The intertwined concepts of circular economy and sustainable business are influencing the food and agriculture sector as impacts from global warming, climate change, and food loss increase. In the food industry, the circular bioeconomy is being realized as agricultural by-products and food waste is captured as value-added ingredients to reformulate existing products, and in the development of new products and brands.
In addition to sustainability benefits, market data suggests consumers are beginning to make preferential purchases of products embracing this approach. “Upcycling” is the new term coined to describe this approach, and according to ReFED’s Roadmap to 2030: Reducing U.S. Food Waste by 50%, 1.9 million tons of manufacturing by-product could be diverted and utilized via upcycling, generating $2.7 billion net financial benefits. The United States Department of Agriculture (USDA) and the United States Environmental Protection Agency have also embraced a U.S. 2030 Food Loss and Waste Reduction goal.