<abstract xmlns="http://www.w3.org/1999/xhtml"><p>The introduction into the forestry sector of a bioeconomy has led to the search for new high value-added bio-products that can be produced using the woody biomass residue from timber harvesting. Any introduction of new bio-products must be justifiable from economic, socio-economic, and technological points of view. For successful commercialization, one important consideration is the market potential for such products. In this paper, a methodology for decision-making to evaluate three existing forest by-products for market potential in Latvia has been developed using the GE-McKinsey Nine-Box Matrix, considering market attractiveness and product competitive advantage. The methodological algorithm has been modified to include different factors such as process and product sustainability as well as competitive advantage. The analysis calculates the market attractiveness and competitive advantage of a specific product. As well, the application of this methodology makes a clear and presentable way of determining the viability of investing in new bio-products possible.</p></abstract>

The introduction into the forestry sector of a bioeconomy has led to the search for new high value-added bio-products that can be produced using the woody biomass residue from timber harvesting. Any introduction of new bio-products must be justifiable from economic, socio-economic, and technological points of view. For successful commercialization, one important consideration is the market potential for such products. In this paper, a methodology for decision-making to evaluate three existing forest by-products for market potential in Latvia has been developed using the GE-McKinsey Nine-Box Matrix, considering market attractiveness and product competitive advantage. The methodological algorithm has been modified to include different factors such as process and product sustainability as well as competitive advantage. The analysis calculates the market attractiveness and competitive advantage of a specific product. As well, the application of this methodology makes a clear and presentable way of determining the viability of investing in new bio-products possible.

Bioeconomy Investments: Market Considerations

Environmental and Climate Technologies

This work is licensed under the Creative Commons Attribution 4.0 International License.

{"article-title":"Bioeconomy Investments: Market Considerations"}

The introduction into the forestry sector of a bioeconomy has led to the search for new high value-added bio-products that can be produced using the woody...

Bioeconomy Investments: Market Considerations

Publié en ligne: 23 sept. 2020

Pages: 79 - 91

DOI: https://doi.org/10.2478/rtuect-2020-0056

Mots clés
Bioeconomy, commercialization, forest products, forest residues, GE-McKinsey Matrix, woody biomass

© 2020 Lauma Zihare et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Bioeconomy Investments: Market Considerations

Publié en ligne: 23 sept. 2020

Pages: 79 - 91

DOI: https://doi.org/10.2478/rtuect-2020-0056

Mots clésBioeconomy, commercialization, forest products, forest residues, GE-McKinsey Matrix, woody biomass

© 2020 Lauma Zihare et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Mots clés
Bioeconomy, commercialization, forest products, forest residues, GE-McKinsey Matrix, woody biomass