|3 March 2016|

Brussels

The European bioeconomy is generating a €2.1 trillion turnover, according to a new report.

The Bio-based Industries Consortium (BIC) in Brussels has  released its annual report which shows that the food, feed and beverages sectors are responsible for around a half of that figure while bio-based industries – chemicals and plastics, pharmaceuticals, paper and paper products, forest-based industries, textile sector, biofuels and bioenergy – are contributing with €600 billion.

“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 towards 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,” says Marcel Wubbolts, Chair of the Bio-based Industries Consortium (BIC).

Read the full report here.