Consumer Willingness to Pay for Farmed Seaweed with Education on Ecosystem Services

Abstract

Kelp aquaculture in the US is expected to grow significantly in the coming years. While the market potential is substantial, increasing demand is widely seen as a key step towards realizing this potential. Recent work on restorative aquaculture practices has led to increased study and valuation of ecosystem services of kelp aquaculture. This study demonstrates the efficacy of education on ecosystem services of kelp aquaculture as marketing material for kelp end products. Through an online willingness to pay survey, this study found a significant increase in consumer willingness to pay for end products after a brief education on ecosystem services. Price point of the product, income, gender, knowledge of ecosystem services, and frequency of kelp product consumption were found to be significant predictors of the magnitude of change in consumer willingness to pay. Of the four major categories of ecosystem services, supporting services were reported to be most important to consumers. These findings can guide private and public organizations in marketing efforts to drive consumer behavior and to actualize the large potential of kelp aquaculture in the US.