Lignocellulosic biomass includes wastes from different sources like agriculture wastes, forest remains, industrial wastes and algae wastes. Recycling of these wastes by converting them into value-added bio-based products can lead to a reduction in tons of global wastage and at the same time will also add to global economy. Lignocellulosic wastes contain significant quantities of cellulosic materials that are considered as natural polymers. The cellulose can be further reduced to nanoscale dimension leading to nanocellulose, through the application of various extraction techniques like physical, biological, and chemical methods. Nanocellulose possesses some extremely significant properties, including biodegradability and biocompatibility, high aspect ratio, better mechanical attributes, easy surface modification, crystallinity, non-toxic nature, and water absorption capacity, making it a perfect material for a wide range of applications. Jackfruit, known as the poor man&rsquos fruit of India, is grown in abundance in different parts of the country. Jackfruit peel constitutes around 60% of the whole fruit. The consumption and processing of jackfruit lead to production of tons of waste. Thus, jackfruit peel can be utilized for the extraction of cellulose and nanocellulose, which will contribute towards waste valorisation. The jackfruit peel cellulose was extracted using alkali and bleaching treatments. The maximum yield of cellulose was obtained at 12% NaOH concentration. The crystallinity of cellulose was found to be 69.4%. The FTIR analysis confirmed the removal of non-cellulosic materials such as hemicellulose and lignin. The rheological characteristics of cellulose was studied at different concentrations of cellulose. The jackfruit peel cellulose was further acid hydrolysed using different organic and inorganic acids to obtain jackfruit peel nanocellulose. The particle size reduced upon extraction of nanocellulose. The nanocellulose had negative zeta potential values that depicts its better stability in dispersions. The crystallinity was found to increase in nanocellulose as the amorphous regions were hydrolysed during acid treatment. Further, the impact of ball milling and oxidation technique for nanocellulose isolation will be conducted. The jackfruit peel nanocellulose having the best characteristics will be used to develop oleogel and packaging film. Oleogels have evolved as a novel technique of restructuring the liquid oils to solid systems. They can help in replacing the solid fat in food products, encapsulation of hydrophobic molecules, and for enhancing nutritional properties of food products. The incorporation of nanocellulose into packaging film solution will enhance its mechanical strength and improve its water barrier properties.