A global platform for the Circular Bioeconomy
No Result
View All Result
Monday, December 4, 2023
World Bio Market Insights
  • Home
  • Insights
  • News
    • Technology
    • Business
    • Investment
    • Regulation
  • WBMI TV
  • Newsletter
    • Subscribe and Past Issues
    • Sponsorship Opportunities
  • Community Partners
  • WBM 2024
World Bio Market Insights
  • Home
  • Insights
  • News
    • Technology
    • Business
    • Investment
    • Regulation
  • WBMI TV
  • Newsletter
    • Subscribe and Past Issues
    • Sponsorship Opportunities
  • Community Partners
  • WBM 2024
No Result
View All Result
World Bio Market Insights
No Result
View All Result

European Bioeconomy Report shows turnover of 814 billion EUR despite BREXIT

by Daniela Castim
1 year ago
in Regulation
Reading Time: 2 mins read

Earlier in October, the “European Bioeconomy in Figures 2008 – 2019” report was published on the BIC website. Conducted by nova-Institute and commissioned by BIC, this yearly update report dives into Europe’s bio-based industries to reveal that the bio-based industries continue to grow despite significant changes due to Brexit. 

According to the latest available data in Eurostat, the bio-based industries’ total contribution  to the EU’s bioeconomy in 2019 was above 814 billion EUR.  This represented an increase of over 4%- or 34 billion EUR – compared to 2018, despite removing the UK from the scope. Analysis of the 2019 Eurostat data shows that the turnover of the entire bioeconomy (including food and beverages and the primary sectors of agriculture and forestry) amounts to just over 2.4 trillion EUR in the EU-27.

Although the UK data is no longer included, the latest numbers show that the EU’s bioeconomy turnover remained stable. This has resulted in an increase of around 25% since 2008 (the earliest data point taken into account in this yearly-updated series of nova-Institute reports).

“The 2019 figures for the bio-based chemical industry (including plastics) alone, reveal a turnover of around 48 billion EUR (excluding UK) which depicts a decrease from 2018’s 54 billion EUR (including UK). The respective bio-based share has also been adjusted, resulting in a higher share, from 13.4% in 2018 to around 13.8% in 2019”.

In addition to the bio-based share for production value in the chemical sector, this year’s report includes for the very first time the chemical sector’s bio-based share for production volume. According to analysis, the bio-based share of the production volume of the organic part of the chemical sector amounts to 9% in 2019, increasing from 6.8% in 2008. This data demonstrates  that the often communicated 10% share of organic carbon in the chemical sector is a reasonable estimation. 

The report also states that the bio-based carbon share in the chemical sector is higher than usually reported by the petrochemical industry.  The first report in this series was first published in 2016, demonstrating for the first time the macroeconomic effects generated by the bioeconomy, in terms of turnover and employment. 

Tags: News
Previous Post

China to continue green transition toward carbon peak and neutrality

Next Post

Waste to energy industry barometer shows downward trend

Related Posts

DuPont achieves ISCC PLUS Certification
Regulation

DuPont achieves ISCC PLUS Certification

November 14, 2023
Yagi launches Cotton iD, a system for tracing organic cotton
Regulation

Yagi launches Cotton iD, a system for tracing organic cotton

October 31, 2023
ARKEMA makes its bio-based polyamide 11 production greener
Regulation

ARKEMA makes its bio-based polyamide 11 production greener

October 11, 2023
European Biogas Association to work with global GHG Protocol to create rules for reporting biomethane purchases
Regulation

European Biogas Association to work with global GHG Protocol to create rules for reporting biomethane purchases

October 3, 2023
Brazil’s Amazonian bioeconomy offers hope for stemming deforestation
Feature

Brazil’s Amazonian bioeconomy offers hope for stemming deforestation

September 20, 2023
New law on sustainable, circular and safe batteries enters into force in the EU
Regulation

New law on sustainable, circular and safe batteries enters into force in the EU

August 28, 2023

Our Events

Bio Innovations Midwest – 24-25 September 2024
Events

Bio Innovations Midwest – 24-25 September 2024

December 1, 2023
World Bio Markets – 26-27 June 2024
Events

World Bio Markets – 26-27 June 2024

December 1, 2023

Latest News

Windfall Bio's methane solution earns Fast Company recognition

Windfall Bio’s methane solution earns Fast Company recognition

December 1, 2023
Lavie Bio expands bio-inoculant product to durum and barley

Lavie Bio expands bio-inoculant product to durum and barley

December 1, 2023
PUMA turns sneakers into compost

PUMA turns sneakers into compost

November 30, 2023
Bio-based packaging from beer waste: BioSupPack project makes strides

Bio-based packaging from beer waste: BioSupPack project makes strides

November 30, 2023
  • Home
  • Insights
  • News
  • WBMI TV
  • Newsletter
  • Community Partners
  • WBM 2024

Please note: Bio Market Insights is owned and operated by TNP Media Ltd, after being acquired from Quantuma in April 2021.

Follow us

© Bio Market Insights

No Result
View All Result
  • Home
  • Insights
  • News
    • Technology
    • Business
    • Investment
    • Regulation
  • WBMI TV
  • Newsletter
    • Subscribe and Past Issues
    • Sponsorship Opportunities
  • Community Partners
  • WBM 2024

© 2023 World Bio Market Insights