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Developing polymer materials from biomass presents a promising solution to address pressing environmental and resource concerns. While a range of biobased general polymer materials have already found success in industrial applications, the quest to unlock highly valuable functional polymers and intelligent materials derived from biomass, such as shape memory polymers (SMPs) and self-healing materials, remains a formidable challenge. This review aims to chart a sustainable course towards the development of SMPs sourced from biobased materials. Extensive research in the realm of SMPs has significantly expanded our understanding of their molecular mechanisms, response to various stimuli, and modes of actuation. As a result, a plethora of intriguing systems have emerged, each holding enormous potential in diverse applications, including actuators, sensors, smart textiles, biomaterials, and space-deploying devices. This review underscores the exciting advancements in the field and paves the way for future innovations in environmentally friendly and resource-efficient polymer materials.