A Review of Research on Progress in the Theory and Practice of Eco-Product Value Realization

Abstract

The value realization of ecological products is currently a rapidly evolving research topic; however, the definition of its concept, type, and operation mechanism remains relatively ambiguous. Operating in accordance with the PRISMA guidelines, this review employs keyword retrieval and screening, utilizing VOSviewer and word cloud mapping for analysis, in order to reveal three primary research domains related to ecological product value realization. Based on thorough screening and the analysis of high-quality literature, this study comprehensively accomplished the following objectives: (1) clarifying the fundamental concepts of ecosystem services and ecological products, their interrelationships, and the scope of research on ecological products; (2) clarifying the basic connotation of realizing the value of ecological products; (3) demonstrating government-led approaches, market-driven approaches and collaborative pathways for realizing the value of ecological products; (4) reviewing international cases related to realizing the value of public ecological products, quasi-public ecological products, and operational ecological products. The academic contributions of this study are (1) expanding the theoretical framework for realizing the value of ecological products; (2) providing a Chinese perspective on global research on pathways to realize value from ecological products; and (3) offering a novel approach to revitalizing regional economies and improving local ecological environments. Based on this research, several shortcomings and future directions in this field are identified: (1) insufficient clarity, standardization, and uniformity in evaluation and measurement methods; (2) the absence of comparison between ecological products and urban economic products; (3) inadequate exploration of multi-stakeholder allocation and coordination mechanisms; (4) limited research on the role of capital markets in allocating ecological product resources.