Bioenergy-Based Sustainable Bioeconomy—Perspectives and Challenges

Bioenergy is a renewable energy that can be obtained, from biological resources in abundance. The resources include microorganisms, plants, animals and recently, biomass. The applications of bioenergy are wide. It can be used for cooking purpose, power generation, etc. It can also be used as a substitute for petroleum products in both liquid and gaseous forms. Bioenergy is been considered as Nextgen fuel, replacing the other fossil fuels, either partially or completely. Bioeconomy refers to a prudential usage of bioenergy obtained from biological resources. It also deals with conservation of bioenergy, thereby, aiming at sustainable economy for the human welfare. The precise meaning of biological resources not only includes plants, animals, microorganisms or biomass but also the relatable scientific and technological knowledge and innovative ideas based on the same. In the early twenty-first century, the European Union (EU) and Organization of Economic Cooperation and Development (OECD) provided a spotlight on bioeconomy concept. The strategies of bioeconomy, in a holistic approach, aim at sustainable development with circular economy. Sustainable bioeconomy strongly focuses in mitigating global challenges like depletion of fossil fuels, endangered biodiversity, unpredictable inconsistent climatic changes, environmental pollution, etc. It paves a new approach by promoting green-based employment. Thereby, our country’s economic status will escalate. Its paramount focus is on the manufacture and consumption of world’s finite resources the bioenergy, in an equitable proportion with circularity. This chapter deals with the bioenergy, bioeconomy, circular economy, perspectives, and challenges of the same.