The bioeconomy offers Europe a chance to strengthen its resilience, replace fossil-based materials and products, create jobs and lead the global shift to clean industries. With this new Strategy, the EU will support activities that provide sustainable practical solutions using our biological resources in sectors such as agriculture, forestry, fisheries, aquaculture, biomass processing, biomanufacturing and biotechnologies. It will harness the vast potential of these resources, scientific excellence and industrial base, and encourages innovations that benefit the climate, nature and society.
With a value of up to €2.7 trillion in 2023 and employing 17.1 million people (around 8% of EU jobs), the EU bioeconomy already contributes significantly to job creation and economic growth in Europe. Every job in the bioeconomy creates three indirect jobs in the EU. Examples of products are bio-based chemicals made from algae that are used to produce pharmaceuticals, personal care products and industrial applications. Bio-based plastics are increasingly used in packaging and automotive parts. Also bio-based construction productions, textile fibres and fertilisers are increasingly in demand. However, it still has a huge untapped potential.
The EU Bioeconomy Strategy aims to unlock this potential by scaling up innovation and investments, developing lead markets for bio-based materials and technologies, ensuring a sustainable supply of biomass, and harnessing global opportunities.
Source: European Commission
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