Combinatorial optimization problems are often considered NP-hard problems in the field of decision science and the industrial revolution. As a successful transformation to tackle complex dimensional problems, metaheuristic algorithms have been implemented in a wide area of combinatorial optimization problems. Metaheuristic algorithms have been evolved and modified with respect to the problem nature since it was recommended for the first time. As there is a growing interest in incorporating necessary methods to develop metaheuristics, there is a need to rediscover the recent advancement of metaheuristics in combinatorial optimization. From the authors’ point of view, there is still a lack of comprehensive surveys on current research directions. Therefore, a substantial part of this paper is devoted to analyzing and discussing the modern age metaheuristic algorithms that gained popular use in mostly cited combinatorial optimization problems such as vehicle routing problems, traveling salesman problems, and supply chain network design problems. A survey of seven different metaheuristic algorithms (which are proposed after 2000) for combinatorial optimization problems is carried out in this study, apart from conventional metaheuristics like simulated annealing, particle swarm optimization, and tabu search. These metaheuristics have been filtered through some key factors like easy parameter handling, the scope of hybridization as well as performance efficiency. In this study, a concise description of the framework of the selected algorithm is included. Finally, a technical analysis of the recent trends of implementation is discussed, along with the impacts of algorithm modification on performance, constraint handling strategy, the handling of multi-objective situations using hybridization, and future research opportunities.