Biosolutions could create more than 600,000 jobs and unlock hundreds of billions in growth for Europe

Core Insights - The biosolutions sector in Europe has the potential to generate EUR 133 billion in economic gains and create over 600,000 jobs by 2035, contingent on supportive policy frameworks [1][2][4] - Each job in the biosolutions industry is estimated to create nearly three additional jobs in other sectors, highlighting a significant multiplier effect [3][7] - The global biosolutions market could inject over EUR 877 billion into the economy and generate more than five million jobs by 2035, emphasizing the urgency for Europe to capitalize on this opportunity [8][14] Economic Impact - By 2035, the biosolutions industry could contribute EUR 133 billion to the European economy, with EUR 46 billion in direct value, equivalent to the combined annual contributions from France, Italy, and Spain to the EU budget [2][14] - The potential economic footprint of biosolutions globally could reach EUR 877 billion, with EUR 291 billion in direct value creation [14] Job Creation - The biosolutions industry could create over 600,000 direct and indirect jobs in Europe by 2035, comparable to the entire population of Luxembourg [2][14] - Globally, the biosolutions sector could generate over five million jobs by 2035, with each job in Europe leading to approximately 2.9 additional jobs [14] Competitive Landscape - Europe is at risk of falling behind in the global biosolutions race due to slower regulatory processes, with novel protein approvals taking up to three years compared to four to six months in Singapore [5][6] - Countries like Brazil are implementing faster regulatory frameworks to support biosolutions, which could position them ahead of Europe if timely action is not taken [6][14] Policy Recommendations - Industry leaders are advocating for immediate policy action and a robust regulatory framework to enhance Europe's competitiveness in the biosolutions sector [4][9] - A bold and broad EU Biotech Act is suggested to streamline approval processes and foster the growth of biosolutions companies in Europe [7][9]