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The European bio-based economy continues its ascent with a 7% turnover increase in 2017 compared to 2016

21 October 2020

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The nova-institute report commissioned by BIC presents the macroeconomic effects generated by the European bioeconomy. The bioeconomy includes the primary sector (agriculture, forestry and fishery), the food and beverage sector and the bio-based industry such as chemicals and plastics, pharmaceuticals, paper and paper products, forest-based industries, textiles, biofuels and bioenergy.. In 2017, the European bioeconomy employed 18.5 million people and its turnover was just over 2.4 trillion EUR (+25% since 2008). The bio-based industries employing 3.6 million people contributed up to 750 billion EUR to the European economy (+23% since 2008). In 2017, the bioplastics sector alone employed 100 000 persons and generated a 19 billion EUR turnover.

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