Description
The bio-based industry sector is a vital part of the bioeconomy. It can deliver sustainable alternatives to fossil-based products, fostering industrial competitiveness and sustainable economic growth for the EU. The EU's bio-based industry has strong fundamentals but faces challenges when it comes to scaling up innovative technologies and products. In fact, the sector is confronted with regulatory fragmentation and burdensome bureaucracy, limiting appetite among investors and resulting in insufficient scale-up funding. Systemic change and harmonised regulation, coupled with effective financial support instruments, are essential factors to unlock the sector’s innovation potential, boosting the EU's global leadership in low-carbon technologies. This study analyses the sector to identify barriers to scaling innovative bio-based technologies and offers specific recommendations to address investment bottlenecks and bring sustainable innovation to the market.
