The nova-Institute analysed the 2018 Eurostat data and found that the turnover of the total bioeconomy in the EU-27 and the UK, including food and beverages and the primary sectors of agriculture and forestry, is just over €2.4 trillion, an increase of around 25%.
The food and drink sector accounts for around half of the turnover, while bio-based industries such as chemicals and plastics, pharmaceuticals, paper and paper products, wood, textiles, biofuels and bioenergy account for around 30%. Biobased chemistry (including plastics) achieved sales of around €54 billion in 2018 alone. Relative to total chemistry, the biobased share remained relatively stable at around 15%. Compared to ten years ago, however, this is a doubling.
Almost 20% of the turnover is generated by the primary sectors of agriculture and forestry, while these sectors are responsible for the majority of employment in the bio-economy (54%). They are particularly strongly represented in Central and Eastern Europe. The Western and Northern European countries generate a higher turnover to employment ratio, indicating a higher share of refining and value-added industries. The countries with the highest turnover-to-employment ratios are Finland, Belgium and Sweden.
The full report is available for free download on the nova Institute website.