The bioeconomy includes the sectors that use renewable biological resources to produce value added products, such as food, feed, energy, and bio-based products. Its importance has been demonstrated by its inclusion as a priority in specific and related policies such as the bioeconomy strategy, the Sustainable Development Goals, the European Green Deal, and the Next Generation recovery plan. Spain has not lagged behind and considers the bioeconomy as a priority in its policy strategies to achieve a more sustainable economy. Despite its importance, the analysis of the potential of the bioeconomy sectors in Spain is limited. To carry out policy-relevant impact assessment in support of bioeconomy development, specific databases describing bio-based products are required. Hence, this work based on the Bio Social Accounting Matrix (BioSAM) for Spain for the year 2010 with a high disaggregation of bio products to perform a structural analysis based on two different and complementary methods: the traditional and the Hypothetical Extraction approach. The structural analysis results reveal promising products as key wealth generators and growth promoters and allow to identify the most suitable to be stimulated with policies to promote the development of the Spanish bioeconomy. Therefore, this paper provides some proposed avenues that should be considered by policymakers.
Keywords: Bioeconomy; Hypothetical extraction method; Implications; Policy; Rasmussen; Spain; Structural analysis.
© The Author(s) 2023.