Colombia has a big opportunity to take advantage of the global trend of the biobased and circular economy. This trend is relatively new but the Colombian market already is aware of the importance of preserving and protecting the vast biodiversity that the country has: Colombia registers 50,0000 species and protects 31 million hectares (15% of the national territory).

Colombia is the second most biodiverse country in the world and can become a leader in the industry because:

• The cosmetics and household care product sector are changing to include natural ingredients. ProColombia expects that by 2032, Colombia can become the leader in LatAm in the production and export of high-quality cosmetics and household care products based on natural ingredients.¹
• The Nature-based Colombian market is increasing at a rate of 18%, illustrating that Colombians are shifting towards using sustainable and inclusive products that help to protect Colombian biodiversity and support communities.
• The implementation of the modern biotechnology in the rural areas of Colombia would allow to increase agricultural and livestock productivity in a more sustainable way, and therefore meet the demand for food required by the population.²
• In terms of the food sector, Colombia has a good reputation worldwide thanks to the quality of its products and multiple natural ingredient sellers have the interest that Colombian companies become ingredient suppliers to replace expensive inputs from other countries.³
• In the chemical industry, Colombia has a big opportunity to commercialize natural ingredient: Biological medicines, biosimilar medicines, and blood products.⁴
• Colombia already has different commitments in terms of sustainability and climate change, creating a vibrant environment for projects in this industry to thrive:
  • Reduce CO2 emissions by 20% by 2030
  • Reduce the use of packaging material by 30% by 2030
  • Increase in water productivity of 15% by 2030⁵