The bioeconomy and the forestry sector: Changing markets and new opportunities

The bioeconomy is expected to replace the current information economy and will depend heavily on the manufacturing and trade of bioproducts, which are all commodities generated by living organisms through the use of technology and biotechnology, as well as non-timber forest products. In Canada alone, markets for bioproducts are in excess of $100 billion annually. The bioeconomy should impact most of Canada's economic sectors: energy and transportation, food and agro-food, pharmaceuticals, nutraceuticals, forestry, materials and manufacturing, waste management and a large variety of consumer goods. The bioeconomy holds promises to wean the Canadian economy from its dependence on fossil fuels as a primary source of energy as well as platform chemicals in materials and manufacturing, while meeting the Kyoto commitments on greenhouse gas reductions. Finally, the bioeconomy will reduce the environmental impact of economic growth by increasing the use of industrial and urban wastes and developing goods that are biodegradable.