Food Waste: Implications and Opportunities

Food loss/waste relevant for all businesses

Food waste particularly pertains to food and drink companies but extends to other businesses as well. For food and drink companies it represents inefficient use of resources and can lead to loss of consumer credibility, while other businesses can take advantage of the new opportunities to help close the gap in the system.

Business engagements involve prevention and recycling

Business engagement in food loss/waste can be broadly categorised under prevention and recycling waste. Prevention includes initiatives that prevent food loss/waste in the food supply chain and during consumption, while recycling waste is finding productive use of food waste after food has been disposed of.

Food waste developed vs developing countries

In developing countries food is lost mostly during production, processing and distribution on account of inadequate infrastructure, whereas in developed countries it is during the retailing and consumption stages on account of consumer behaviour and lifestyle.

Future opportunities in food waste

The growing momentum in food loss/waste is creating new business opportunities. Some of the key areas are smart consumer appliances such as refrigerators and innovative food packaging. Financial institutions have the opportunity to provide innovative loan packages to smallholder farmers in developing countries. Venture capitalists can invest in new initiatives designed to prevent food loss/waste and channel food waste into other productive economic activities. Recycling plants and renewable energy generators can take advantage of the new opportunities awarded by the growing concern relating to food loss/waste. Waste management companies can develop thriving consulting arms which can help clients manage waste in more productive and environmentally friendly ways. There is growing scope for collaboration – for example between recycling and waste management companies.