Bioeconomy may be defined as a new field of science, as it handles with exploitation and mutual influence of several dynamic systems: plants’ dynamics, animals’ dynamics, human dynamics and dynamics of the economic systems. Therefore, many theories are about to intermingle simultaneously in this new complex field of science.
Bioeconomy is also recognized as “Circle Economy” or “Regenerative Economy”, or even sometimes it is called “Blue Economy”, as it employs the concept of full use and utilization of all elements and materials in a constant circle without any salvage components and salvage values.
To illustrate simply the idea of the Bioeconomy, it has to be clearly understood that in the Nature there is no such phenomenon as “Unemployment” – everything is employed again and again. And therefore, the Bioeconomy has its applications in the real economy and businesses.
Thinking of Bioeconomy one has to think of employment of specific high-class biotechnologies in labs, semi-lab conditions, and in full industrial scale. It has been proven that for at least a decade that biotechnologies foster different industries to grow faster and bring greater monetary values to stakeholders, and investors.
Introduction of the new generation of biotechnologies may bring not only monetary values, but also great benefits, such as health benefits and higher standards of quality of life of people.
Bioeconomy and Biotechnologies provide real solutions and applications in numerous industries, to name a few: Cosmetics, Perfumery, Essential Oils, Food, Medicine, Agriculture, Farming, Fishing, Forestry, Furniture, Waters, Fuels, Cleaning Materials, Textiles, and many other industries to produce a new generation of biomaterials, biopolymers and bio-products, in general.
There are some figures, which illustrate that the global market of bioproducts was valued at approximately $ 70 billion in 2003. However, some recent estimates demonstrate that potential market varieties of the applications of Bioeconomy/Biotechnologies may reach $ 500 billion in 2020.
Taking into consideration the “big picture” and the big “crunchy-bunchy” numbers, it won’t be overstated to say that Biotechnologies shall turn into one of the main components of the new economic revolution in this quickly globalizing world.