Consumers are willing to pay 22% above the base price for the attribute "food safety," according to a recent study.
Additional findings showed:
When on-farm traceability is available, consumers appear willing to pay a premium of nearly 17% over the base price. The attribute "animal welfare" elicits a premium of 14% over the base price, showing consumers' interest about the life quality of domestic animals. European consumers are, on average, willing to pay more for meat traceable attributes than are North American consumers.
Consumers frame the subject in various ways they may find valid, such as:
-Morally (Is it justifiable?)
-Economically (What does it cost?)
-Socially (Who benefits?)
-Politically (Who controls it?)
-Aesthetically (Does it make food more pleasing to the senses?)
-Scientifically (Is it safe?)