THE GLOBAL WINDOW OF TURKISH FOOD AND AGRICULTURE The Global Window of Turkish Food and Agriculture Sector
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A newly published report reveals that the cost of global food waste will reach approximately 540 billion dollars by 2026. This comprehensive study indicates that waste occurring throughout the global supply chain, from production to the consumer, has become an extremely costly problem for businesses, eroding one-third of retail revenues.
The research is based on the report Making the Invisible Visible: Unlocking the Hidden Value of Food Waste to Drive Growth and Profitability, prepared by Avery Dennison, a provider of material sciences and labelling solutions. The report predicts that if current trends continue, the total cost of food waste between 2025 and 2030 could reach 3.4 trillion dollars. This figure aligns with the United Nations (UN) goal of halving global food waste by 2030, but 27 percent of leaders say this target will not be met.
According to the report’s key findings, the cost of food waste averages approximately 33 percent of the total revenue of businesses in the supply chain. This figure covers all waste occurring from farm to retail. The research also involved interviews with 3,502 senior executives from major markets including the UK, US, Germany, France, China, Brazil and India. Sixty-one per cent of businesses still report that they cannot fully see where food waste occurs…
