This report, launched at COP24 in Katowice, looks at the current status of the bioeconomy and its role in low carbon development scenarios. It also maps the four largest barriers for the industry and pathways for progress. This report presents an assessment of the state-of-play of two key bioeconomy sectors - biofuels and non-energetic bioproducts. It was commissioned by the Biofuture Platform - a government-led, multi-stakeholder initiative created to support the development of the sustainable, low carbon bioeconomy - and was coauthored by the Carbon Trust and Way Carbon.