Foodtech as Part of the Circular Economy

Increasing food prices, intensifying competition, and even the need for sustainable operations lead players in the food sector to innovative strategies. Food Loss and Waste (FLW) is a major issue, the solution for which could significantly contribute not only to the achievement of Sustainable Development Goals (SDGs) but through novel approaches to the competitiveness and financial success of said actors. FLW studies are often related to production, while the retailers have not been broadly researched. Food upcycling has been emerging as an innovative solution, to transfer food loss into marketable food products. The current study analyzes the surplus-based upcycled food products’ consumer acceptance and the competitive advantages that could be realized by the exploitation of this innovative approach. Following the Preferred Reporting Items for Systematic reviews and Meta-Analyses (PRISMA) guidelines, some of the essential product features could be observed based on academic publications. The upcycled food is not well-known. Individuals who are environmentally conscious most support this type of product. However, the low level of processing was seen as a desirable feature for everyone. Due to the low level of processing, technophobia should not hamper, but rather support the spread and use of surplus-based products. Similar to conventional food, taste, sensory appeal, and price are those characteristics that can influence consumers’ decision-making. Without a significant increase in marketing expenditures, innovative retailers can influence potential customer engagement through comprehensive and educational advertising. Offline presentations and trials are consistently more persuasive in involving customers, but the significance of online information sharing is equally important. These results imply that innovative businesses, by selling upcycled food, could realize competitive advantages from multiple sources while contributing to the SDGs.