Bioeconomy
Bioeconomy is much more than a new concept. It should be seen as a new opportunity, especially for countries whose characteristics favor using biomass. We can describe bioeconomy as a sector of the economy encompassing the sustainable production of renewable resources and their conversion into food, fibers, animal feed, chemicals, materials, and bioenergy through efficient and innovative technologies, thus contributing to society, the economy, and the environment. The circumstances that call for the advancing bioeconomy are the following: climate change, which implies the need for alternative methods for mitigating carbon emissions; opportunities for new businesses and employment and income generation; in addition to the pressing matter of poverty eradication. However, it is worth noting that bioeconomy itself is not the same as sustainability, meaning that we still have to face the challenge of actively meeting sustainability criteria. Environmental concerns mainly involve matters of biodiversity and natural resource usage. However, even with all these precautions, the gains in the biomass value chain are significant. It is estimated that the bioproduct economy generated around 3.2 million jobs and 600 billion euros in 2013 in the European Union. This economy sector does not include, for instance, agriculture, forestry activities, and fishing. We saw a similar result in the United States in the same year, where bioeconomy generated around 4 million jobs and 370 billion dollars. Moreover, these numbers do not include bioenergy, which is a significant sector of their economy. The World Economic Forum estimates that the potential for new businesses and opportunities in the biomass value chain could reach a figure of 295 billion dollars globally in 2020, three times higher than in 2010. Biotechnology alone could add up to 2.7% of the GDP of developed countries.
It is essential that a country innovates when searching for opportunities in the abundant biomass value chain. In order for innovation to breed results, we also need a favorable environment for implementing new solutions.