Biotechnology

Bio Economy

The bio economy refers to the property production and conversion of biomass for a spread of food, health, fiber, and alternative industrial product yet as energy. The bio economy encompasses all industries and sectors manufacturing, managing or otherwise creating use of biological resources (including organic waste), like agriculture, forestry, and fisheries. The fashionable bio economy is based on data and innovation in biosciences, at the side of other technologies like engineering, chemistry, computing and nanotechnologies. The bio economy as a crucial component of the Strategy’s three main priorities of:

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  Smart growth: developing an information and innovation based economy,


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  Sustainable growth: promoting tons of resource economical, greener and tons of competitive economy;


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  Inclusive growth: fostering a high employment economy delivering social and territorial cohesion.

The global bio economy will grow from nearly 108.0 million tons in 2015 to 121.6 million tons by 2020 with a compound annual rate of growth (CAGR) of two .4% for the amount of 2015-2020.