Updated: Feb 17, 2020
Data is eating the world. It’s giving new meaning to the 200 year old quote….
“Tell me what you eat and I shall tell you who you are.” -Jean Anthelme Brillat-Savarin
Between the rise of food and beverage startups, shifting consumer preferences, and moves by incumbent brands to adapt, the food and beverage industry is undergoing unprecedented change. Food startups, including early-stage entrants like Augmented Insights, Gastrograph, Label Insights and FoodPairing have begun to use big data and machine learning to design products faster.
Food industry leaders face a multiple threats: retail competition via private label products, smaller brands stealing market share, and more. Major food manufacturers turn to innovation to help them adapt. However, innovation is easier said than done, so let’s take a look at the innovation and trends we see continuing in 2020 and how Augmented Insights adds value.
Brands are beginning to embrace plant protein to meet the shifting consumer needs and perceptions in meat and dairy. Beyond Meat, the plant based meat manufacturer had one of the most successful IPOs in the NYSE history in 2019. The trend has also arrived in coffee, vitamins and milk.
How we help: Design meat free products at the speed of thought using our culinary knowledge graph. Build prototypes starting with over 1.5k unique ingredients to see where they fit in the market.
Amid the “retail winter,” retailers are succeeding with their private label offerings, aiming to increase margins and strengthen shopper loyalty. Private labels represent one of the more dominant food & beverage trends, and are a growing threat to traditional CPG brands.
How we help: We give you on demand access to our private label product database and millions more nutritional and clean label insight data points that inform your in-store and e-commerce portfolio strategy.
Voice Interface & Commerce
We’re bullish on voice as an interface for commerce despite shoppers having yet to bite with only 2% of Alexa users using it to shop. Outside of shopping use cases, we also think there’s natural benefits to having a voice interface that provides ingredient and product data in the lab.
How we help: Our data is organized and stored using the same technology that serves as the engine for Amazon Alexa and Google Assistant. Use our data to jump start your voice and e-commerce initiatives.
Personalized Food Products
Personalization has been mostly an aspiration for many food manufacturers, but now emerging technology such as knowledge graphs are making it more practical to implement. Tools like graph algorithms, big data, and machine learning can help companies better understand consumer needs.
How we help: Using our data and applied machine learning expertise we build recommendation systems that can help select the products best-suited to each shopper.
Use our data to jumpstart all of the above initiatives and more. Our Kiwi Metrics platform gives you on-demand access to millions of food and beverage product data points.
See it in action here:
Case Study: Redesign an existing private label product
Case Study: Design a new product line