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This study investigates the causes of food loss and waste (FLW) from the perspective of logistics service providers (LSPs) and provides sustainable options for the Chinese market. To this end, this study reviews the literature on FLW and cold chain logistics published from 2008–2021. Until recently, little attention has been paid to understanding FLW drivers from the LSP perspective. This critical systematic literature review (SLR) aims to identify the potential drivers of FLW and provide a coherent and integrated knowledge base regarding these factors. A configurative SLR was performed, and after a filtering process, 43 articles were analyzed. Potential factors were identified and categorized into four groups: (i) poor management, (ii) inappropriate operational practices, (iii) high cost, and (iv) restrictions. The results reveal that technical inefficiency and facility costs are the most serious risks, and the lack of legislation and standards constitutes the second most serious risk for FLW. Sustainable solutions are recommended to address these risks. Finally, the study findings provide guidance for LSPs to achieve sustainability in social, economic, and ecological dimensions.