Are you capitalizing on your food waste? According to a recent article by FoodDive, the upcycled food waste market has grown to nearly $47 billion, and is expected to rise by 5% over the next ten years.
FoodDrive acknowledges that the beverage and bakery industries are the most lucrative emerging markets for food waste and note that many consumers are increasingly signing up for “ugly” or “imperfect” products.
Its not just ugly or imperfect produce, but consider peels. They can easily be turned into jelly. Or past prime fruits and veggies can now be re-purposed into other consumable products or uses. Essentially, allowing food manufacturers and processors to convert food waste from a loss to a profit.
Co-products are valuable secondary goods generated during manufacturing that can provide additional profit streams, and by-products are products that are residual or incidental to the production process, which can be recycled back into production, sold, or used for something else, as additional profit streams or cost reductions in the manufacturing process. All of this sounds great, right? But how do you manage the process? Check out ColumbusFood.
ColumbusFood, built with process manufacturers and food processors in mind. The co-product and by-product solution, allows users to plan, schedule and record the consumption and output of these processes.
Using this solution to define processes, the user can create co- and by-product formulas based on any batch size and automatically resize the formula for batch(es) based on demand and equipment.
Specifically, co-product and by-product allows you to define diverging Bill of Materials (BOMs) in which one item goes into a “product” and additional item/s result in co- or by-products. Therefore, giving a company the ability to use technology to track, monitor, reuse, and sell (if desired) co- and by-products of your manufacturing process. Otherwise, it’ll just go to waste, and add to the large amount of food produced for humans that’s wasted annually, which is about 30%.
Interested in seeing our co-product and by-product solution in action? Click the link to watch our short demo overview.