Is there a potential market for seaweed? A framed field experiment on consumer acceptance
Date
2019-12
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Department of Applied Economics and Statistics, University of Delaware, Newark, DE.
Abstract
Novel foods, such as seaweed, often meet resistance in consumer markets even
though their cultivation can largely benefit the environment. Therefore,
research in consumer acceptance is needed before launching a novel food
product into the market. We use a framed field experiment to investigate U.S.
consumers’ willingness to pay (WTP) for three seaweed products – seaweed
salad, kelp noodles, and a seaweed snack. The results suggest that there is a
potential market for seaweed food products in the United States as 35% of
participants chose to purchase at least one seaweed product. Demographic
variables matter in consumers’ choices. For instance, we found a negative WTP
premium for female shoppers and primary household shoppers and a positive
WTP premium for individuals who had a higher level of education and who
were interested in improving the healthfulness of their diets.
Description
Keywords
Novel foods, Seaweed, Willingness to pay, Framed field experiments