Tech platforms Misfits Market, Too Good to Go and Goodr connect food companies with opportunities to divert their waste and improve their bottom lines at the same time.
Why it matters:
- Nearly one-fourth of the food produced in the U.S. ends up going to waste, which also results in wasted resources spent by businesses to produce and transport food items.
- Reducing food waste represents a tremendous opportunity for helping people in need and protecting the environment, while boosting food companies’ own profitability and sustainability.
- Technology platforms such as Misfits Market, Too Good to Go and Goodr are successfully scaling up their operations as they tackle this challenge from different angles, seeking to provide benefits to both food businesses and consumers.
A handful of technology startups are seeking to tackle the challenge of reducing food waste at the grower, retailer, restaurant and consumer levels by matching surpluses with willing buyers.
Misfits Market, Too Good to Go and Goodr are leaning into the booming food waste management business, which generates an estimated $34.22 billion in global sales, and is on track to expand at a 5.4% compound annual growth rate over the next few years, according to Grand View Research.