The European Commission defines the bioeconomy as “The production of renewable biological resources and the conversion of these resources and waste streams into value-added products, such as food, feed, bio-based products and bioenergy. To be successful, the European bioeconomy needs to have sustainability and circularity at its heart. This will drive the renewal of industries, the modernisation of primary production systems, the protection of the environment and enhance biodiversity” (Source: European Bioeconomy Strategy).
There are therefore 3 important areas of the bioeconomy:
- agriculture, forestry, fishing and aquaculture;
- food, beverages and tobacco;
- other industries that use and/or transform biological resources (such as the paper, wood, cosmetics, pharmaceutical, chemicals, biotech, energy, textile and apparel industries).
The objective of the bioeconomy is to create a prosperous economy that respects the environment through the use of biological resources and renewable energy sources, with an ever-decreasing reliance on fossil fuels.
Opportunities in the sector:
- Development of Agriculture 4.0
- Smart territorial specialisation;
- Alternative energy sources;
- Growing bio-pharma demand;
- European Circular Bioeconomy Fund;
- Rising foreign demand.
- In 2018, total national turnover from the bioeconomy reached €344.8 billion, up 2.2% on the previous year, which in turn recorded a 4.4% increase in 2016.
Foreign direct investment (FDI) in the agriculture, forestry and fishing segment came to €1.525 billion in 2018.
In February 2020, there were 941 start-ups and SME, of which 238 in Lombardy, 101 in Veneto and 87 in Campani
- Italy ranks 3rd in Europe in terms of turnover, behind only Germany and France.