Traditionally, rural areas are locations where food and feed are predominantly produced. Nowadays, farmers are also converting biogenic resources, such as biomass and biowaste, into bioenergy, which creates an additional income. The biologization of the economy relies not only on food, feed, or bioenergy production but also on a holistic use of the potential of biogenic resources. It remains, however, to be shown whether rural areas also properly materially use biogenic resources, which requires special knowledge in pretreatment, conversion, and downstreaming to obtain pure products of choice and create high value. This contribution sheds light on the chances and challenges, food–feed–material–fuel competition, coming along with the biologization of the economy of rural areas.