This 7th report in the series demonstrates the macroeconomic effects generated by the bioeconomy, e.g. turnover and employment since 2014. 

The report shows the turnover of the entire bioeconomy  including food and beverages and the primary sectors of agriculture and forestry was 2.35 trillion euros in 2021. This is a decrease from the 2019 figure of just over 2.4 trillion euros. 

More than 16 million people were employed in Europe’s bioeconomy in 2021, down from over 17 million in 2019. Europe’s bio-based industries accounted for 725 billion euros of the 2.35 trillion euros bioeconomy turnover in 2021 – a share of more than 31%. However, this too is down from 814 billion euros in 2019.

The report reveals possible effects of the COVID-19 pandemic that, while not necessarily immediately visible, can be attributed to certain trends in the newest data.

One example can be seen in the bio-based pharmaceuticals industry, which saw a growth of more than 45 billion euros to 158 billion euros turnover overall in 2020. This is up from 110 billion euros in 2019, but the figure falls to 134 billion euros in 2021. The drastic increases in 2020 and 2021 could be linked to the development and production of vaccines for COVID-19.

The bioeconomy has been identified by the European Commission as a key sector to achieve the EU’s sustainability and climate targets. The bioeconomy is integral to the EU Green Deal. Furthermore, the EU’s dedicated Bioeconomy Strategy focuses on developing a sustainable and circular bioeconomy to address societal challenges and enhance the competitiveness of bio-based industries. 
 

Read the full report here.