While food waste often is viewed as a social and environmental problem, it’s also an economic one. Each year, uneaten food costs the world up to $400 billion annually. More than half of this comes from the United States — which spends more than $218 billion growing, processing, transporting and disposing food that’s never eaten. That’s a full 1.3 percent of total GDP.
Given the high economic stakes, it makes sense that food companies around the world are looking for innovative ways to cut down on food waste. There is $1.9 billion of annual business profit potential from the revenue and cost savings of implementing various recycling and food waste prevention strategies, research shows.
Many forward-thinking food firms already are acting on this by investing in food waste solutions. Here are some notable ones: