Processes for production of phloroglucinol or derivative thereof. An aspect of the present disclosure relates to an enzymatic process for production of phloroglucinol or derivative thereof from polyphenol. The present disclosure also relates to a process for production of phenolic derivatives. Accordingly, another aspect of the present disclosure relates to an enzymatic process for production of phenolic derivatives from polyphenol. The processes of the present disclosure affords facile and environment friendly production of phloroglucinol or derivative(s) thereof and/or phenolic derivative(s).