V. Competitive Analysis

Competitor 1
[Competitor 1] is a food collection company that delivers services only to the local community. [Competitor 1], based in [location Name], was founded in [year] by [Founder’s Name]. The company collects edible food waste and provides it to the food-insecure community as packaged meals and groceries. [Competitor 1] has established a network of [xx] in the [location] in order to encourage community members to report local food waste for collection and reuse.

Competitor 2
[Competitor 2] is an online platform that links significant food service and catering providers with independent retailers to cut down on food supply chain losses. The company has partnered with food charities to provide an outlet for redistributing the product to those who need it most. The company’s mission is to help all parties in the fresh produce sector optimize their supply chain and enhance every relationship with fresh produce suppliers. By connecting the supply chain digitally, the company enables the redistribution of surplus products to new buyers and thereby reduces unnecessary waste.

Competitor 3
[Location Name]-based [Competitor 3] is a technology company that uses AI to reduce food waste in commercial kitchens. [Company name]’s Waste Monitor Structure, a food waste tracker, is utilized by chefs in more than xx countries. Additionally, the company’s system of cameras points at garbage bins that collect data on food waste.  

Strengths

• The Company's best-in-class technology platform will create new, unique data to enable customers to see what’s actually happening at the ground level.
• The Company will use analytics and technology approaches to help retailers estimate the approximate demand for the food, which will help in the source reduction of food and will curb the wastage of food.
• The founder’s knowledge and decades of experience in the domain industry would be the strongest pillar of the company.

Weakness

• Being new to the industry could lead to a significant lag in establishing goodwill and trust

Opportunities

• The global food waste management market is expected to grow from $36.04 billion in 2020 and reach $55.79 billion by 2028, growing at a CAGR of 5.8% during the forecast period.
• The spread of coronavirus has drawn further attention to the risks of substantial food loss, particularly those of dairy, meats, fruits, and vegetables, as social distancing measures have caused supply chain disruptions and demand to drop in many countries with a potential to increase losses, especially in high value and nutrient-rich food commodities.

Threats

• Competitors could look to copy the company’s business model.