Non‐renewable resources have adverse effects on the environment, which result in global warming. Research has been shifted toward sustainable resources and lignocellulosic biomass is the best example of this. Lignocellulosic biomass is inexpensive, abundantly available and a rich source of carbon, which makes society less dependant on the use of fossil fuels. It is necessary for society to stop using petroleum‐based technologies and start developing more biomass‐based technologies. Lignocellulosic biomass can be converted into levulinic acid through various methods. Various value‐added chemicals are synthesized from levulinic acid, such as levulinate esters, acrylic acid, β‐acetyl acrylic acid, 1,4‐pentanediol, 2‐methyl tetrahydrofuran, γ‐valerolactone, etc. Among these, levulinate esters have received much attention owing to their broad applications as fuel additives, plasticizers and solvents in the pharmaceutical industries. Levulinate esters can be synthesized from the esterification reaction of levulinic acid and alcohol in the presence of either liquid or solid acid catalysts. Heterogeneous catalysts are favoured above homogeneous catalysts because of their properties, like being easy to separate, having good catalytic activity, being non‐corrosive to the reactor and having good recyclability. The performance of various heterogeneous catalysts such as zirconia, heteropolyacids, zeolite, carbonaceous material, resins and biocatalysts is reported in detail in the review. © 2022 Society of Chemical Industry and John Wiley & Sons, Ltd