giraffe_lady parent
Reported numbers vary but household food waste seems to be fairly high in developed economies, so food demand might be more elastic than intuition would expect.
I've seen consistent values for food waste reported for at least the past 40 years, if not the past 80, in various sources. I suspect it's something of a constant. One observation I've seen is that food wastage now occurs far later in the processing cycle, which is to say, after far more resources (transport, processing, refrigeration, cooking) have been invested in it.
In the long term, food demand is elastic in that populations tend to grow.