The products and services that are gotten from biobased resources are very significant in the Global South Countries. These areas are very rich in biodiversity, consisting of numerous biological resources that can be tapped and useful in economic and sustainable development. The key biobased value-added products and services in the Global South are the agricultural and forest biomass, medicinal and nutraceutical products, sustainable textile, and materials and in ecotourism and biodiversity conservation. The forest and agricultural resources are numerous, thereby providing opportunities to produce value-added products such as biofuels (ethanol and biodiesel) that are used instead of non-renewable fossil fuels. Residues from agriculture and forest biomass can be used to produce biochar, biofertilizers, and bioplastics, thereby leading to a sustainable waste management. The biodiversity in the Global South is rich in medicinal plants which can be utilized to produce biobased nutraceuticals, pharmaceuticals, and supplements. When these biobased resources are harnessed, there are job creation opportunities and improvement in healthcare activities. The textile industry in the Global South is well developed, and biobased products can be sustained by integrating with biobased materials. Ecofriendly textiles can be manufactured from raw materials from crops such as jute, bamboo, and cotton. Ecotourism and biodiversity are unique with various natural landscapes which serve as places for conservation and ecotourism. Some value-added services are nature tours, initiatives for wildlife conservation, and community-based tourism. These can generate income, protect the ecosystem, and increase awareness of the importance of conserving biodiversity in the Global South. Biobased value-added products have numerous potentials and supportive policies, and investments are necessary. Research and development can be prioritized by stakeholders which promotes development and collaboration between the industry, local communities, and academia. When these resources are harnessed sustainably, economic growth can occur and social development can be promoted, thereby leading to a sustainable future.