Rising energy concerns, rapid infrastructure development, and greater environmental awareness have fueled the demand for sustainable materials. In this direction, sustainable bio-based polymer generated from different resources through several operations can meet most of the annual synthetic plastics demand at least in Europe. The advancement of sustainable technologies for the effective utilization of sustainable materials for bioplastic and biomaterials production can afford a novel biorenewable source of sustainable products and biofuel as well as address the rising environmental concerns. Poly(butylene succinate) is one biopolymer that has enormous potential to be used in a wide range of applications. There is currently no extensive review on the PBS based polymer covering the advanced technologies for the development of high-value material. This article covers the advanced state of synthesis, process integrating biological and thermochemical conversion to produce bioplastics (PBS), physico-chemical and mechanical properties, and the recent applications. We have also provided a structural perspective on how PBS can be adopted via appropriate engineering/ modification to its properties. Different changes in the precursors of polymer materials and composites enable a various range of applications, including but not limited to the manufacturing of high-performance polymer materials to composites.