is expected to see grown rapidly in the next few years. It will grow to $21.77 billion in 2028 at a compound annual growth rate (CAGR) of 11%.
• Demand For Plant-Based Diets Is Boosting The Reduced Lactose Whey Market
• Reduced Lactose Whey Market Innovate With Animal-Free Whey Protein
• Europe was the largest region in the reduced lactose whey market in 2023

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