| Summary: | The world today is not only facing the problem of depleting energy sources but also generation of waste from anthropogenic activities. While waste is a risk, it is also an opportunity to solve this dual problem through utilization of waste as a potential source of energy and products. In order to reconcile the management of waste to the scale of its production, several researches are being pursued. Establishment of bioeconomy is a great way to achieve this goal. But inherent challenges associated with biowaste include manageability of by-products and sludge, wide variety in waste composition, efficiency of the process and economic viability of treatment technologies to scale-up and industrialize beyond laboratory setup. Recent advancements have been made in this regard with the use of new techniques, synergistic catalysts, combination of technologies and novel treatment materials to remediate the challenges and maximize the value of waste by utilizing it as a feedstock to produce industrial chemicals, fuels and materials. This review provides an insight into these developments, along with the critical discussion, limitations and economic feasibility of waste valorization technologies to provide new understanding for the advancement of bioeconomy. © 2020 Elsevier Ltd
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