Background: The transition from fossil-derived polymer additives to renewable alternatives is essential to mitigate environmental persistence and ensure chemical safety within the plastics industry. This review provides a comprehensive overview of recent developments in bio-based functional additives and their integration into circular economy frameworks. Methods: Following PRISMA guidelines, a systematic literature search was conducted using the Scopus database for studies published between 2023 and 2026. Search terms targeted bio-based plasticizers, flame retardants, antioxidants, and compatibilizers. Studies were screened against predefined inclusion criteria, specifically focusing on experimental validation in polymer matrices, while data mining was employed to map emerging research fronts. Results: From an initial 996 records, 54 studies were selected after removing duplicates and ineligible articles. The findings highlight a paradigm shift from passive physical fillers toward active, multifunctional macromolecular agents. Recent literature demonstrates that targeted molecular interventions, such as phosphorylated lignin and biomimetic structures, can resolve trade-offs between ductility and thermal stability at low loadings (<5 wt%). Synthesis routes, performance outcomes, and end-of-life trajectories for each additive class are summarized. Conclusions: Bio-based additives have evolved from simple substitutes into strategic tools for the molecular programming of sustainable polymers. Although challenges regarding scalability and high-temperature processing persist, their integration into circular economy strategies establishes a clear roadmap for next-generation bioplastics.