CONCEPTS AND KEY SECTORS OF THE BIOECONOMY

Abstract

Although the bioeconomy as a concept emerged in the late 20th century, it has generated a significant interest among researchers, policy makers and businesses in the last decade. The interdisciplinary character of the bioeconomy gives an opportunity to address major global challenges, both economic and environmental. The aim of the article is to outline different definitions, concepts, as well as to highlight the key bioeconomy sectors. The paper focuses on the links between the bioeconomy and circular economy, sustainable development, implementation of innovation, value chain formation as well as regional specialization. The survey applies historical, comparative, monographic methods of analysis. The theoretical roots and evolution of the concept are observed. The study analyses different pproaches and perspectives regarding the bioeconomy sectors. The results indicate that there is no clear consensus on the definitions and key sectors of the bioeconomy in the global context. Despite the worldwide interest in bioeconomy, there are various challenges associated with the design and implementation of individual national, regional bioeconomy strategies, which could ensure the development of smart specialisation and green growth.