Abstract
In the modern world, the major problems humanity faces, such as exploitation of depleting natural resources, rising population, combined with other environmental and economic challenges, shift our attention towards the booming sector such as bioeconomy. The bioeconomy is a bio-based economy or the knowledge-based bio-economy (KBBE) where the basic building blocks for materials, chemicals, and energy are developed from renewable biological resources, such as plant and animal sources. The bioeconomy contributes to increased energy sources and material production which has a less hazardous impact on the environment. Numerous wastes are dumped on to earth’s surface that can be converted into various bio-economic products. Microbes are primarily utilized to convert wastes into bioeconomy products, which needs several influencing conditions for the conversion process. The present review will unravel the potential impact of the bioeconomy and its history; this study also deals with the current status and future perspective of the bioeconomy.
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