Monitoring consumer trends is an integral part of market research for food and beverage brands. This is because the food and beverage industry is heavily customer-centric. For both start-ups and existing businesses in this field, vying for the consumer’s attention and getting rave reviews hold the top priority. Contemporary food insights and trends are instrumental in understanding the latest consumer psyche and preferences. To traverse an unpredictable marketplace, food AI and data analytics experts are assisting brands with demand forecasting and consumer trends prediction.
Top 4 Spoonshot Market Insights
In the realm of food Innovation, AI, and data analytics, Spoonshot is hailed as an industry leader. Their team has been a guiding light for hundreds of leading food and beverage start-ups across the globe. Here are their top data-driven food insights and consumer trends for 2022:-
•Massive Demand for Plant-based Food and Beverages
Currently, the average consumer is far more environment-conscious and health-conscious than before. This has led to a direct willingness to try out new tastes, flavours, and satiety as far as plant-based food is concerned. Growing lactose intolerance and ethical concerns have also contributed to this rising trend of vegetarianism. This willingness to let go of familiar, conventional tastes and an experimental palate for healthy, sustainable plant-based food and beverages is a goldmine for food start-ups today.
•Fermented Delicacies are being sought-after
As part of the rising health-consciousness, the focus on great gut-health has been paramount. Ever since the Covid-19 pandemic struck, consumers have been rushing towards probiotic fare like yogurts, fermented coffee, lactobacillus-infused sodas, Kimchi, Miso, Tempeh, and so on. The fermented food and beverage industry has grown by leaps and bounds. Particularly in the North American market, fermented food innovation has met a tremendous positive response. Consumer trends in Asian countries are also promising, considering that a lot of native, fermented specialties are already a part of their traditional diets.
•Exotic is out, native is in
In the wake of the pandemic-induced shutdowns, consumers had no choice but to rely on seasonal ingredients available locally. Surprisingly, this short-lived phase has become a long-lasting trend. The demand for exotic, imported foods has gone down, while that of fresh produce has gone up.
•Convenience is the Key
From canned cocktails, tea, and coffee, to customized takeaways and prepped gourmet meal hampers, the modern-day consumer is looking for convenience. While convenience food and beverages have been popular in the US, Canada, and Europe, the post-pandemic phase in most Asian countries is witnessing a strong demand.
The Road Ahead
Despite the myriad logistical and infrastructural challenges, the ultimate test for any food and beverage company is to cater to the exact needs of the consumer. Food innovation is all about being intuitive and monetizing the right consumer trend at the right time. It doesn’t matter what kind of business you run- food production, processing, beverage manufacturing, transportation, marketing, or food and beverage service. All segments of the global food and beverage industry are reliant on data science and statistical factoring to ensure higher sales and profitability.