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Analysis on the Consumers’ Preferences for the Companion Animal Feed

As the number of companion animals increases, the pet food industry is growing rapidly in Korea. The objective of this study is to identify consumers’ preferences for companion animal feed attributes by using choice experiments. It was analyzed that the feed consumers are more satisfied with the following factors: lower price, organic materials, functional food materials, domestically produced feed, non-allergic and meat-based ingredients. According to the results of measuring consumers’ WTP for feed attributes, feed using organic material is the highest at KRW 7,438.Allergen-free feed is KRW 6,058, and domestic feed is KRW 2,459. Functional feeds are lower than other attributes of KRW 1,491, and KRW 3,581 and KRW 5,039 are more likely to be paid than seafood and vegetables when the main ingredient of the raw material was composed of meat. As a result of the estimation of latent class models, Group 1 prefers the lower feed price and the mixed ingredient. On the other hand, groups 2 and 3, which are relatively low in age, prefer feeds with various attributes, and Group 2, in particular, has the characteristic of purchasing high quality feeds even at higher prices.