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Yorkshire bioeconomy market aims to grow to £12 million by 2025

Yorkshire industry figures joined forces with scientific researchers in York to discuss how the region can gain a bigger share of Europe’s rapidly expanding bioeconomy market.

According to BioVale, the bioeconomy is already worth some £8.7 billion to the region and that could rise to £12 billion by 2025.

Industrialists, researchers and public policy makers in the region believe that the recently established BioVale innovation cluster could be the catalyst to growing the bioeconomy in Yorkshire and the Humber.

A range of industries involved in the bioeconomy, from production of renewable biological resources through to manufacture of food, feed, bio-based products and bioenergy, took part in the round table discussion organised by BioVale.

Professor Ian Graham, head of the University of York’s Department of Biology said: “The bioeconomy is worth over two trillion euros in the EU alone. Globally the major superpowers all have ambitious policies for the bio-based economy.

“Yorkshire has a unique combination of knowledge, agriculture and industry to capitalise on that opportunity.”

One of the leading lights in this sector, Christine Parry, co-products development manager for AB Agri, said “We know that there is value to be added to organic by-products from our operations. BioVale will give us streamlined access to a knowledge base that can help us do that.”

“Biovale has an important role to play in developing new products, techniques and markets for firms in our region.

Katy Stewart, head of Economic Development, City of York Council said: “It can help improve sustainability and profitability in the supply chain by showing how one company’s waste can become another one’s feedstock.”

This was posted in Bdaily's Members' News section by Clare Burnett .