Key aspects for designing business models for a circular bioeconomy

Abstract

The circular bioeconomy represents an opportunity of nearly USD $8 trillion until 2030. However, innovative business models are needed for a circular bioeconomy to succeed. What mostly lacks in the body of research on business models for the circular bioeconomy, and what marks the originality of the present article, is summarizing the key aspects that need to be considered when designing, implementing and managing businesses in a circular bioeconomy. Therefore, this study's aim is twofold (i) to reveal key aspects for implementing and managing business models for a circular bioeconomy; and (ii) to point out the issues that lack further research on the theme, based on the existing literature. A systematic literature review was conducted on the Science Direct, Scopus and Web of Science databases. Key aspects for implementing and managing business models were identified according to the business model Canvas framework. Key aspects are related to the role of innovation and new markets, taking the customer perspective into account in the value creation process and being close to customers, adequate management of logistics and feedstock collection systems, being aware of different routes for valuing biomass, seeking technological development, building resilient value chains, and focusing on value creation to cover costs. Issues that need addressing in the existing literature include product-service-systems, take back-systems, seasonal availability of resources, social impacts, rebound effects, and aquatic activities.