Open Innovation and Business Model of Health Food Industry in Asia
Health trends and digital technologies are of great significance for the health and wellness food market and its development in the future. This study examines whether health trends, digital technology, and market concentration influence health and wellness food consumption in the Asian market. Our...
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| Format: | Article |
| Language: | English |
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Elsevier
2021-07-01
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| Series: | Journal of Open Innovation: Technology, Market and Complexity |
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| Online Access: | https://www.mdpi.com/2199-8531/7/3/174 |
| _version_ | 1827613845010513920 |
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| author | Nathapornpan Piyaareekul Uttama |
| author_facet | Nathapornpan Piyaareekul Uttama |
| author_sort | Nathapornpan Piyaareekul Uttama |
| collection | DOAJ |
| description | Health trends and digital technologies are of great significance for the health and wellness food market and its development in the future. This study examines whether health trends, digital technology, and market concentration influence health and wellness food consumption in the Asian market. Our analysis uses a panel dataset covering 14 Asian economies from the period 2006–2020 and a panel quantile regression technique with non-additive fixed effects. The results reveal that health trends and digital technology have positive and significant impacts on health and wellness food consumption, whereas the concentration of distribution channels has a negative and significant impact. These results also offer insights into each type of health and wellness food consumption, thereby contributing to the health and wellness food market development. Finally, this study suggests the health and wellness food business development through a consumer-driven open innovation strategy. |
| first_indexed | 2024-03-09T08:45:27Z |
| format | Article |
| id | doaj.art-fd8c4bc426b84b38a5788eb97ca5ff37 |
| institution | Directory Open Access Journal |
| issn | 2199-8531 |
| language | English |
| last_indexed | 2024-03-09T08:45:27Z |
| publishDate | 2021-07-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Journal of Open Innovation: Technology, Market and Complexity |
| spelling | doaj.art-fd8c4bc426b84b38a5788eb97ca5ff372023-12-02T15:39:58ZengElsevierJournal of Open Innovation: Technology, Market and Complexity2199-85312021-07-01717417410.3390/joitmc7030174Open Innovation and Business Model of Health Food Industry in AsiaNathapornpan Piyaareekul Uttama0Office of Border Economy and Logistics Study (OBELS), School of Management, Mae Fah Luang University, Chiang Rai 57100, ThailandHealth trends and digital technologies are of great significance for the health and wellness food market and its development in the future. This study examines whether health trends, digital technology, and market concentration influence health and wellness food consumption in the Asian market. Our analysis uses a panel dataset covering 14 Asian economies from the period 2006–2020 and a panel quantile regression technique with non-additive fixed effects. The results reveal that health trends and digital technology have positive and significant impacts on health and wellness food consumption, whereas the concentration of distribution channels has a negative and significant impact. These results also offer insights into each type of health and wellness food consumption, thereby contributing to the health and wellness food market development. Finally, this study suggests the health and wellness food business development through a consumer-driven open innovation strategy.https://www.mdpi.com/2199-8531/7/3/174health trendsdigital technologymarket concentrationhealth and wellness foodopen innovationpanel quantile regression |
| spellingShingle | Nathapornpan Piyaareekul Uttama Open Innovation and Business Model of Health Food Industry in Asia Journal of Open Innovation: Technology, Market and Complexity health trends digital technology market concentration health and wellness food open innovation panel quantile regression |
| title | Open Innovation and Business Model of Health Food Industry in Asia |
| title_full | Open Innovation and Business Model of Health Food Industry in Asia |
| title_fullStr | Open Innovation and Business Model of Health Food Industry in Asia |
| title_full_unstemmed | Open Innovation and Business Model of Health Food Industry in Asia |
| title_short | Open Innovation and Business Model of Health Food Industry in Asia |
| title_sort | open innovation and business model of health food industry in asia |
| topic | health trends digital technology market concentration health and wellness food open innovation panel quantile regression |
| url | https://www.mdpi.com/2199-8531/7/3/174 |
| work_keys_str_mv | AT nathapornpanpiyaareekuluttama openinnovationandbusinessmodelofhealthfoodindustryinasia |