Energy stands as the bedrock of development in all components of global society, which includes sustaining ecosystems, life, and human civilizations. Bioenergy is embedded in global biomass systems which include food, fodder, fiber production, forest products, waste, residue management, and the lives of the poor in developing nations. Bioenergy is a key component of the energy economy, accounting for about 70% of renewable energy sources. The growth of bio-product development and production worldwide has been tremendous over the past decade. The growing energy demand from different sectors is fueling the continuous rise in energy prices globally, creating immense problems for energy-importing countries. In terms of end uses, the buildings sector accounts for the largest share of total bioenergy consumption (both modern and traditional) that consists of fuel for cooking and space heating (26%). Lessening the dependence on foreign energy sources and global warming concerns are the major reasons behind the continuous enthusiasm for renewable energy, especially biofuels. Although fossil fuel consumption is still predominant in the global energy market, the growing uncertainties about future supplies, declining productivity of some sources, and increasing costs associated with expanding proven reserves are forcing national energy policymakers to look for an alternative, cleaner energy sources. Biotechnology research and innovation boost the flourishing bioeconomy creating new bioproducts and more effective biomass refining methods. Governments all over the world are actively encouraging bioenergy production and are either implementing policies or legislation to govern its development. Bioenergy is being used at an increasing rate due to technological progress, increased acceptance, and supportive policy shifts, especially the global commitment to achieving the Sustainable Development Goals (SDGs), particularly SDG7, which focuses on ensuring access to affordable, reliable, sustainable, and modern energy for all.