Consumers´ Willingness to Pay for Snacks Enriched with Insects: A Trending and Sustainable Protein Source

High-protein snacks appeal to consumers seeking to increase the protein intake in their diet. The high environmental impact of conventional protein sources is urging the need to explore more sustainable alternatives such as edible insects. In this study, the willingness to pay for yogurt enriched with insect protein was estimated. It also determined the effect of socio-demographics and extrinsic product attributes on the purchase decision and expenditure using the Heckman sample selection model. Data was collected through an online survey from 1909 consumers in Catalonia, Spain using Qualtrics´ consumer panel. The results showed that 55.7% of the participants were willing to purchase the product and that the average premium price computed was 0.36€ or 24% extra compared to the conventional price of yogurt. Findings also revealed that the probability of purchasing yogurt enriched with insect protein increases with younger adults, male consumers, residing in rural areas, having a child member in the family unit, and an active employment situation. Moreover, expenditure increases when the importance of the local and ecological attributes of food is higher, while lower for the price attribute. The results of this study offer food producers valuable insights into consumers’ willingness to pay for novel protein snacks.