A $161 Billion Opportunity

From the USDA Agricultural Outlook Forum 2015:

In the United States, food waste is estimated at between 30-40 percent of the food supply. This estimate, which is based on estimates from USDA’s Economic Research Service of food loss at the retail and consumer levels of 31 percent, corresponded to approximately 133 billion pounds and $161 billion worth of food in 2010. This amount of waste has far-reaching impacts on food security, resource conservation and climate change. Speakers will examine some of the activities that USDA and others in the agricultural sector are undertaking to reduce food waste.

We see local efforts to capitalize on waste, perhaps a small company picking up waste fryer oil or recyclable plastics from restaurants, but it is nothing in comparison to how much opportunity there appears to be in this arena. A 0.1% savings here is a $100 Million company.. Something to think about.