The biodiesel obtained from nonedible and waste-cooking oils through the transesterification process has been recognized as a renewable energy source. This transesterification process produces glycerol as the main byproduct. Glycerol and its derivatives have a lot of applications in the pharmaceutical industry, organic synthesis, and the cosmetic industry. The glycerol can be converted into value-added derivatives via several catalyzed chemical reactions, viz. esterification, selective reduction, selective oxidation, pyrolysis, halogenation, condensation, carboxylation, dehydration, reformation, transesterification, etherification, etc. Among various glycerol derivatives, glycerol carbonate is one of the most value-added products which is employed in industrial application for the preparation of polyurethanes. There are several methods for its preparation using glycerol as a platform molecule, but the transesterification method using dimethyl carbonate is the most efficient way employing mild reaction conditions and the least harmful reagents. This review presents a critical assessment of the available published information on large scale production of glycerol carbonate using various homogeneous and heterogeneous catalysts reported in the last five years. Effects of relevant reaction parameters affecting the transesterification route have been discussed with some suggestions for future work in this area.