Real-time analysis and predictability of the health functional food market using big data

Sang-Soon Kim; Seokwon Lim; Sangoh Kim

doi:10.1007/s10068-021-00999-5

Real-time analysis and predictability of the health functional food market using big data

Food Sci Biotechnol. 2021 Nov 26;30(13):1667-1674. doi: 10.1007/s10068-021-00999-5. eCollection 2021 Dec.

Authors

Sang-Soon Kim¹, Seokwon Lim², Sangoh Kim³

Affiliations

¹ Department of Food Engineering, Dankook University, Dandae-ro 119, Dongnam-gu, Cheonan-si, Chungcheongnam-do 31116 Republic of Korea.
² Department of Food Science and Biotechnology, Gachon University, Sungnamdero 1342, Sungnam-si, Gyeonggi-do 13120 Republic of Korea.
³ Department of Plant and Food Engineering, Sangmyung University, Sangmyeongdae-gil 31, Dongnam-gu, Cheonan-si, Chungcheongnam-do 31066 Republic of Korea.

Abstract

This study conducted a real-time analysis of the health functional food market using big data. To assess the scope of big data in market analysis, big data of the health food category were compared and analyzed with actual market data. Data were first collected using a program to obtain data, through application programming interfaces, followed by SPSS to compare and analyze the actual market index and shopping search word data. The correlation between the online search data and the actual market was high, indicating that online search data can be used to predict the trend of the actual market. Various types of data, such as items and major functional ingredients, can be collected and analyzed through the program developed for this study, which is also used to predict the market trend. The results demonstrate how APIs can be used to predict market size in the food industry effectively.

Keywords: Application programming interfaces; Big data; Health functional food; Online shopping; Programming.