Food companies have the ability to develop a wide variety of analyses with the help of consumer and competitor food intelligence. It can be used for everything from analyzing the latest flavor trends in a specific market to helping position new packaged foods in a way that will be able to elicit the best responses from consumers.
In our analysis, Best-Hashtags.com has found that these hashtags represent just a few examples of the most common food-related hashtags that have been used on social media. Food is fast becoming one of the top topics shared on Instagram, directly behind selfies, according to figures provided by the Association for Computing Machinery.
It is essential to examine the way consumers interact with food online in order to understand how consumer preferences correlate with data.
- It is estimated that over 99% of millennials, as well as a large proportion of the Gen Z participants in the study, plan to make their dining decisions based on social media in the future
- In order to leave a review for the restaurant they have visited, consumers use Facebook. As one of the most popular platforms for social networking, Facebook has millions of users worldwide.
- Since Twitter is the most dominant platform for consumers to express their opinions about food and beverage brands, it is more likely for consumers to express their opinions here than anywhere else
- It is estimated that around half of the respondents to the study admit that they have tried a new restaurant as a result of a social media post that they found while on their computers or smartphones
Here is just a sample of a portion of a piece of the web (social media), which represents a particular segment of the market: restaurants. We are now able to analyze data from a broader range of sources (e.g., marketplaces, search engines) and sectors (e.g., food vendors, online grocers) than was ever thought possible before using deep data analytics and insights. Let’s take a closer look.
Data-driven Gastronomy: What Is The Food Industry Cooking Up?’
In the aftermath of the Covid-19-imposed restrictions and quarantine restrictions, a significant increase has been seen in the number of restaurants using their ‘digital format,’ including online ordering, and the number of take-outs and deliveries has also increased. Food vendors who were unable to adapt to the digital age were no longer able to survive. Today, consumers are likely to turn to online dining options rather than going to a physical dining establishment for the sake of more secure options.
Whether or not you are working on a project related to the pandemic or not, if you are involved in a project related to any one of the following:
- It is also important to understand the marketing of a new packaged food product and how it is positioned in the market
- The analysis of market-specific consumer flavor trends in the food industry
- It is crucial that we establish a distribution network, identify potential buying signals, and perform a location analysis in order to establish a reliable distribution system
- In addition, a software program that automates prospecting in restaurants creates behavior models for consumers and analyzes category trends in real time can also be implemented
Food Intelligence Can Benefit From Competitor-generated Datasets
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Menu Monitoring
Across the world, the vast majority of restaurants have scanned and uploaded digital copies of their menus either directly into the food delivery apps or directly onto their own websites – whether through a food delivery app or directly onto the restaurant’s own website. It is easy to map the state of a food market, either at a micro or macro level, when you have the ability to select the types of locations (such as London) and product categories (such as Asian) that you are most interested in.
Taking a look at these data over a period of time, we can see which dishes are affected by replacement and which dishes are holding on to their place. A ‘high-value evergreen dish’ is one that is targeted at a specific geographic audience that reflects the value of long-term sustainability.
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Keeping track of recipe engagement
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It is a good idea to involve consumers in creating recipes in order to gain a better understanding of consumer trends. There is no doubt that a YouTube channel, YouTube video, or YouTube influencer that has a high number of views, shares, and click-through rates, such as YouTube channels, YouTube videos, or YouTube influencers, will have a significant impact on your brand.
Ideally, if you have the time to thoroughly analyze these datasets as a member of the marketing department, you will be able to work with these content creators as well. There is a possibility that if you are developing a new product, you may include an ingredient that was previously unidentified. It might be appropriate to use this information if you are responsible for designing the packaging for an item. When you are in charge of packaging, if you are in charge of the recipe, you can prominently display it on the packaging. Proxy Crawl makes it incredibly easy to scrape crawl data by using a few easy steps.
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Trends in review/search
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It is common for the foodie journey to begin online and other buyer journeys; the foodie journey tends to begin online and online purchases too. Consider someone trying to find the “best Chinese in NY” on a search engine or asking for “reviews on Italian restaurants in Paris” on social media. It is possible to collect, monitor, analyze, and monitor keywords as well as consumer reviews in order to assist digital marketers in better targeting their audiences on the Internet.
It has been shown in several studies that negative reviews of delivery can be an opportunity for competitors to make targeted improvements to increase their market share in the near future. It is possible for content managers to use longtail keywords to write articles about Rome dining on a shoestring using longtail keywords, which will capture targeted attention and drive traffic to the website.
Food Trends To Watch in 2022
In a number of articles, published in the October issue of Food Technology Magazine, the following information is summarized in an attempt to provide insight into the process of identifying consumer trends through the study of data:
1. Plant-based
In the U.S., on average, 25 percent of adults consume meat and poultry that are made from plants as an alternative to beef and chicken. There is no doubt that by 2024, sales of these products will have grown from $1.3 billion (in 2020) to $2 billion (in 2024). In the dairy product category there will be double-digit growth of at least 10% after beef alternatives, poultry alternatives, and seafood alternatives.
It is expected that the dairy products such as milk, ice cream, yogurt, creamers, and cheese will witness double-digit growth. The data suggests there is some room for growth and a high demand for companies that can offer a wide variety of snacks and desserts that can satisfy veggie-crazed consumers.
2. Food-healing
In spite of the fact that consumers are becoming increasingly interested in healing their ailment by adopting a healthier diet, there’s no doubt this is the case. According to the market research conducted by Statista, 33.3% of Americans are more likely to purchase food or drink if it has several health benefits, and 50% of consumers search for foods that can reduce stress and anxiety. In addition to enhancing their sleep pattern, energy levels, and improving their skin, some of the most common goals people have are all related to improving their health.
In the year 2022, data indicates that superfood trends will put:
- Blueberries
- Green tea
- Seeds
- Avocado
- Spinach/kale
- nuts
- Salmon
The ‘food healing’ category is at the top of the consumer’s list.
Final Remarks
If you want to launch a new food product, it can be highly effective to understand what people want as part of real-time trends. There is no doubt that learning new recipes that increase consumption frequency and generate brand engagement can be vital to establishing yourself as a powerhouse in your field. The results of the business outcomes and the competitive analysis from a purely data perspective will be only one part of the equation. Understanding your competitors and how they market will also have a considerable part to play in determining whether or not your product or service is likely to trend over the coming year.
