Consumer preferences toward new circular bioeconomy agri‐food products

Abstract The integration of circular bioeconomy (CB) principles into food production is key for a sustainable food sector. This research analyzes consumers' preferences for food products that include CB‐related attributes; namely, zero (plastic/bio) waste generation, carbon neutrality, sustainable water use and soil management, biodiversity conservation, and contribution to the rural economy. A novel approach is applied, combining best‐worst scaling choice experiments with contingent valuation and using a scale‐adjusted latent class model specification. The results reveal consumers have intense preferences for CB attributes in food, especially those related to plastic waste management, sustainable water use, rural development, and biodiversity. Four different consumer classes are identified according to their preferences toward CB attributes (Eco‐multifunctionals, Utilitarians, Sustainable agrarians, and Circulars—the latter two newly identified here). Willingness to pay varies by attribute and class. Relevant implications are drawn for businesses, especially about potential differentiation marketing strategies.