The bioeconomy made up 5% of the European Union’s GDP in 2021. It was worth 2.3 trillion euros, with the bio-based industries contributing 720 billion euros.

BIC is a partner in expanding industrial bio-based activities across Europe. Our new Country Report on Hungary maps out the potential for bio-based growth in the country, highlighting untapped and under-exploited bio-based resources. For example, the utilised agricultural area makes up 55% of the area of Hungary, a proportion notable among EU Member States.

This report helps to identify new opportunities for the primary sectors, the food and beverage sector, the blue bioeconomy, bio-based chemicals, and pharmaceutical to valorise local feedstock including side streams and waste that today have low or no value.

Further developing Europe’s bio-based industries in Hungary presents opportunities for domestic and foreign investment at a time when green growth is high on the EU agenda. In addition, the EU continues efforts to increase the participation in innovation and research of the BIOEAST Countries, which includes Hungary.

“With such large farming and forestry land in Hungary, comes the potential to valorise sustainably sourced biomass for the bio-based industries. Hungary also has a growing biotech sector, supported by a strong tradition in manufacturing. We hope that as this report is disseminated, it will promote the bioeconomy and the promise it shows for Hungary; we encourage all stakeholders – industry, policymakers and academia – to exploit the opportunities for investment and greening the economy,” said BIC Executive Director Dirk Carrez.

“Investment in opportunities to add value to the biomass produced in Hungary, and to transform waste streams into new value-added products, is a major priority for Hungary and the Ministry of Agriculture. The bioeconomy offers this opportunity, and with this report, we aim to support the orientation of investments, enhance stakeholder engagement, and open new pathways for Hungarian agriculture, forestry, aquaculture and the food industry towards biomanufacturing,” said Anikó Juhász, deputy state secretary at the Hungarian Ministry of Agriculture.