Willingness to Pay for Bioplastic Packaged Home Meal Replacement

The purpose of this study is to estimate the economic value of bioplastic packaged Home Meal Replacement (HMR) using respondents’ willingness to pay (WTP). In particular, how much consumers are willing to pay if bioplastic packaging is used for HMR lunch boxes that commonly use plastic packaging was answered. A total of 208 respondents with experience in purchasing HMR were surveyed online using the Contingent Valuation Method (CVM). This study uses double-bounded dichotomous choice to reduce errors and increase statistics’ efficiency. According to this analysis, the CVM estimates the consumer value of the bioplastic packed lunch boxes’ premium is 11.4% higher than regular plastic packed lunch boxes. Additionally, the respondent's gender and the type of HMR products they frequently purchase affect the WTP value. This study’s results serve as referential data on investments in eco-friendly materials for food enterprises marketing decisions.