In partnership with Kearney, a global management consultancy, the Biotechnology Innovation Organization (BIO) today unveiled groundbreaking findings in a report titled “Projected Impact and Growth of a Fully Unleashed Bioeconomy: The Value of Food, Agriculture, and Manufacturing Biotechnology.” This report, the first comprehensive economic assessment of its kind, measures how plant, animal, and biobased innovations contribute significantly to the American economy—far beyond traditional healthcare contexts.

Download the full report here.

“The power of biotechnology in food, agriculture, and manufacturing plays a pivotal role in fostering long-term economic growth and enhancing our national security,” said John Crowley, President and CEO of BIO. “The U.S. must now take a series of bold measures to modernize the regulatory frameworks that govern the review and approval process of new biotechnologies to ensure that our nation continues to lead the world in agricultural innovation.”

A Multi-Billion Dollar Engine

Currently, the U.S. bioeconomy delivers a direct economic contribution of approximately $210 billion. But the actual impact runs even deeper. When indirect economic activities are considered, this figure jumps dramatically to over $830 billion annually. The sector's expansive reach supports roughly 430,000 American jobs across a wide spectrum of industries, underscoring biotechnology’s crucial role in job creation and economic diversification.

According to Sylvia Wulf, Interim Head of BIO’s Agriculture and Environment Center of Excellence, “For the first time, we have a comprehensive, data-driven analysis that quantifies the economic impact of this critical segment of the bioeconomy. This report highlights the immense economic contributions of plant, animal, and biobased product innovations. These insights underline the urgency of public policies and investments that will unlock the bioeconomy’s full potential.” Sylvia will also be a panelist at this year’s SynBioBeta: The Global Synthetic Biology Conference in a session entitled “The Future of the U.S. Bioeconomy.”

Setting the Stage for Explosive Growth

The future appears even brighter. By 2030, biotechnology-driven innovations in plants and animals alone are expected to add an extra $56 billion to the economy. Biobased products—an increasingly important and sustainable alternative to conventional materials—could generate an additional $291 billion by the end of the decade. Overall, the report projects that by 2030, the total economic output of the bioeconomy could reach an impressive $400 billion, nearly doubling its current impact and firmly positioning biotechnology as one of the country's most robust economic sectors.

These projections not only highlight the extraordinary economic power of biotechnology but also frame the bioeconomy as a vital engine of sustainable innovation and national security. As biotechnology continues to grow in prominence, updated regulations and supportive public policy frameworks will be crucial in maintaining U.S. leadership and maximizing the sector’s full potential.