Work

Willingness to Pay and Market Potential for BioWRAP: An Economic Study of a New Biodegradable Mulch Product in Home Gardening

Year: 2024

Type: article

Abstract: This study explores the market potential of BioWRAP, a biodegradable sprayable weed suppression product, by assessing the willingness to pay (WTP) among American home gardeners. Traditional plastic mulch offers significant agronomic benefits but poses considerable environmental challenges, making BioWRAP a promising alternative due to its similar benefits and reduced environmental impact. Using a double-bounded contingent valuation method, we analyze the WTP for BioWRAP among different demographic groups and gardening practices. Our findings indicate that the highest WTP for BioWRAP is among home gardeners who currently use chemical sprays for weed suppression, followed by those using physical barriers, with the lowest WTP among those who rely on physical labor. Additionally, greater environmental concerns positively correlate with a higher WTP for BioWRAP. This study offers valuable insights into consumer preferences and market strategies for promoting biodegradable mulch products in the American home gardening market. Advisor: Karina Schoengold

Source: Lincoln (University of Nebraska)

Author: Cai, Gengchen

Language: English

Topic: Economic and Environmental Valuation

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Responsible consumption and production

Open Access status: green

Funder: National Science Foundation

Award: RII Track-2 FEC: BioWRAP (Bioplastics With Regenerative Agricultural Properties): Spray-on bioplastics with growth synchronous decomposition and water, nutrient, and agrochemical m

OpenAlex ID: W6988120847