Bioeconomy consists of the management of renewable biological resources and their conversion into food, livestock feed, bio-based products and bioenergy. It involves tackling major challenges, both now and in the future. Bioeconomy is one of the cornerstones for the Baltic Sea Region economies. The region is extremely rich of forest biomass, has strong agricultural sector and the blue bioeconomy is well developed. The region, as a net biomass producer, can realize a great opportunity by focusing on increasing the value of products and services throughout the value chain.