WFCF - Where Food Comes From Inc. Acquires Upcycled Certified® Program as Reducing Food Waste Through Upcycling Becomes Fastest Growing Consumer Trend | Benzinga
CASTLE ROCK, Colo., Dec. 27, 2023 (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 it has acquired the Upcycled Certified® Program from the Upcycled Food Association.
Upcycled Certified, the world's first and largest provider of certification for upcycled food, has emerged as a dynamic force that is reshaping the way manufacturers valorize all parts of the food chain and avoid food waste. Upcycled Certified is now one of the fastest-growing certification seals in the food industry, providing consumers a tangible solution to shop sustainably. There are currently 93 companies with more than 480 products certified to the standard, including leading Consumer Packaged Goods (CPG) companies such as Del Monte and Kerry Ingredients. These products are responsible for diverting an average of 390,000 tons of food waste annually since the Program's launch less than three years ago.
The acquisition comes at a time when upcycling is gaining in relevance and popularity. Over the last three years upcycling consistently tops food trends lists, including Food Tank, Kroger, Forbes and Whole Foods Market. Data from retail insights firm SPINs show that 51% of consumers are more likely to buy a product identified as Upcycled Certified, signifying significant consumer acceptance and demand.
"The upcycled food movement is closely aligned with broader sustainability trends in the United States and around the world," said John Saunders, chairman and CEO of Where Food Comes From. "This acquisition enables Where Food Comes From to meet growing consumer demand for products that contain upcycled food ingredients. As the exclusive certification body for the standard since early 2021 – and as the most diverse food verification body in the country with more than 17,000 customers – we are ideally suited to take Upcycled Certified to the next level of growth. Our first order of business following the ownership transition will be to make it easier and more cost effective ...