The Effect of Consumption Value of Alternative Protein Products on Self-Efficacy and Purchase Intention

Purpose: As the number of vegetarians continues to rise in tandem with the development of consumer culture, a novel economic trend named ‘Vegenomics’ has surfaced. In addition, as interest in social and environmental sustainability such as health, environment, and animal welfare grows due to the COVID-19 pandemic, the alternative protein food market is expanding, focusing on plant-based alternative meat. Research design, data, and methodology: Therefore, this study aims to investigate the impact of the consumption value of alternative protein products on self-efficacy and purchase intention. This study collected a total of 187 questionnaires by conducting an online survey from May 1 to July 10, 2023, to verify the research model and hypothesis. The collected data were subjected to exploratory factor analysis, confirmatory factor analysis, and discriminant validity analysis using SPSS 20.0 and AMOS 20.0 programs for structural equation modeling. Results: The results of analyzing consumers' self-efficacy and purchase intention regarding the functional value, health-oriented value, ethical value, and ecological value of alternative protein products are as follows. First, among the consumption values of alternative protein products, ecological value was found to have a significant positive (+) effect on self-efficacy. Second, consumers' self-efficacy for alternative protein products was found to have a significant positive (+) effect on purchase intention. Conclusion: This study is anticipated to provide valuable insights for the formulation of effective marketing strategies for alternative protein products and the development of products that align with consumer needs.