Consumer Acceptance of Functional Foods in Ho Chi Minh City
Keywords:Functional food, Consumers acceptance, Binary-probit, Knowledge, Health.
The aim of this paper is to identify and evaluate the underlying factors affecting consumer acceptance of functional foods. The contribution of this study is to better understand customer willingness to buy such products in Ho Chi Minh City by shedding light on how socio-demographic, cognitive and attitudinal determinants affect consumer's choices of foods. We conducted a survey using 217 respondents from Ho Chi Minh City. Next, we develop a binary-probit model to quantify the impact of each factor on consumer acceptance. The results show that having a sick relative, beliefs in health benefits positively affect acceptance level. Other than that, old people in Ho Chi Minh City tend to reject the use of functional foods. However, when they are provided with enough knowledge, they are the most intensive buyers of these products. Implications and further researches are also discussed.