Biofineries can help solve a major environmental problem while providing long-term resources for the production of chemicals and materials. Climate change, resource depletion, and population growth have led to a rapid shift toward acircular economy, which is expected to unfold over the next few decades. However, the transformation will necessitate the application of scientific innovations as well as major changes in infrastructure in the chemical industry and the widespread trend towards using bioconversions in the treatment of biodegradable environmental waste and the production of bioproducts with high market value and economic feasibility.