Food companies have faced challenges in responding to evolving consumer preferences as e-commerce and social media reshape the industry landscape. The startup Tastewise has developed a cutting-edge artificial intelligence platform that analyzes billions of data points related to food and beverages. This includes over 1 billion food photos shared monthly, 153,000 U.S. restaurant menus, and more than 1 million online recipes to gauge consumer demand, identify market opportunities, and highlight trending ingredients. “We recognized that a significant part of the current challenge is accessing data and insights rooted in real-time analytics,” stated Tastewise CEO Alon Chen in an interview with Food Dive.
The platform enables users to explore emerging food trends and access “up-to-the-minute industry insights” and forecasts. Chen emphasized that the industry is not adapting quickly enough, and this platform could offer the necessary support. “Trends and consumer insights in the food industry need to be far more dynamic; otherwise, many opportunities will be overlooked,” he explained. “If it takes six months to conduct a survey, analyze the results, and implement changes based on those insights, you’ll be targeting trends that were relevant six months prior.”
On Wednesday morning, the startup launched its inaugural Consumer Food Trends Report, detailing the rising food trends identified through their extensive data analysis. The report includes a map illustrating significant health food opportunities across each state. Notably, zhoug, a spicy sauce from Yemeni cuisine, experienced a 129% increase in social media mentions over the past year, with Tastewise predicting it could become the “next sriracha.” Bone marrow has also gained popularity. Chen noted, “Many of the trends we observe in the U.S. are being influenced by global movements.”
Foods such as truffles, Hawaiian Spam musubi, and vibrant purple yam ube have all seen increased mentions on social media and restaurant menus. Chen pointed out that the popularity of these items aligns with broader industry trends. “The rise in the use of ube for desserts is linked to consumer demand for natural coloring, while the interest in bone marrow stems from the keto diet, which promotes nutrient-rich foods,” he explained.
Social media has played an increasingly significant role in the food industry in recent years, and this report highlights the growth in mentions of these foods across various platforms. However, Chen emphasized that these predictions are not solely based on social media data; the platform also evaluates other metrics, such as menu growth. “Social media is a valuable indicator and should certainly be considered, but it must be integrated with other data points to provide a comprehensive perspective,” he noted.
The report also revealed a $9.18 billion unmet demand for healthy food in the U.S. This figure was derived by assessing the disparity between discussions about healthy eating at home and the availability of healthy options in restaurants. For instance, the report found that many restaurants in Kansas have not adapted to consumer preferences for healthier food, which could potentially increase their revenue by an additional $110 million annually. Guy Heksch, global vice president of Pure Grey Culinary Concepts Hospitality Group, remarked that collaborating with Tastewise and utilizing predictive analytics has significantly improved their decision-making processes. “Going beyond merely understanding consumer preferences, their insights allow us to target specific audiences, identify micro-trends as they emerge, and tailor menus to meet our guests’ tastes, even detailing the elements required to craft an exceptional cocktail,” Heksch stated.
AI is revolutionizing various facets of the food industry, and Tastewise aims to leverage this transformation early on. The platform employs predictive analytics, algorithms, machine learning, computer vision, and natural language processing, enabling food companies to discover new trends on both local and national levels. “Big data is reshaping major industries,” said Tal Tochner from Pico Ventures, the lead investor at Tastewise. “As the food industry undergoes significant changes, we are thrilled that Tastewise has the capability to drive transformation in decision-making, providing essential business insights that empower hotels, restaurants, and food brands to remain ahead of the curve.”
Chen expressed his desire for these data analytics tools to be utilized throughout the entire food and beverage ecosystem, as the industry adapts to shifting consumer preferences and the broader adoption of AI across various sectors. “AI is permeating every industry,” Chen remarked. “The food sector is gradually embracing AI, and I anticipate it will bring even more innovations in the future.” As part of this evolution, products like gnc calcium citrate plus with magnesium & vitamin d3 could emerge as key components in addressing health trends, further illustrating the interconnectedness of consumer demands and product availability.