Strategies for Brand Owners and Retailers in the Circular Bioeconomy Transition

Abstract

Transition pathways from the current economic system towards a sustainable and circular bioeconomy are often discussed in terms of policymakers and institutional actors’ roles, while brand owners’ and retailers’ responsibilities, risks, and opportunities have been analysed to a lesser extent. Transition pathways can be expected to take different forms depending on the severity of the pressure for change and the readiness level of respective innovations. Awareness of the potential development of these factors can be used to tailor strategies for brand owners and retailers. In response to the impacts of climate change, society’s demand to shift towards more sustainable and mainly circular bioeconomy practices is still low, especially compared to the significant landscape pressure exerted by the COVID-19 crisis. This low-pressure state allows stakeholders to choose from among the various strategies outlined in this chapter to form and partake in the circular bioeconomy regime of tomorrow. Not taking action now could potentially lead to an incumbent company losing their position to others who accept the risks and costs associated with adopting circular bioeconomy practices.