Opportunities for Bioeconomy Development: A Study of the Latvian Forest Sector and Identification of High-Value Niche Products

Climate change, rising food and feed demand, and biodiversity loss necessitate a more sustainable, innovative, and knowledge-based bioeconomy. This research analysed and compiled statistical data, reports, and other official information from Latvian forest sector stakeholders to understand its system components. After identifying main enablers and constraints, a methodology was established to find niche products with high added value through which the potential of the forest sector could be built. The system components of the Latvian forest sector and future growth scenarios for wood-based niche products showed similar outcomes for current constraints and drivers for the bioeconomy and forest sector. As a result, a number of action measures were proposed at government and policy planning level; measures to strengthen research and development, and activities to promote the production of higher value-added products and the development of a sustainable bioeconomy.