Is a Bioeconomy Still a Viable Strategy?

Is a Bioeconomy Still a Viable Strategy?
Commentary by Kathryn Fernholz, President/CEO, Dovetail Partners

The United States leads the world in the bioeconomy. Valued at nearly $1 trillion, it rivals the information sector and exceeds the size of the construction industry. With its scientific capacity, natural resources, and manufacturing base, the U.S. is also positioned to capture a significant share of the $4 trillion in annual global economic activity expected from bio‑based products, services, and processes over the next decade. Realizing that potential requires a robust policy framework and a broader, more integrated vision of what the bioeconomy can be.

In February, more than 460 experts from over 60 countries gathered in Vienna, Austria, for the Global Summit on Advancing Sustainable Forest‑based Bioeconomy Approaches. Hosted by Austria and co‑convened with Australia, Finland, Japan, Türkiye, FAO, IUFRO, and the UN Forum on Forests Secretariat, the Summit focused on the future of forest‑based innovation. The discussions culminated in the Vienna Call for Action, a global framework for accelerating sustainable forest‑based bioeconomy strategies.