Bioeconomy Development in the European Union: Social and Economic Influencing Factors

Introduction:The bioeconomy is a cross-sectoral domain set out in the dedicated European Commission Strategy 2018, which includes those sectors and systems that are based on biological resources. Purpose:An understanding of the bioeconomy’s significance within the EU and the variations in its performance across Member States (MS), thereby informing policymakers and supporting strategic planning efforts to foster sustainable economic growth and resource utilisation within the bioeconomy. Methodology:Quantitative analysis: the value added at factor cost (VAFC), turnover (TRN), and the number of employed persons (NEP). The research used the database of the Joint Research Centre of the European Commission (JRC). The period evaluated was 2008–2021 for the 27 EU MS. Findings:The bioeconomy contributes to the generation of community GDP by approximately 5%, and the sectoral analysis shows that agriculture, hunting, and related services and the food industry are the most relevant from an economic and social point of view. Of the EU MS, those in the Western part of the continent have the most significant contribution to the Community bioeconomy for the bioeconomy component sectors that are focused on value creation, efficient use of resources, and environmentally friendly activities. Limitation:The EU’s lack of harmonised statistical data causes difficulties making detailed comparisons between the countries with developed bioeconomies. Further Research:Advanced research could help strengthen the scientific basis for creating national bioeconomy strategies. Other indicators, such as indicators related to agricultural practices in an ecological system, could bring new and valuable insights.