Global food systems generate significant socio-economic impacts (or externalities) – both positive and negative – which greatly vary across geographic regions, supply chains, and production systems. These externalities, ranging from inadequate working conditions and child labour (negative) to job creation and community development (positive), are rarely reflected in market prices. True Cost Accounting (TCA) methodologies aim to advance
traditional impact assessments by quantifying and economically valuing food systems' external benefits and costs – encompassing health, environmental, and socio-economic dimensions.
However, consensus on measurement methods and metrics is lacking. We reviewed existing frameworks, approaches, methods, and data sources used for evaluating and monetising socio-economic externalities associated with food production and consumption. Our analysis of 24 publications (2008–2025) revealed a nascent field
with limited evidence, characterised by a strong focus on negative impacts, individual foods or food groups (as opposed to whole diets), and primary production.