CIRCULAR BIOECONOMY DEVELOPMENT FACTORS IN SELECTED EUROPEAN UNION COUNTRIES (2012-2021)

Circular bioeconomy constitutes one of the key developmental strategies of the European Union. Understanding the conditions for the advancement thereof is crucial for successfully implementing these principles in daily production and consumption. The aim of this study was to identify the key drivers within bioeconomy indicators. The research was conducted based on bioeconomy indicators classified by the European Commission. Data were obtained from Eurostat and FAOSTAT, describing phenomena recognised as bioeconomy indicators for the period from 2012 to 2021. The analysis covered selected EU countries - member states that joined the community before 2004. The data underwent exploratory factor analysis, which identified five groups of indicators linked to underlying factors. These factors were identified as: Innovation, Institutional Conditions: Implementation of the Circular Economy Strategy, Institutional Conditions: Implementation of Sustainable Development Policies, Resource Efficiency, and Support and Expansion of Forested Areas. The analysis also identified certain risks associated with the development of bioeconomy, as measured by the indicators defined by the European Commission. The mentioned risks relate to a decline in food purchasing power and a decrease in biodiversity.