While you don't take any damage from not eating, it will put an annoying status message on your character sheet.
If you become 'starving to death', you will no longer regain stamina while resting.
Food Score Message ======================================================= 800 to 1500: You are so full you could vomit! 600 to 800: You are really full. 320 to 600: You are full. 120 to 320: You are stuffed. 50 to 120: You are satiated. -90 to -150: You are hungry. -150 to -300 You are really hungry. -300 to -600: You are starving. -600 to -900: You are completely famished. -900 to -1000: You are starving to death. (And will no longer regen stamina).
Each bite of food adds +50 food, and it takes around 100seconds for food to decay by -1.