Abstract
In Korea, fishery managers, eco-labeled program operators, and the government need detailed information regarding individual-level preferences for eco-labeled seafood. This study aims to identify the determinants of consumer preference for such seafood. Specifically, an ordered probit model is estimated by using micro-survey data obtained from interviews of 2773 randomly selected Korean households. Overall, the estimation results reveal that the chosen model is appropriate to analyze consumer preference for eco-labeled seafood. The coefficients of consumption frequency, the importance of price, the confirmation of origin, residential area, and household income are statistically meaningful. If consumers consider price an important factor, their consumption of eco-labeled seafood may decrease. Moreover, consumers with interest in the origin of seafood are more likely to accept eco-labeled seafood. To increase the consumption of eco-labeled seafood, it is recommended to develop products designed specifically for segmented markets and promote functional features. The findings can provide a valuable guideline to marketing managers and policy makers for designing effective strategies regarding eco-labeled seafood.
Highlights
According to the Food and Agriculture Organization [1], global fish production reached 171 million tons in 2016, with aquaculture accounting for 47% of the total produce
The result that the estimated threshold parameters are statistically significant at the 1% level implies that the ordered probit model is appropriate in this context
The survey gives an indication of respondents’ preferences for eco-labeled seafood in Korea, as it is successful in eliciting the marginal effects for consumption preference attributes
Summary
According to the Food and Agriculture Organization [1], global fish production reached 171 million tons in 2016, with aquaculture accounting for 47% of the total produce. Capture fisheries depend on natural stocks, which are often overexploited. The concern about the overexploitation of natural stocks has resulted in several eco-labeling initiatives in resource-based industries [3]. To offer incentives for fishery managers who operate sustainable fisheries, various programs for eco-labeling seafood products have been suggested. Through eco-labeling, the MSC has tried to make a contribution to the soundness of the global oceans by recognizing sustainable fishing practices and influencing consumers’ choice of seafood. The Aquaculture Stewardship Council was established in 2010 as an international non-profit organization that manages the leading certification and labeling program for responsible aquaculture. There has been a growing consensus in Korea that eco-labeling should be actively adopted as a new resource management tool based on consumer preferences [5]
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
