This chapter deals with the origin and evolution of the concept of the bioeconomy. It starts by tracing the first uses of the terms bioeconomics and bioeconomy and goes on to review the development of the concept of the ‘knowledge-based bioeconomy’ in the European Union before discussing the rise of the bioeconomy as a global concept. A shift from a ‘resource substitution perspective’ of the bioeconomy to a ‘biotechnology innovation perspective’ and lately to a ‘green bioeconomy’ is identified. Increasingly, bioeconomy strategies are evolving as enablers for sustainable development. Critical views of the bioeconomy are discussed, distinguishing a ‘fundamental critique’ and a ‘greenwashing critique’ of the bioeconomy. The last section also reviews the relations between the concept of the bioeconomy and the concepts of ‘sustainable development’, ‘green economy’, ‘circular economy’, ‘socio-biodiversity’ and ‘transformation’ and ‘transition’.