By Lynda Kiernan, Global AgInvesting Media

In February 2019 Israeli startup Tastewise announced the launch of its AI-powered intelligence platform designed to predict rapidly changing food trends and consumer tastes. 

Historically, restaurants would change their menu every few years, and new food product launches would be tied to focus groups and questionnaires that would lack “food insight at speed”, creating a lag for packaged good companies.

But Tastewise, which was founded by former Google exec Alon Chen, and Eyal Gaon, is able to “capture food innovation in real time”, giving industry professionals, and investors in the space, the ability to be ahead the curve. 

“Trends and consumer insights need to be a lot more dynamic in the food industry because otherwise there is going to a be lot of missed opportunities,” Chen told Food Dive in 2019. “If it will take you six months to run a survey and then, based on the survey, analyze it and then get insights, and only then go for production or change your menu, then all of this planning, you are building for a trend that already happened six months ago.”

Today, the internet and social media have created an accelerated globalization and heightened consciousness in regard to how consumers relate to their food choices, and the food choices linked to those views. Tastewise brings to bear the power of real-time data based on more than five billion social interactions, four million online recipes, and the largest restaurant database available, consisting of 541,000 restaurant menus.

One year after launching its platform, Tastewise has released its latest report, Functional Foods: What’s New in the Era of Functional Foods? – a valuable resource that can help those in the global food and beverage industry develop and prioritize new product launches with reduced time-to-market windows; create marketing strategies that offer deeper brand relevance and greater customer engagement; gain a deeper understanding of consumer and industry trends; and boost sales. 

Tastewise has found that:

~ Today, one half of all conversations about food mention functional foods, compared to one-third of all conversations in September 2019.

~ The percentage of consumers who want functional benefits from their foods has risen from 37 percent in September 2019 to 51 percent today.

~ The fastest growing function being looked for in foods is medicinal, as consumers seek out Eastern spices for their health and immunity properties.

~ And gut health continues to be a concern, with interest climbing by 41 percent year-over-year.

COVID-19 and the global pandemic has only served to reinforce consumer interest and raise awareness in functional foods, as certain ingredients are trending, such as:

Algae – which has seen interest grow by 105 percent based on its ability to help to stimulate beneficial bacteria in the gut, and to boost the body’s ability to absorb nutrients.

Pomegranate – has seen interest grow by 100 percent for its ability to reduce inflammation of the gut and to improve digestion. It also may be beneficial for individuals with bowel disorders and conditions.

And Apple Cider Vinegar – which has seen interest climb by 38 percent due to its natural laxative properties that can improve digestion, decrease bloating, and detoxify.

Access the report here.

– Lynda Kiernan is editor with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, and HighQuest Group’s Oilseed & Grain News. She is also a contributor to the GAI Gazette. She can be reached at lkiernan@globalaginvesting.com.