Bioeconomy and the Modern Challenge of Sustainable Production and Consumption of Biomass and Biofuels

The bioeconomy encompasses the whole economy’s reliance on biological and renewable resources, appears as a response to the global challenges confronting the present civilization. This paper explains the genesis of this concept, focusing particularly on its fundamental components, i.e. the sustainable utilization of biomass and the production of biofuels. It offers an overview of global policies and strategies in this domain, alongside the potential applications of biomass. A large number of studies highlight the great potential of biomass, surpassing the current human needs. However, its application has to be examined through three aspects: supply, demand and sustainability. The increase in biofuel production also imposes challenges such as the competitive use of land for biomass and food production, which is a particular problem, and in this regard, various technologies have been developed that use inedible biomass in the production of biofuels and valuable chemicals. Recognizing the importance of the bioeconomy, as an inevitable element in achieving sustainable development, the European Union adopted a strategy and action plan for the bioeconomy in 2012. Also, many countries that are important players in the global economy, such as the United States, Germany, Canada, Japan, etc. have adopted their national strategies that promote the bioeconomy. It is clear that there is a global interest in research and investment in supply chains for biomass and biofuels, which gives an optimistic picture of the future use of biomass as the basis of a future global bioeconomy.