Valorisation of lignocellulosic biomass to value-added products: Paving the pathway towards low-carbon footprint

[Display omitted] •Valorisation of lignocellulosic biomass into various useful products.•Integrating biological funnelling pathway in the bio-refinery concept.•Production of biofuels from biomass paves a path towards less carbon foot print.•Effective pre-treatment of lignocellulosic biomass enhances product yield.•Higher value added production from lignocellulosic biomass has good commercial value. Biofuel is the presently needed potential energy reservoir as an alternative to wearying fossil fuel-based technology. Second generation lignocellulose is considered to be the most abundant source of renewable feedstock among the biomaterials. Lignocellulose biomass (LCB) is the effective feed stock for bio-based chemicals for carbon neutrality, which paves critical prospect for significant sustainable and renewable development. This review discusses the types of biomass, characterization, and value-added products developed. Integrating the biological funnelling pathway in the bio-refinery concept and explaining the genetic modification of lignocellulosic biomass for enhanced yield is also discussed. The outlook on lowering the carbon footprint by discussing in detail the life cycle carbon balance, process development tools, supply chain description, and circular economy.