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Research Article

The Role of Bio-Based Innovations in Circular Economy: A Biochemical and Economic Perspective

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Abstract

The concept of the circular economy (CE) is gaining prominence as a sustainable alternative to the traditional linear economy. Bio-based innovations, which harness biological resources for production, offer promising solutions to resource depletion and environmental degradation. The increasing global emphasis on sustainable development has catalyzed the shift from traditional linear economic models towards a more sustainable and efficient circular economy. Within this transformation, bio-based innovations play a critical role, particularly in reducing environmental impact, enhancing resource efficiency, and stimulating economic growth. This research examines the biochemical processes underlying bio-based innovations and their potential economic benefits within a circular economy framework. It explores the significance of bio-based innovations from both biochemical and economic perspectives, examining their role in fostering a circular economy. The integration of bio-based materials and processes, which utilize renewable biological resources, not only reduces dependency on fossil fuels but also promotes the regeneration of biological systems. Economically, the bio-based sector contributes to job creation, GDP growth, and overall economic resilience. This study also analyzes how bio-based innovations can be harnessed for waste valorization, resource recovery, and environmental sustainability, culminating in a balanced approach to circular economy principles. Using case studies and statistical analysis, the paper presents a comprehensive view of the biochemical mechanisms and economic implications of bio-based innovations, with recommendations for policy and business strategies.

Article information

Journal

Journal of Medical Science, Biology, and Chemistry

Volume (Issue)

1 (1)

Pages

21-27

Published

02-11-2024

How to Cite

Yusuf, J. A., & Ojedokun, R. O. (2024). The Role of Bio-Based Innovations in Circular Economy: A Biochemical and Economic Perspective. Journal of Medical Science, Biology, and Chemistry, 1(1), 21-27. https://doi.org/10.69739/jmsbc.v1i1.148

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Keywords:

Bio-Based Biochemical Circular Economy Economic