The bioeconomy covers all sectors and systems that rely on biological resources (animals, plants, micro-organisms and derived biomass, including organic waste). It links primary production undertaken in agriculture, forestry, fisheries and aquaculture with a range of economic and industrial sectors to produce food, feed, bio-based products, energy and services. It, therefore, provides an unique opportunity to secure increased value from production and processing, especially through utilisation of by-products and waste streams, so as to optimise the return to all actors along the value chain. It also provides important opportunities for replacing fossil fuel based products with products generated from the natural environment such as food, feed, biobased plastics, natural chemicals and materials. To be successful, the bioeconomy needs to have sustainability and circularity at its heart.