Bioeconomy including plastics and paper worth €2.1 trillion to European economy

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The first macro-economic study on the European bioeconomy by the Bio-based Industries Consortium (BIC) has found that it is worth €2.1 trillion in Europe.

It also provides work to 18.3 million employees.

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The bioeconomy includes the food, feed and beverage sectors, but also the bio-based industries such as chemicals and plastics, pharmaceuticals, paper and paper products, forest-based industries, textile sector, biofuels and bioenergy.

These bio-based sectors along contribute €600 billion as a whole.

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BIC chair Marcel Wubbolts said: “Bio-based industries show €600 billion turnover and 3.2 million employees. The bio-based industry is already an important part of the European economy and a pivotal element in the transition to a sustainable, circular economy in Europe with renewable raw materials as key enablers.

“Europe should continue on this path and create stable policies to further accelerate the European bioeconomy.”