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Circular Business Models for the Bio-Economy: A Review and New Directions for Future Research

Author

Listed:
  • Wiebke Reim

    (Entrepreneurship and Innovation, Luleå University of Technology, 971 87 Lulea, Sweden)

  • Vinit Parida

    (Entrepreneurship and Innovation, Luleå University of Technology, 971 87 Lulea, Sweden
    Department of Management, University of Vaasa, FI-65200 Vaasa, Finland)

  • David R. Sjödin

    (Entrepreneurship and Innovation, Luleå University of Technology, 971 87 Lulea, Sweden)

Abstract

Circular and bio-economy represents a political and industrial initiative to ensure that our society can rely on renewable biological sources while achieving economic growth. However, there is a need to critical review how realistic and feasible such initiatives are towards fulfilling the promised benefits of this economy. The literature on bio-economy often discusses the importance of innovative business models and their role in a successful shift to a bio-economy. Still, much of the discussion that is related to circular business models is fragmented and immature. Therefore, the purpose of this study is to conduct a systematic literature review of circular business model activities and the barriers to a bio-economy. Further, this review provides future research directions for a shift to a bio-economy. This study is based on a systematic review of 42 scientific journal articles and book chapters on a forest-based bio-economy. The business model canvas is used to provide a structured aggregation of the existing circular business models activities being used by the forestry sector. In addition, we develop a framework that describes the barriers to bio-economy-based circular business models and suggest new directions for future research. The study highlights the need for alignment among the elements of a business model as a key condition for its successful implementation in a bio-economy.

Suggested Citation

  • Wiebke Reim & Vinit Parida & David R. Sjödin, 2019. "Circular Business Models for the Bio-Economy: A Review and New Directions for Future Research," Sustainability, MDPI, vol. 11(9), pages 1-14, May.
    • Handle: RePEc:gam:jsusta:v:11:y:2019:i:9:p:2558-:d:227993
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    References listed on IDEAS

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    Cited by:

    1. Niklas Johansson & Eva Roth & Wiebke Reim, 2019. "Smart and Sustainable eMaintenance: Capabilities for Digitalization of Maintenance," Sustainability, MDPI, vol. 11(13), pages 1-19, June.
    2. Marcelo Werneck Barbosa, 2022. "A Critical Appraisal of Review Studies in Circular Economy: a Tertiary Study," Circular Economy and Sustainability,, Springer.
    3. Di Letizia, Gerardo & De Lucia, Caterina & Pazienza, Pasquale & Cappelletti, Giulio Mario, 2023. "Forest bioeconomy at regional scale: A systematic literature review and future policy perspectives," Forest Policy and Economics, Elsevier, vol. 155(C).
    4. Ana de Jesus & Minna Lammi & Teresa Domenech & Fedra Vanhuyse & Sandro Mendonça, 2021. "Eco-Innovation Diversity in a Circular Economy: Towards Circular Innovation Studies," Sustainability, MDPI, vol. 13(19), pages 1-22, October.
    5. Mechthild Donner & Ivana Radić, 2021. "Innovative Circular Business Models in the Olive Oil Sector for Sustainable Mediterranean Agrifood Systems," Sustainability, MDPI, vol. 13(5), pages 1-21, February.
    6. Fernando Crecente & María Sarabia & María Teresa del Val, 2021. "Sustainable Entrepreneurship in the 2030 Horizon," Sustainability, MDPI, vol. 13(2), pages 1-11, January.
    7. Julia Martínez-Cabrera & Francisco López-del-Pino, 2021. "The 10 Most Crucial Circular Economy Challenge Patterns in Tourism and the Effects of COVID-19," Sustainability, MDPI, vol. 13(9), pages 1-41, April.
    8. Maria Rosaria Alfano & Claudia Cantabene & Amedeo Lepore & Stefano Palermo, 2023. "The green to circular bioeconomy transition: Innovation and resilience among Italian enterprises," Business Strategy and the Environment, Wiley Blackwell, vol. 32(8), pages 6094-6105, December.
    9. Mechthild Donner & Hugo de Vries, 2023. "Innovative Business Models for a Sustainable Circular Bioeconomy in the French Agrifood Domain," Sustainability, MDPI, vol. 15(6), pages 1-29, March.
    10. Durwin H.J. Lynch & Pim Klaassen & Lan van Wassenaer & Jacqueline E.W. Broerse, 2020. "Constructing the Public in Roadmapping the Transition to a Bioeconomy: A Case Study from the Netherlands," Sustainability, MDPI, vol. 12(8), pages 1-18, April.
    11. Khan, Feroz & Ali, Yousaf, 2022. "Moving towards a sustainable circular bio-economy in the agriculture sector of a developing country," Ecological Economics, Elsevier, vol. 196(C).
    12. Marcos Ferasso & Tatiana Beliaeva & Sascha Kraus & Thomas Clauss & Domingo Ribeiro‐Soriano, 2020. "Circular economy business models: The state of research and avenues ahead," Business Strategy and the Environment, Wiley Blackwell, vol. 29(8), pages 3006-3024, December.
    13. Barbara Bigliardi & Serena Filippelli, 2021. "Investigating Circular Business Model Innovation through Keywords Analysis," Sustainability, MDPI, vol. 13(9), pages 1-23, April.
    14. Mechthild Donner & Hugo de Vries, 2023. "Innovative business models for a sustainable circular bioeconomy in the french agrifood domain," Post-Print hal-04047682, HAL.
    15. Feng Xiong & Xiaoyu Zeng & Yi (Fionna) Xie & Yan Li, 2022. "Design (Allocation) of a Carbon Emission System—A Lesson from Power Restrictions in Zhejiang, China," Sustainability, MDPI, vol. 14(19), pages 1-31, September.
    16. Muluken Elias Adamseged & Philipp Grundmann, 2020. "Understanding Business Environments and Success Factors for Emerging Bioeconomy Enterprises through a Comprehensive Analytical Framework," Sustainability, MDPI, vol. 12(21), pages 1-18, October.
    17. G. Venkatesh, 2022. "Circular Bio-economy—Paradigm for the Future: Systematic Review of Scientific Journal Publications from 2015 to 2021," Circular Economy and Sustainability,, Springer.
    18. Mechthild Donner & Ivana Radić, 2021. "Innovative circular business models in the olive oil sector for sustainable mediterranean agrifood systems," Post-Print hal-03158870, HAL.

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