Bio-based products are beneficial for the economy, society and environment. Promoting these products contributes to increasing circularity and driving innovation that aims to solve the most important sustainability challenges that the world faces nowadays. According to the European Commission, bio-based products “enhance the EU’s open strategic oil, natural gas, and coal) and other raw materials that are imported to the EU”.
Bio-based products are completely or partly derived from materials of biological origin such as plants, animals, and microorganisms, among other. As they are derived from renewable raw materials, bio-based products can help reduce CO2 and offer other advantages such as lower toxicity or novel product characteristics, such as biodegradable plastic materials, for instance. In this sense, bio-based products are revolutionizing industries and paving the way for a more sustainable economy.
The European Union has been funding different initiative related to these developments in bio-based products, more specifically in applications of biotechnology and bio-manufacturing that range from replacing fossil fuels, to the discovery and development of new drugs for rare diseases, and bio-based alternatives to plastic and other materials. However, as regulatory complexity is one of key obstacles for competitiveness in this area, Europe is developing a new policy frame that will help propel the bio-based product market and research.
The development of a regulatory frame is very important because just a couple of years ago, there was no policy strategy or legislation specifically dedicated to the bio-based chemicals and materials sectors, but the regulations have been catching up with the trends and a new plan has been drafted with the objective of addressing and financing, the initiatives in this area that want to move from research to the market. In this regard, the European Commission is promising to review its Bio-economy Strategy by the end of 2025, which could include a stronger industrial dimension.
Finally, as it is becoming increasingly evident that bio-based products are the future of the industry, a practical and beneficial regulation is becoming necessary. This is the north star that researchers and industrial actors need to follow while encouraging policymakers for more action on their front. If better regulations are achieved, then European bio-based economy will be more competitive and will foster an economic boom that will impact the quality of life of its citizens but also the sustainability goals that are set for this generation.
