The Perception of Consumers Towards Microalgae as an Alternative Food Resource in Bangladesh: A Contingent Valuation Approach

Abstract

Faced with starvation and malnutrition, Spirulina may be considered an alternative potential food supplement in developing countries like Bangladesh. Building on the safety and broadly accepted use of algae as an alternative food resource in Bangladesh, this study aimed to evaluate the willingness to pay (WTP) for three kinds of algae food products: Spirulina tablet/capsule, Spirulina powder, and Spirulina supplement foods. A survey was conducted through online and in-person interviews among Bangladeshi adults by using contingent valuation (CV) method. The surveyor collected socio-demographic characteristics, knowledge, uses, acceptance, and attribute preference of Spirulina as a food supplement. Statistical tool ANOVA was executed to analyze and identify the influencing factors of Spirulina as a future food supplement. Among the 3000 respondents surveyed, 1533 (51.11%) stated that they would accept Spirulina as a food supplement, while others would accept Spirulina as a tablet/capsule (15.64%) and powder (33.43%), respectively. The average WTPs of Spirulina tablet/capsule, powder, and supplement are estimated to be US$ 4.18, US$ 3.66, and US$ 4.8, respectively. To introduce Spirulina food products in Bangladesh as a practical importance for the industrial production of algae-based food supplements, we present positive and welcoming public attitudes towards new food products that are safe, healthy, and affordable.