Bioeconomy

Biobased economy, bioeconomy or biotechonomy is an economic activity involving the use of biotechnology and biomass in the production of goods, services, or energy. The terms are widely used by regional development agencies, national and international organizations, and biotechnology companies. They are closely linked to the evolution of the biotechnology industry and the capacity to study, understand, and manipulate genetic material that has been possible due to scientific research and technological development. This includes the application of scientific and technological developments to agriculture, health, chemical, and energy industries.

The terms bioeconomy (BE) and bio-based economy (BBE) are sometimes used interchangeably. However, it is worth to distinguish them: the biobased economy takes into consideration the production of non-food goods, whilst bioeconomy covers both bio-based economy and the production and use of food and feed. More than 60 countries and regions have bioeconomy or bioscience-related strategies, of which 20 have published dedicated bioeconomy strategies in Africa, Asia, Europe, Oceania, and the Americas.

The bioeconomy is emerging as a transformative force for sustainable development by integrating advances in biotechnology, digital technologies, and circular economy principles. It leverages renewable biological resources such as crops, forests, fish, animals, and microorganisms to produce food, materials, and energy while addressing global challenges such as climate change, resource depletion, and food security. Technological advancements—such as gene editing, bioprocessing, and bioprinting—are driving innovation, enabling the creation of sustainable solutions across sectors. These include bioplastics, biofuels, and bio-based materials that reduce reliance on fossil fuels and minimize environmental impact.

Additionally, initiatives like the European Union’s Bioeconomy Strategy illustrate the global commitment to fostering bioeconomy development. The strategy focuses on regional innovation, circular systems, and reducing carbon emissions. Notable examples include Brazil’s sugarcane ethanol production, Finland’s wood-fiber packaging innovations, and the Netherlands’ algae-based bioplastics industry. These efforts highlight how bioeconomy practices can generate economic value while protecting ecosystems and promoting sustainability.

By aligning economic growth with environmental stewardship, the bioeconomy offers a path toward a sustainable, low-carbon future. This transformative approach emphasizes the interconnectedness of economic, environmental, and social systems, fostering long-term resilience and well-being.