Consumer willingness to pay a premium for a functional food in Ghana
Interest in functional foods has been growing in sub-Saharan Africa due to consumer concerns with diet and nutrition. This paper analyses consumer awareness, perceptions and effects of the determinants of consumer willingness to pay (WTP) a premium for Moringa bread in Ghana. An ordered probit model...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
University of Debrecen
2017-06-01
|
| Series: | Apstract: Applied Studies in Agribusiness and Commerce |
| Subjects: | |
| Online Access: | https://ojs.lib.unideb.hu/apstract/article/view/6939 |
| _version_ | 1818141178430750720 |
|---|---|
| author | Farida Badu-Gyan Victor Owusu |
| author_facet | Farida Badu-Gyan Victor Owusu |
| author_sort | Farida Badu-Gyan |
| collection | DOAJ |
| description | Interest in functional foods has been growing in sub-Saharan Africa due to consumer concerns with diet and nutrition. This paper analyses consumer awareness, perceptions and effects of the determinants of consumer willingness to pay (WTP) a premium for Moringa bread in Ghana. An ordered probit model is employed. The empirical results indicate that consumer knowledge of the nutritional and health benefits of Moringa bread is what matters most to consumers in respect of their WTP a higher premium for the product. Consumers with knowledge on Moringa products are more willing to pay above 50% price premiums for Moringa bread. Fruitful policy recommendations are made in the paper.
JEL code: D12 |
| first_indexed | 2024-12-11T10:55:45Z |
| format | Article |
| id | doaj.art-11a867e01b5845de9a07517984108f66 |
| institution | Directory Open Access Journal |
| issn | 1789-221X 1789-7874 |
| language | English |
| last_indexed | 2024-12-11T10:55:45Z |
| publishDate | 2017-06-01 |
| publisher | University of Debrecen |
| record_format | Article |
| series | Apstract: Applied Studies in Agribusiness and Commerce |
| spelling | doaj.art-11a867e01b5845de9a07517984108f662022-12-22T01:10:04ZengUniversity of DebrecenApstract: Applied Studies in Agribusiness and Commerce1789-221X1789-78742017-06-01111-210.19041/APSTRACT/2017/1-2/7Consumer willingness to pay a premium for a functional food in GhanaFarida Badu-Gyan 0Victor Owusu1Department of Agricultural Economics, Agribusiness and Extension Private Mail Bag, Kwame Nkrumah University Science and Technology, Kumasi, Ghana Department of Agricultural Economics, Agribusiness and Extension Private Mail Bag, Kwame Nkrumah University Science and Technology, Kumasi, Ghana Interest in functional foods has been growing in sub-Saharan Africa due to consumer concerns with diet and nutrition. This paper analyses consumer awareness, perceptions and effects of the determinants of consumer willingness to pay (WTP) a premium for Moringa bread in Ghana. An ordered probit model is employed. The empirical results indicate that consumer knowledge of the nutritional and health benefits of Moringa bread is what matters most to consumers in respect of their WTP a higher premium for the product. Consumers with knowledge on Moringa products are more willing to pay above 50% price premiums for Moringa bread. Fruitful policy recommendations are made in the paper. JEL code: D12https://ojs.lib.unideb.hu/apstract/article/view/6939Functional foodsGhanaMoringa breadOrdered probit modelWillingness to pay |
| spellingShingle | Farida Badu-Gyan Victor Owusu Consumer willingness to pay a premium for a functional food in Ghana Apstract: Applied Studies in Agribusiness and Commerce Functional foods Ghana Moringa bread Ordered probit model Willingness to pay |
| title | Consumer willingness to pay a premium for a functional food in Ghana |
| title_full | Consumer willingness to pay a premium for a functional food in Ghana |
| title_fullStr | Consumer willingness to pay a premium for a functional food in Ghana |
| title_full_unstemmed | Consumer willingness to pay a premium for a functional food in Ghana |
| title_short | Consumer willingness to pay a premium for a functional food in Ghana |
| title_sort | consumer willingness to pay a premium for a functional food in ghana |
| topic | Functional foods Ghana Moringa bread Ordered probit model Willingness to pay |
| url | https://ojs.lib.unideb.hu/apstract/article/view/6939 |
| work_keys_str_mv | AT faridabadugyan consumerwillingnesstopayapremiumforafunctionalfoodinghana AT victorowusu consumerwillingnesstopayapremiumforafunctionalfoodinghana |