Analysis was used in the study in order to investigate if the price elasticity evaluations mentioned in the literature are numerically relatively equal and if not, to describe the deviation in the elasticities so that one may be able to make some conclusions. Considering the fact that the aim of the study was a correlative reassessment of previous researched regarding the subject of the paper : 160 studies were collected where the price elasticity for food products were evaluated.
The variables assessed were food product, data characteristics , estimates of price for all foods and estimates of cross-price elasticity for main substitutes and complementary foods. The major estimate in this research was how the change in price for soft drinks can alter their consumption.
Different analytic approaches to modelling food demand were compared. During the analysis , 16 food and beverage categories were used, including ( cereal , beef , dairy products , eggs , food from outside , fruit , juice , soft drinks , sweets and vegetables.
The descriptive statistical analysis of 16 food and beverages groups showed that results are reliable with customary characterizations of the demand response to food prices as inelastic. All mean price elasticity estimates were below 1.0 and vary from 0.27 to 0.81. The relatively less inelastic products were soft drinks ( 0.79) and meats (0.75). Food outside the home was most responsive to price changes ( 0.81).
This data help link the public health and economics communities. Another benefit is that such data will lead to beginning of establishing a vision of where the change in price might have a supreme impact on customer food choices and physical condition. However despite having enough published articles there are still gaps in research base. These gaps must be filled , in order to achieve a complete understanding of political influence on a public health . According to the study there is evidence which propose that low-income populations are more sensitive to price changes than the largely population.
The main factors affecting individual dietary choices are taste , cost and nutritional value of products. The problem of obesity is connected to extreme consumption of added sugar and fat. Because of the low cost those products are more popular. Therefore the price of food and marketing practices are an important component of the eating environment. The strategies of price reduction encourage the alternative of targeted foods by declining their price relative to alternative foodstuff choices.
Healthy lifestyle nowadays in demand all over the world: the amount of people who care for their own body rapidly increase. Healthy products are more expensive than conventional packaged one , because of increased demand and more complex technological process of production are, but this doesn’t stand on the way of their sales. In 2017, sales reached an impressive $ 749 billion, representing 34% of the total sales of packaged food products around the world.
Economic problems , such as diminishing of income or dramatic increases in food prices might lead to changes in consumer behaviour. It is significant to understand such effect of economic conditions on diet quality , especially in low-income groups. The main dilemma is that the factors like increasing food prices and reduction in income create pressure to consume the foods lowest in cost , which is also lowest in quality, therefore lowest price makes calorie-dense foods more attractive.
It is important to mention that future research in this field should focus on predicting the impact of specific public health policies aimed at improving diets and reducing the burden of chronic disease.
The results obtained in this study can also be useful for specialists studying issues related to trade (import), customs, health, subsidies and social security issues. However, in this article, it seemed impossible to consider income elasticity and demand elasticity based on cross prices, which is also crucial for any analysis of food consumption, and therefore further research in this way can provide useful and important information.