Nanoscience, where physics, chemistry, biology and materials science converge, deals with the manipulation and characterization of matter at molecular to micron scale. Nanotechnology is the emerging engineering discipline that applies nanoscience to create products. Because of their size, nanomaterials have the ability to impart novel and/or significantly improved physical (strength, stiffness, abrasion, thermal), chemical (catalytic, ion-exchange, membranes), biological (anti-microbial, compatibility) and electronic (optical, electrical, magnetic) properties. While chemistry and physics of simple atoms and molecules are fairly well understood, predictable and no longer considered overly complex, serious attempts to bridge across the length scales from nano to macro remain a major challenge, and will occupy researchers and scientists for years ahead. This review paper highlights the potential significant benefits emanating from fibre engineering and selective design of lignocellulosics using evolutionary developmental processes with the objective of producing high value-added products of superior end-use performance for existing and new markets. The development and application of nanotechnologies to increase the potential utilization of renewable biomaterials so as to reduce supply chain costs (better with less material) and add functionality will improve the competitiveness of forestry materials and consolidate their utilization in "smart" packaging, E-paper, advanced engineering and structural composite materials, and cosmetics.