Household income as a factor forming potential demand on the market of organic products

Abstract

The article analyzes the situation of households in terms of income, expenditure, food quality, consumption of individual products and to assess the potential development opportunities for organic products market. A clear correlation was established between the level of household income and the level of food consumption in both monetary and physical units. For the first time, the level of discrepancies in income and food consumption between households was assessed using the t-test method of comparison of averages, which allowed establishing statistically a significant difference between groups in these indicators. The assessment of the impact of household income on the level of expenditures and consumption of certain types of food products has been further developed with the identification of promising focus groups for consumers of organic products. The practical value of the results is that the identification of patterns allows to predict further trends in the level of consumption of certain types of food, particularly organic.