Investigating trends in consumer preferences and willingness to pay for lamb and goat meat: A case study from Florida

Abstract

AbstractConsidering the growing demand for healthy and environmentally conscious food products in the United States, lamb and goat meat have proved to be beneficial alternatives to other red meats. This study investigates consumer trends and preferences for lamb and goat meat in Florida and sheds light on regional preferences for these products, providing groundwork for further studies. An online survey was conducted using 924 primary shoppers in Florida. Respondents were asked questions regarding demographic characteristics, behavioral qualities, and attributes associated with meat‐buying consumers. A contingent valuation method was used to derive willingness‐to‐pay (WTP) estimates by having participants report the maximum price they would pay for one pound of shoulder cut from lamb or goat. This study focuses on WTP for lamb/goat meat and uses Tobit regression analyses to test relationships between WTP and the consumer attributes described. Various regression specifications were estimated in the analyses to examine the robustness of significant correlations. Results surrounding the consumer WTP were similar for lamb and goat meat, showing that: (1) adventurousness when tasting food is positively correlated with WTP, (2) younger generations (Millennials and Gen Z) tend to have a higher WTP than older generations (Baby Boomers and the Silent Generation), (3) having tasted/liked lamb/goat meat previously both seem to positively influence WTP, (4) importance of access to culturally significant food products is positively correlated with WTP for lamb meat only, and (5) identifying as Hispanic had a negative correlation with WTP for goat meat only.