In the twenty-first century, both industrialised and developing countries must address the current global energy problem and growing environmental concerns about global climate change. Biomass is the only sustainable source of carbon that can produce low-cost transportation fuels and organic compounds, as it is obtained from non-food sources of lignocellulose, sugars, and triglycerides. Biorefineries are becoming increasingly significant in providing chemical industry operations with long-term solutions. The development of "green chemistry" approaches in tandem with traditional chemistry is enabled by the introduction of bio-economic models based on biorefineries for the generation of novel products with high added value, such as biochemicals and bioplastics. Biomass is increasingly being used as a renewable feedstock in place of fossil fuels for the manufacture of chemicals, materials, and bioenergy. Biorefinery plans, on the other hand, must meet particular innovation requirements in order to be sustainable.