A critical review of the inventory of targeted valorization options for bio-based plastic waste is presented with limitations and opportunities. Impacts on conventional waste management routes and the environment are considered. The provisions of the circular economy package, the targets and objectives set by the relevant EU environmental legislation, are used as key drivers for developing the inventory of the alternative EoU/EoL routes. Optimal alternative EoU/EoL routes are defined for the bio-based products in such a way that they are turned into valuable resources for the circular economy. This is a prerequisite to promote recirculation of bio-based by-products and waste streams along the whole chain of their production and use.