The European Commission defines the bioeconomy as "the production of renewable biological resources and the conversion of these resources and waste streams into value added products, such as food, feed, bio-based products and bioenergy. Its sectors and industries have strong innovation potential due to their use of a wide range of sciences, enabling and industrial technologies, along with local and implied knowledge." The Bulgarian food industry faces a lot of challenges on the local and national level, which have direct influence on the structure of the production companies. Most of the enterprises from the food sector produce under foreign brands in order to be flexible partners to the large Bulgarian retail chains. The small companies from the food sector are not able to develop as an independent competitive producer on the territory of their local markets. This kind of companies rarely has a working strategy for positioning on new markets. In order to consolidate their already built positions for long period of time, the producers are trying to optimize their operations in a short term. However, the unclear vision of the companies for the business segment does not allow them to fully develop. Tourism in Bulgaria is a significant contributor to the country's economy.
