Abstract Bioeconomy is deemed to be an ambiguous term with multiple facets: new products from biomass, circular and cascading resource systems, developments of new and more resilient plants, or synthetic biology for molecular biotechnology, to name a few. Accordingly, the term is interpreted just as diversely by involved stakeholders and the broader public. To enable a clear and constructive dialog on bioeconomy strategies with and among society requires a profound understanding of these perceptions. Addressing this issue, a representative survey was conducted among the German population in order to scrutinize the general public's understanding of the term bioeconomy, citizens’ knowledge, fears, and expectations, as well as factors explaining their attitudes toward the bioeconomy. Our results indicate that, so far, German citizens are not very familiar with the concept. Its underlying ideas, however, are vastly appreciated. Support for a sustainable bioeconomy is thus strong and connected to high expectations in terms of environmental and economic benefits, which needs to be taken into account both in the implementation and communication of bioeconomy strategies. Support for the bioeconomy is furthermore connected to beliefs that reflect environmental concern and to pro-environmental behavior. While most measures and principles related to the bioeconomy (e.g., the use of biogas, biofuels, renewable materials for everyday products or buildings, or the cascading and circular use of resources) are strongly appreciated, the use of genetic engineering, for example, is opposed, mainly with regard to its applications in agriculture and industry, to a lesser extent in medicine.