Due to highly functionalized molecular structure, furfural has made a huge impact in renewable platforms. As there is a big need of producing renewable sources, this review reveals several attempts made by researchers distributed in every nook and corner of the world to produce furfural-based derivatives. As furfurals are converted to various forms, they reflect many applications both with respect to economy and environment friendly approach. In this review, a summarized detail of various reactions of furfural substrates are provided which includes Diels-Alder reactions, Oxidations, Hydrogenations, Hydrogenolysis, Conversions to C6 Carboxylic acids, Furfuryl amines, Cyclopentenones and other useful compounds. These compounds and their applications in various fields are mentioned systematically. The chemical as well as biocatalytic conversions are explained in detail which will help to know the future challenges and hurdles when design and optimization of furfural derivatives are concerned.