The bioeconomy or bio-based economy is a new model for industry and economy that is seen as a chance to switch from an economy based on the use of fossil raw materials to a new, innovative and sustainable economy based on biogenic resources.
A bio-based economy will reduce our dependency on fossil fuels and help us to meet some of the major challenges that humankind is facing in the beginning of this century: Securing global nutrition, developing bio-based energy carriers, protecting the climate and the environment and conserving biological diversity.
Bioeconomy includes all economic sectors which use biological resources such as plants, animals, and micro-organisms. Agriculture, forestry, the food industry, but also parts of the chemical, energy, pharmaceutical, cosmetic, and textile industries are part of bioeconomy. The term “bioeconomics” designates a type of economics that is knowledge-based, innovative, and sustainable. The topics of adequate food supply and a balanced diet are part of bioeconomy.
Bioeconomy is a broad field and requires interdisciplinary expertise in addition to the disciplinary approach. Agricultural, natural, business, economic, and social sciences work on all facets of Bioeconomy. In this way, a holistic approach is created that includes the entire value chain.