USDA Celebrates Second National Biobased Products Day

WASHINGTON, March 8, 2024 — Today, the U.S. Department of Agriculture (USDA) is honoring the 2nd yearly National Biobased Products Day, an event to raise public awareness of biobased items, their advantages and their contributions to the U.S. economy and rural neighborhoods. Biobased items use chances for more income streams for little and mid-sized farmers while offering customers more sought-after, tidy choices for daily products.

“The Biden-Harris Administration supports and incentivizes biobased items due to the fact that they are what customers desire– and what farmers, and our world, requirement,” Agriculture Secretary Tom Vilsack stated. “American farmers, growers, biobased company owner and innovators are resistant and growing. We are dedicated to commemorating them and the financial, ecological and health advantages of biobased items on National Biobased Products Day.”

As part of USDA’s activities to honor National Biobased Products Day, the Department has actually launched 2 reports and revealed a significant financial investment in Oregon State University’s Global Hemp Innovation.

Economic Impact Analysis of the U.S. Biobased Products Industry

USDA commissioned the report,”An Economic Impact Analysis of the U.S. Biobased Products Industry: 2023 Update,” which reveals that, based upon information from 2021, the biobased items market has actually grown across the country regardless of the effects of the worldwide COVID-19 pandemic.

Secret report findings consist of:

• Biobased items, a sector of the bioeconomy, contributed $489 billion to the U.S. economy in 2021, up from $464 billion in 2020. This is a boost of $25 billion– a 5.1% boost.
• The biobased items sector, and the tasks it supports, are revealed to affect every state in the country not simply to the states where farming is the primary market.
• Using biobased items decreases the intake of petroleum equivalents. In 2017, oil displacement was approximated to be as much as 9.4 million barrels of oil equivalents. In 2021, the displacement grew to 10.7 million barrels of oil equivalents.

Findings cover 7 significant sectors representing the bioeconomy, consisting of: Agriculture and Forestry; Biobased Chemicals; Biobased Plastic Bottles and Packaging; Biorefining; Enzymes; Forest Products; and Textiles. This year’s release is the 6th volume in a series of reports tracking the effect of the biobased item market on the U.S. economy.

Hemp Research and Innovation

USDA likewise launched its”Hemp Research Needs Roadmap (PDF, 7.6 MB),” which shows stakeholder input in recognizing the hemp market’s biggest research study requirements: Breeding and Genetics, Best Practices for Production, Biomanufacturing for End Uses and Transparency and Consistency. These concern research study locations crossed the whole hemp supply chain and are crucial to boosting hemp market research study.

Growing need for biobased items, like those from hemp, develops capacity for added-value usage in food, feed, fiber and other commercial items that can enhance the incomes of U.S. manufacturers and use customers alternative biobased items.

USDA likewise revealed a National Institute of Food and Agriculture $10 million financial investment to Oregon State University’s Global Hemp Innovation CenterThe Center will deal with 13 Native American Tribes to stimulate financial advancement in the western United States by establishing production abilities for products and items made from hemp.

All of these efforts advance U.S. worldwide competitiveness as detailed in the Biden-Harris Administration’s Executive Order on”Advancing Biotechnology and Biomanufacturing Innovation for a Sustainable, Safe, and Secure American Bioeconomy“

Background

Conclusions and suggestions provided within”An Economic Impact Analysis of the U.S. Biobased Products Industry: 2023 Update,” are those of the authors and have actually not been backed by USDA.

The USDA BioPreferred ® Program label motivates customers to purchase items that are typically much safer for the environment, their households and neighborhoods. Products with the “USDA Certified Biobased Product” label are originated from basic materials such as plants and other sustainable farming, marine, and forestry products.

Purchasing these items enables customers to do their part to drive financial success for farmers, growers, biobased company owner and innovators and develop a much healthier world and more sustainable future for everybody. For more details about the BioPreferred Program, see www.biopreferred.gov

NIFA purchases and advances farming research study, education and Extension throughout the country to make transformative discoveries that resolve social difficulties. NIFA supports efforts that guarantee the long-lasting practicality of farming and uses an integrated technique to guarantee that groundbreaking discoveries in agriculture-related sciences and innovations reach individuals who can put them into practice. In FY2023, NIFA’s overall financial investment was $2.6 billion.

Under the Biden-Harris Administration, Rural Development offers loans and grants to assist broaden financial chances, produce tasks and enhance the lifestyle for countless Americans in backwoods. This support supports facilities enhancements; organization advancement; real estate; neighborhood centers such as schools, public security and healthcare; and high-speed web gain access to in rural, Tribal and high-poverty locations. To find out more, check out www.rd.usda.govTo register for USDA Rural Development updates, visit our GovDelivery customer page

USDA touches the lives of all Americans every day in numerous favorable methods. Under the Biden-Harris Administration, USDA is changing America’s food system with a higher concentrate on more durable regional and local food production, promoting competitors and fairer markets for all manufacturers, making sure access to safe, healthy and healthy food in all neighborhoods, developing brand-new markets and streams of earnings for farmers and manufacturers utilizing climate-smart food and forestry practices, making historical financial investments in facilities and tidy energy abilities in rural America, and devoting to equity throughout the Department by eliminating systemic barriers and constructing a labor force more representative of America. To get more information, see www.usda.gov

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USDA is a level playing field supplier, company, and lending institution.