Exploring business model strategies to achieve a circular bioeconomy from a waste valorization perspective

The circular economy and the circular bioeconomy share common goals such as the proper recovery of products, the creation of value from waste, the minimization of waste disposal, and the contribution to the circularity. To transition to the circular bioeconomy, organizations need to develop or adapt their business models along with the implementation of technological innovations. However, current research lacks a comprehensive understanding of the transition to a circular bioeconomy, from a business model perspective. This study aims to identify the business model strategies and determinant factors to achieve a circular bioeconomy. To achieve this goal, the methodology employed was a content analysis of a systematic literature review on business models in the field of circular bioeconomy, complemented by a cross-analysis of case studies. The main findings revealed that processes and technologies for waste valorization, such as biorefineries and anaerobic digestion; business model development; collaboration and government support are the determinant factors. The cases studied confirm this combination of factors, such as improving technologies in a gradual transition of processes and products toward waste circularity, relying on public incentives and collaboration between supply chain partners, leading to the development of a business model. The main contribution of this paper is the disclosure of an overview of solutions and practical recommendations for organizations, to address the business models strategies and factors that can enable the transition to a circular bioeconomy, focusing on the valorization of waste streams.