Digital solutions enable the change of the food market and the advancement of sustainability.
FREMONT, CA: Food loss and waste account for approximately one-third of global food output. However, finding a solution isn't always easy. Typical methods like garbage collection measurements and questionnaires aren't always enough to reduce food waste. As a result of the complexity of consumer decision-making, it is incredibly difficult to determine the core causes of a person's actions. Across the entire food supply chain, numerous issues need to be addressed.
To put it simply, more work must be done to guarantee that the market accurately reflects the related negative environmental repercussions. The food market may be transformed and made more sustainable through digital solutions.
Already, the food consumption market has embraced digital innovation. Nowadays, users use smartphone applications to keep track of their purchases, monitor their consumption patterns, and plan meals using customized recipes. Individuals can also track the freshness of food by putting smart reusable sensors on food containers. Additionally, smart cameras can organize food storage, and smart bins can classify waste.
With artificial intelligence, manufacturers and consumers would have access to data that exceeds what is currently available through traditional garbage collection measurements and survey methods. One significant benefit of digitization is that it makes consumer waste traceable and quantifiable, making concerns evident. This, in turn, can aid in behavior modification.
Additionally, the resulting volume and quality of data enable a market that extends beyond the dimensions of purchasing and selling food, enabling the participation of multiple actors connected by data. In this multi-sided market, collected consumer waste data can serve as a clear reference point for future consumer preferences within the food supply chain. This is advantageous for businesses in terms of modifying their business plans.
Based on such data, new business models have arisen that benefit the customer. For example, food takeout platforms have used data on food consumption to develop solutions such as lower dish amounts to combat food waste while also delivering cost savings and satisfaction to both parties. Additionally, individualized cooking recipes are stimulating a market for content production.
Food waste may be prevented by associating data on food surplus at businesses and homes with charitable organizations—such as food banks—and allowing for more equitable food distribution. Consumers can alter their behavior in exchange for the promise of cost savings through better planning, more appealing rewards, or enhanced shopping experiences. By connecting all stakeholders in a digital platform, smart device or application developers might attract investment or profit. By classifying garbage closer to its source, smart bins can breathe new life into waste management specialization, expanding the market.
These win-win solutions are predicated on the exponential growth of data on consumer food waste, which may strengthen developing business models.
See Also : Food Processing Solutions Companies
