According to the UN, the total fertility rate in the world has been going down constantly since the 1950s (https://en.wikipedia.org/wiki/Total_fertility_rate). This means that people are having less and less kids. The total fertility rate for 2010-2015 was 2.36. If I understand correctly, when the fertility rate is at 2.0, this means the population no longer grows, since there are usually about 1 man for each woman. If each woman has two children the population stays about the same. In some countries these numbers are much higher, but even there the numbers are going down. In many countries, populations have negative growth due to this. I don't think the world population will continue to "balloon". Food is not going extinct.