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Abstract The future bioeconomy is expected to drive the transition toward a more sustainable economy by addressing some of the major global challenges, including securing food security, climate change, environmental degradation and resource scarcity. The globally increasing demand for food, but also materials and renewable energy, necessitates innovative developments in the primary sectors. Innovations will need to generate more resource-use efficient technologies and methods for increasing productivity in agriculture, forestry and aquaculture without jeopardizing the Earth’s carrying capacity and biodiversity. Bioeconomy exploits new resources by building on renewable biomass. Through this, the introduction of innovative and resource-use efficient production technologies and the transition to a sustainable society, it helps to substitute or reduce the use of limited fossil resources, thereby contributing to climate change mitigation.