Raw materials from Finnish agricultural and forestry have potential to provide the global bioeconomy product market with products of significantly higher value, superior quality and serving new emerging needs. A joint white paper compiled by VTT and Natural Resources Institute Finland (Luke) describes the kind of bioeconomy products and services that can be produced in Finland for the domestic market and export during the next 15 years. The publication was prepared as a background document for Finland’s bioeconomy strategy, which is currently being updated.
Finland’s bioeconomy strategy, published in 2014, set ambitious targets for increasing economic well-being and the number of jobs. Since then, technological solutions, the operating environment and the world market have developed dramatically. New products, processes and services in the bioeconomy sector are rapidly entering the market to serve changing needs and consumer habits.
Concerns about climate change, biodiversity loss, social aspects and global pandemics require new, more efficient and sustainable action from the bioeconomy sector. Simultaneously, green growth and recovery from the economic shock caused by the COVID-19 pandemic require investment, which at the same time enables the transition to better production and consumption systems. This also means new solutions for the recycling of materials and even energy.
The publication describes various new added-value products relevant to the Finnish bioeconomy cluster and presents trends related to the most important product markets. It provides a snapshot of new, concrete visions based on research and development related to bioeconomy, creating a basis for decision-making that looks to the future. The publication was authored by experts from Luke and VTT and is drawing on their decades of experience and vision in the bioeconomy sector.