WASHINGTON — The U.S. Department of Agriculture’s BioPreferred^® Program commissioned a report on the impact of bio-based products in the United States, titled An Economic Impact Analysis of the U.S. Biobased Products Industry: 2018 Update. The report demonstrates the many ways that BioPreferred partners and others are contributing to job gains and economic growth nationwide.

Topline findings include that bio-based products contributed $459 billion to the U.S. economy in 2016, a 17% increase from 2014. The study also found that the bio-based products sector impacts every state in the nation and is not just confined to states where agriculture is the main industry. The study reports that strong bio-products sector growth led to a total of 4.65 million jobs in 2016, an increase of more than 10% in two years. This includes the 1.68 million people directly employed within the industry plus 2.98 million employed in jobs supported by the industry. According to the report, the growing bio-economy also leads to environmental benefits, which include reducing the use of fossil fuels and associated greenhouse gas (GHG) emissions. The report shows potential reductions of GHG emissions of 60%, with analyses indicating that up to 12 million metric tons of CO₂ equivalents may have been reduced in 2016.

Through case studies, the report also illustrates key trends, such as the following.

Trash-to-Treasure: Previously unused raw materials, once considered trash, are finding new life in a wide range of products.

Partnerships: Companies like Ford, BASF and Carolina Nonwovens are strengthening their value chain with like-minded partnerships.

Win-Win Innovation: Goodyear Tires and others support win-win innovation and product ideas that are good for the planet, good for consumers and good for companies.

Consumer Demands Are Key: Companies are finding ways to meet rising consumer demand for planet-friendly products. Among the seven bio-based product sectors, bio-based plastics is one where new technologies and changes will be most recognizable by consumers.

To download a full copy of the report, go to the USDA BioPreferred Program website at https://www.biopreferred.gov/.