The bioeconomy encompasses all sectors and systems based on biological resources – plants, animals, microorganisms, and biomass, including organic waste. The goal of the bioeconomy is to manage natural resources sustainably, reduce dependence on fossil fuels, and promote innovation and job creation. In 2018, the European Commission updated its bioeconomy strategy, which includes five main objectives: ensuring food security, sustainable management of natural resources, reducing dependence on non-renewable resources, mitigating and adapting to climate change, and strengthening European competitiveness.

A value chain represents the entire set of activities that a company performs to create a final product or service from the design stage to delivery to the consumer-customer. The concept was first introduced by Michael E. Porter in his book “Competitive Advantage: Creating and Sustaining Superior Performance” (1985). The value chain includes all steps from raw material procurement, production, marketing, sales, to after-sales services. The goal is to create the maximum possible value for the customer at the lowest possible cost, thereby giving the company a competitive advantage.