Demand Soaring for Upcycled Certified® Food Products as America Celebrates 54th Earth Day Anniversary
Where Food Comes From Reports Upcycled Food Certification is Fastest Growing Standard as Environmentally-Conscious Consumers Turn to Sustainably-Produced Upcycled Snacks, Beverages and Pet Foods
CASTLE ROCK, Colo., April 22, 2024 (GLOBE NEWSWIRE) -- Where Food Comes From, Inc. (WFCF) (Nasdaq: WFCF), the most trusted resource for independent, third-party verification of food production practices in North America, today announced that its recently acquired Upcycled Certified® Program is its fastest growing certification standard.
Upcycled Certified is the world’s first and largest provider of certification for upcycled food and one of the fastest-growing certification seals in the food industry, providing consumers a tangible solution to shop sustainably and avoid food waste. Acquired by Where Food Comes From in December 2023, the standard is enjoying strong demand among consumers and producers of environmentally-friendly foods. There are approximately 100 companies with 531 products certified to the standard, a 110% increase over 484 products just a few months ago. The top three certified product categories are snack foods, pet foods and beverages.
Food producers that earn the Upcycled Certified seal range from start-ups to leading international consumer packaged goods companies such as Del Monte and Kerry Ingredients. These products are responsible for diverting an average of 390,000 tons of food waste annually – more than 1.25 million tons in all – since the Program’s launch in 2021. Program participants are upcycling food in 14 countries, a number that is expected to continue growing.
Upcycled products use ingredients that have full nutritional value and are safe for consumption but for various reasons would have gone to waste. Operators that grow, process, produce and trade in food, beverages and other products are eligible to apply for Upcycled Certified. These operators must demonstrate that ingredients they handle have been procured and produced using verifiable supply chains.
John Saunders, CEO and Chairman of Where Food Comes From, commented, “A core principle of EarthDay.org is the power of collective action, whereby individuals and businesses can join together in programs that benefit the planet through education and innovation. Upcycled Certified is a wonderful example of that principle in action. In less than four years the program has spawned dozens of new companies, hundreds of new products and millions of participating consumers working together on a practical and affordable solution to food waste. Upcycled Certified is one of the most exciting and promising sustainability trends we’ve seen to date and an increasingly important component of our industry-leading certifications mix.”
Upcycled Food Statistics:
- In the U.S. alone, an estimated 40% of food grown annually is unsold or uneaten. ReFED, a leading food waste research organization, estimates that 80 million tons of food that is wasted annually in the U.S. with a financial loss of $310 billion.
- A Future Market Insights report estimates the value of the upcycled food industry to be more than $46 billion and growing.
- Over the last three years upcycling consistently tops food trends lists, including Food Tank, Kroger, Forbes and Whole Foods Market.
- An Innova Market Insights survey showed 62% of consumers are willing to pay more for a product that fights food waste.
- A Hartman Group survey showed 70% of consumers had increased intent to buy Upcycled Certified® foods when the seal was on packaging.
- According to Project Drawdown, decreasing food waste is the number one solution to reducing the need for land and resources used to produce food as well as the greenhouse gases released in the process.
ABOUT WHERE FOOD COMES FROM, INC.
Where Food Comes From, Inc. is America’s trusted resource for third party verification of food production practices. Through proprietary technology and patented business processes, the Company estimates that it supports more than 17,500 farmers, ranchers, vineyards, wineries, processors, retailers, distributors, trade associations, consumer brands and restaurants with a wide variety of value-added services. Through its IMI Global, Validus Verification Services, SureHarvest, WFCF Organic, and Postelsia divisions, Where Food Comes From services verify food claims, optimize production practices and enable food supply chains with analytics and data driven insights.
CAUTIONARY STATEMENT
This news release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, based on current expectations, estimates and projections that are subject to risk. Forward-looking statements are inherently uncertain, and actual events could differ materially from the Company’s predictions. Important factors that could cause actual events to vary from predictions include those discussed in our SEC filings. Specifically, statements in this news release about industry leadership and demand for, and impact and efficacy of, the Company’s products and services on the marketplace; expectations for growth and expansion of the Upcycled Certified program; and expectations for continued consumer interest in upcycled products are forward-looking statements that are subject to a variety of factors, including availability of capital, personnel and other resources; competition; governmental regulation of the agricultural industry; the market for beef and other commodities; and other factors. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update forward-looking statements to reflect new information or developments. For a more extensive discussion of the Company’s business, please refer to the Company’s SEC filings at .
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Phone: 720-893-7324
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Investor Contact:
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Pfeiffer High Investor Relations, Inc.
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