Food waste and by-products are intricately linked to sustainable food production, as reducing waste can play a significant role in achieving a more sustainable and efficient food system. Sustainable utilization and recovery of by-products can significantly contribute by creating strategies that can lead to cost savings and increased efficiency across the food supply chain. Worldwide, more than 40% of whey from cheese production is discarded, resulting in the loss of valuable nutrients and potentially polluting the environment. Effective use of whey reduces environmental impact and enhances manufacturing sustainability. Thus, a circular approach to food waste management in the dairy industry supports sustainability goals and creates opportunities for innovation. Whey contains most of the soluble components of milk, including a large number of serum proteins and all the essential amino acids, making it suitable for producing beverages with high nutritional value. This study aims to produce whey-based beverages with different additions to obtain dairy products with high nutritional value. Three different ingredients, sea buckthorn, ginger, and cinnamon, were chosen for their numerous health benefits to the consumer. Six samples were prepared utilizing both unmodified and deproteinized whey in a 75% proportion, with the addition of 25% sea buckthorn juice, 0.75% ginger juice, and 0.2% cinnamon powder. The resultant samples were packaged in 200 mL bottles and maintained at a controlled temperature of 6 °C to ensure optimal preservation. Given the paramount importance of consumer acceptability in novel beverage development, a comprehensive evaluation was conducted to assess the sensory properties of the formulated beverages. In addition, physico-chemical properties and their evolution over 14 days of storage were examined. The sample containing whey, sea buckthorn juice, ginger juice, and cinnamon powder received the highest marks from the tasters. The values of the physico-chemical parameters varied depending on the type of whey used and the storage period. Thus, a pH of approximately 5 and an acidity between 30 and 80 °T were recorded. The average lactose content was 4%, the average protein content was 2.5%, and the total soluble solids content was 11.5 °Brix. The beverages developed in this study represent viable alternatives for diversifying food production through sustainable, environmentally friendly technological variants. By applying circular economy principles, these products contribute to reducing food waste in the dairy industry.