Ceaseless growth in human population led to high demand in everything. Currently, the world largely depends on petroleum-based "all material synthesis" scheme. On the other hand, depletion of fossil-based resources and their huge impact on environmental pollution have forced us to search for sustainable and eco-friendly alternative resources. In this context, the notion to utilize waste biomass could possibly provide environmental and economic benefits. This study was carefully designed to critically review state of the art in the transformation of waste biomass into value-added products. Even though extensive reviews on biomass utilization have been published in the past few years, the current study basically focused on new trends and prospective in this area. Here, global biomass potential, research developments and practices, novel biomass transformation approaches, and future perspectives were broadly discussed. More importantly, in addition to revising published researches, already implemented and ongoing large-scale projects on valorization of waste biomass have been assessed. Therefore, this study is believed to give crucial information on the current status and future direction of waste biomass utilization so as to accomplish the quest towards green economy.Key Points • Huge biomass potential and dramatically increase in R&D trends on waste biomass.• Selection of appropriate waste biomass valorization techniques. • Development of efficient and feasible waste biomass transformation technology. • Coproduction of low-value, high-volume and high-value, low volume products.
Keywords: Bio-based; Lignocellulose; Valorization; Value-added products; Waste biomass.