Traditional bioeconomy versus modern technology-based bioeconomy

Biorefinery occupies a major domain in modern bioeconomy. It offers several promising opportunities to replace fossil resources-based products and fuels in a sustainable manner paving the way to establish a carbon-neutral economy. Currently, biobased chemicals and polymers production is approximately 50 million tones. One of the major bottlenecks in biorefinery-based operation is the economical production of second-generation (2G) sugars, which serves as a building block in a renewable economy. Besides 2G ethanol and other bioenergy products, high commercial value-based chemicals, such as organic acids, polymers, sugar alcohols, amino acids, enzymes, antibiotics, among others, can be produced from 2G sugars via fermentation or chemical methods. In the long haul, economic competitiveness and sustainability of biorefineries depend on the processes integration and intensification, market flexibility, and continuous innovation for the development of new products. Furthermore, a reliable supply chain for regular and sufficient feedstock at stable price and partnerships in each step with external players are necessary. This chapter discusses the basic principles and key aspects of modern bioeconomy. Special attention is given to the role of biorefinery in bioeconomy and the current technological status of some important biochemicals.