A new study carried out by LEI Wageningen UR for the European Commission found that a 40 percent reduction in food waste by private households and retail by 2020 would result in annual savings of € 123 per person. The reallocated savings would benefit some non-food sectors while harming some food sectors, but the its overall effect on the EU economy would be negligible as it continues to grow at an expected 17 percent between 2012 and 2020.