Unleashing the Power of Biotech: BIO Report Highlights Massive Bioeconomy Impact

The Biotechnology Innovation Organization (BIO) has just released a compelling report in March 2025, titled "Bioeconomy Impact Modeling Final Report," which underscores the significant and growing economic power of the U.S. bioeconomy. This first-of-its-kind analysis, conducted in partnership with Kearney, a global management consulting firm, focuses on the impact of biotechnology in the context of plant, animal, and biobased products, excluding healthcare. The findings reveal a sector that is not only driving substantial economic growth but also creating hundreds of thousands of jobs.

Key Findings: The Bioeconomy's Impressive Footprint

The report highlights several crucial aspects of the bioeconomy's current and future impact:

• Significant Current Economic Impact: The U.S. bioeconomy currently contributes approximately $210 billion in direct economic impact (excluding healthcare). When considering indirect benefits, this total impact surges to over $830 billion.

  
  

• Job Creation Engine: This thriving sector already supports 430,000 jobs across various industries, demonstrating its vital role in the nation's workforce.

  
  

• Projected Growth in Plant and Animal Biotech: By 2030, innovations in plant and animal biotechnology are projected to contribute a substantial $56 billion to the U.S. economy.

  
  

• The Rise of Biobased Products: The report anticipates that biobased products have the potential to generate up to $291 billion in economic impact by 2030, showcasing the growing demand for sustainable alternatives.

  
  

• Doubling the Impact by 2030: Looking ahead, the report projects that the full economic potential of the bioeconomy could reach an astounding $400 billion by 2030, nearly doubling its current impact within the next five years. This reinforces the bioeconomy's status as a critical economic driver for the nation.

  
  

Unlocking the Full Potential: A Call for Action

The report emphasizes that realizing the full potential of the bioeconomy requires strategic policy decisions and investments. John Crowley, President and CEO of BIO, stressed the need to modernize regulatory frameworks governing the review and approval process of new biotechnologies to ensure the U.S. remains a global leader in agricultural innovation.

Sylvia Wulf, Interim Head of BIO's Agriculture and Environment Center of Excellence, highlighted the comprehensive and data-driven nature of the analysis, stating that it quantifies the immense economic contributions of plant, animal, and biobased product innovations. She emphasized the urgency of public policies and investments to unlock the bioeconomy's full potential.

The Path Forward:

This report serves as a powerful testament to the economic might of the bioeconomy and its potential for future growth. By focusing on renewable biological resources, this sector is not only contributing significantly to the economy but also paving the way for more sustainable practices in food, agriculture, and manufacturing. The findings underscore the importance of continued innovation and a supportive policy environment to fully harness the vast potential of biotechnology for the benefit of the U.S. economy and beyond.

You can find the full report at bio.org/sites/default/files/2025-03/Bioeconomy Impact Modeling Final Report_March 2025_1.pdf.