The biobased, biodegradable, and compostable advanced materials are one of the emerging technologies in the area of packaging, mainly due to the current need to use alternative materials to those based on fossil fuels, such as petroleum, both in the food industry and in all those industries in which plastic materials are used. Therefore, this chapter addresses the different polymers and their natural sources, as well as their properties, additives, and formulations that present an improvement and advantages for the design of new packaging that can be a viable and natural alternative for use in food preservation, including those considered as active or intelligent packaging. Additionally, the functional properties of packaging, the current state of the market for biobased materials and packaging, and additional perspectives to this field of new biomaterials generation are addressed.