Global Reduced Lactose Whey Market Size Forecast 2024 - 2033
19 Dec, 2024
How Is The Global Reduced Lactose Whey Market Defined?
Reduced lactose whey is a type of whey protein that has undergone a process to reduce its lactose content. Whey is the liquid remaining after milk has been curdled and strained, and it contains various proteins, including lactoglobulin and lactalbumin, along with some lactose and other nutrients.
Reduced Lactose Whey Global Market Report 2024 provides data on the global reduced lactose whey market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Reduced Lactose Whey market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Reduced Lactose Whey Market Size Expected To Expand, And At What Annual Growth Rate?
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, and expansion of the dairy industry. The reduced lactose whey market size is expected to see rapid growth 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, and 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, and expansion of distribution channels.
What Are The Key Drivers Fueling Growth In The Reduced Lactose Whey Market?
The rising popularity of plant-based diets is expected to fuel the growth of the reduced-lactose whey market moving forward. Plant-based diets emphasize foods derived from plants while minimizing or excluding animal products, driven by environmental sustainability, health benefits, and ethical considerations. Reduced-lactose whey serves as a high-quality protein source in plant-based diets, offering a dairy-free alternative for individuals seeking additional protein while reducing lactose intake. According to the Plant Based Foods Association's January 2023 report, plant-based food sales grew by 6.6% in 2022, up from 5.9% in 2021. Notably, plant-based creamer, the third-largest category after milk and meat, saw a revenue increase of 24% and a sales volume increase of 12%. Therefore, the growing popularity of plant-based diets is driving the growth of the reduced-lactose whey market.
Get Your Free Sample of the Global Reduced Lactose Whey Market ReportWhat Are The Principal Market Segments In The Global Reduced Lactose Whey Industry?
The reduced lactose whey market covered in this report is segmented –
1) By Type: Organic Reduced Lactose Whey, Conventional Reduced Lactose Whey
2) By Extraction: Extraction By Precipitation, Extraction By Filtration, Extraction By Dialysis
3) By End User: Food And Beverages, Nutraceuticals, Household And Retail Use
Which Emerging Market Trends Are Altering The Reduced Lactose Whey Sector?
Leading companies in the reduced lactose whey market are expanding their product ranges with innovative offerings like animal-free whey protein to meet the increasing demand from vegan and plant-based consumers. Animal-free whey protein is created without using animals, utilizing precision fermentation where microbes like fungi are genetically engineered to produce whey proteins in bioreactors. For example, in June 2022, Strive Nutrition, a sustainable nutrition company based in the US, introduced a line of milk alternatives enriched with animal-free whey protein. This product aims to replicate the taste and nutrition of cow's milk while avoiding its health and environmental drawbacks. Strive FREEMILK, featuring animal-free whey protein, ensures freedom from lactose, hormones, antibiotics, and cholesterol, and provides 25% more protein, 75% less sugar, and reduced saturated fat compared to traditional whole cow's milk.
What Is The Leading Region In The Reduced Lactose Whey Market?
Europe was the largest region in the reduced lactose whey market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the reduced lactose whey market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.