The bioeconomy encompasses all sectors and systems that rely on biological resources (animals, plants, microorganisms and biomass derived from these sources, including organic waste), their functions and principles.
 
It encompasses and interconnects terrestrial and marine ecosystems and their services, all primary production sectors that use and produce biological resources (agriculture, forestry, fisheries and aquaculture), and all economic and industrial sectors where biological resources and processes are used to produce food, feed, products derived from biological raw materials, energy and services.
 
In a narrow sense, the bioeconomy is defined as an innovative, low-carbon economy, whose goal is to ensure the sustainability of agriculture, fisheries and aquaculture, food security, and the sustainable use of renewable biological resources (biomass) in industry while simultaneously protecting biodiversity and the environment.