Biofuels have incrementally advanced as promising alternatives to fossil fuels, offering a sustainable solution to alleviate environmental degradation and address energy security concerns. The exploration of novel feedstock resources has expanded the scope of biofuel production, diversifying raw material sources beyond conventional crops like corn and sugarcane, which also serve as food sources. Lignocellulosic residues, cyanobacteria, microalgae, and genetically engineered organisms represent promising alternatives for biofuel production that offer higher sustainability and zero competition with food production. The present chapter provides a detailed overview of recent advancements and trends in biofuel research, highlighting key breakthroughs and their implications for sustainable energy production. The development of biofuels with superior combustion characteristics and reduced emissions is crucial for the widespread adoption and integration of biofuels into existing transportation systems. It scrutinizes the relevance of biofuels in addressing the pressing concerns of green aviation and emphasizes the necessity of sustainable energy alternatives in the aviation sector. The chapter highlights key phases of biofuel life cycle assessment (LCA) for sustainable development and consumption. Moreover, an overview of global biofuel production trends is presented, emphasizing the worldwide transition from fossil fuels to biofuels, along with its limitations and future directions.