"Bioeconomy is the knowledge-based production and utilization of biological resources, innovative biological processes and principles to sustainably provide goods and services across all economic sectors. It employs biomimicry, and utilizes biosciences to transform established economic sectors, such as chemical industries, pharmaceuticals, food, and construction industries into sustainable ones. The bioeconomy has been rapidly expanding during the past ten years, driven by increased prices of natural resources, by new technological opportunities, and by changed consumer preferences."