Functional Foods in the Marketplace: Willingness to Pay for Apples Enriched with Antioxidants

Armenak Markosyan, Thomas Wahl and Jill McCluskey

No 9787, 2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: The attention on so-called functional foods has been growing as consumers become more concerned with diet and nutrition. This article aims to measure consumers' response to apples with naturally enriched antioxidant coatings. Surveys were conducted in grocery stores in Seattle, Washington and Spokane, Washington. The results suggest that consumers have a somewhat positive attitude towards functional foods in general and with apples enriched with antioxidants in particular. A contingent valuation technique was used to assess factors affecting consumers' willingness to pay for the apples with antioxidant coatings. Consumers in the Spokane grocery stores are more likely to pay a premium for the new type of apples than consumers in Seattle. Consumers who look for a wide variety of product in choosing where to shop for food are more likely to pay a premium for apples enriched with antioxidants. Also, it is estimated that consumers, on average, are willing to pay from 4% to 8% premium for these apples.

Keywords: Demand and Price Analysis; Health Economics and Policy (search for similar items in EconPapers)
Pages: 27
Date: 2007
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea07:9787

DOI: 10.22004/ag.econ.9787

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