Trametes versicolor in lignocellulose-based bioeconomy: State of the art, challenges and opportunities

[Display omitted] •The prospects of T. versicolor in lignocellulose-based bioeconomy are encouraging.•Solid-state fermentation – a promising technology for lignocellulosic biorefineries.•T. versicolor and laccase crude extracts are both efficient in wastewater treatment.•Great potential for lignocellulose valorization to feed, biogas and biofertilizers. Although Trametes versicolor is one of the most investigated white-rot fungi, the industrial application of this fungus and its metabolites is still far from reaching its full potential. This review aims to highlight the opportunities and challenges for the industrial use of T. versicolor according to the principles of circular bioeconomy. The use of this fungus can contribute significantly to the success of efforts to valorize lignocellulosic waste biomass and industrial lignocellulosic byproducts. Various techniques of T. versicolor cultivation for enzyme production, food and feed production, wastewater treatment, and biofuel production are listed and critically evaluated, highlighting bottlenecks and future perspectives. Applications of T. versicolor crude laccase extracts in wastewater treatment, removal of lignin from lignocellulose, and in various biotransformations are analyzed separately.