Abstract
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.
Highlights
The phrase “You are what you eat” was always referred to in the context of consumer health and diet [1,2]
The estimated results shown in the previous section indicate the effects of trends, technology, and market concentration on general health and wellness food consumption
Following the share of health and wellness food consumption mentioned in Section 3.2, high consumption countries in fortified/functional food were Japan, China, Indonesia, and
Summary
The phrase “You are what you eat” was always referred to in the context of consumer health and diet [1,2]. The higher the healthy food consumption, the better the consumer health. Healthy food symbolizes good nutrition, healthy quality of life, social appeal, food literacy, wealth, and policy governance on food safety and security [3,4,5,6,7,8,9,10]. The higher the healthy food consumption, the better the health and human well-being. The physical and mental activities supporting health improvements show health trends defined in this study. Thereby, healthy food has become an indicator of sustainable development
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