The food and agribusiness sector is faced with a number of challenges and opportunities related to demand, supply, innovation, and regulation that will shape the evolution of the sector over the next 5-10 years.
Food waste is worth A$1.3 trillion globally due to 20-30% of food being wasted somewhere along the value chain. Most losses in the value chain occur in developing countries due to poor storage facilities and inadequate transport infrastructures. Conversely, 35% of food is wasted during consumption, predominantly in developed countries. This could be attributed to the fact that developed countries have fewer incentives to reduce food waste as households spend a relatively small percentage of their income on food.
Food waste can be broken down into several sub-segments. To understand more please read the Food Waste chapter within the Size of the Prize: An Overview of 16 Opportunities for Australian Food & Agribusinesses.
Food Waste Opportunity Summary
Size of the Prize Full Report