A short review on willingness to pay for novel food

Alternative proteins, especially plant- and insect-based proteins, are becoming very popular in recent years for adapting and facing the future challenges of food production and consumption. In the European Union (EU) regulation, a “novel food” is defined as a newly developed, innovative food; a food produced using new technologies and production processes; or a food that is or has been traditionally eaten outside of the EU and has not been consumed within the EU to a significant degree (The European Parliament and the Council of the European Union, 2015). Today, it is necessary to understand the consumers’ perception about these products, considering especially economic aspects such as willingness to pay for this category of products. Willingness to pay (WTP) is a monetary measure of the utility perceived by individuals for a specific good/service or for specific attributes. Through a literature review, this work aims to understand the most important factors affecting the consumers’ perception and WTP for novel food.