In nature, different species compete among themselves for common resources and favorable habitat. Therefore, it becomes really important to determine the key factors in maintaining the biodiversity. Also, some competing species follow cyclic competition in real world where the competitive dominance is characterized by a cyclic ordering. In this paper, we study the formation of a wide variety of spatiotemporal patterns including stationary, periodic, quasi-periodic and chaotic population distributions for a diffusive Lotka-Volterra type three-species cyclic competition model with two different types of cyclic ordering. For both types of cyclic ordering, the temporal dynamics of the corresponding non-spatial system show the extinction of two species through global bifurcations such as homoclinic and heteroclinic bifurcations. For the spatial system, we show that the existence of Turing patterns is possible for a particular cyclic ordering, while it is not the case for the other cyclic ordering through both the analytical and numerical methods. Further, we illustrate an interesting scenario of short-range invasion as opposed to the usual invasion phenomenon over the entire habitat. Also, our study reveals that both the stationary and dynamic population distributions can coexist in different parts of a habitat. Finally, we extend the spatial system by incorporating nonlocal intra-specific competition terms for all the three competing species. Our study shows that the introduction of nonlocality in intra-specific competitions stabilizes the system dynamics by transforming a dynamic population distribution to stationary. Surprisingly, this nonlocality-induced stationary pattern formation leads to the extinction of one species and hence, gives rise to the loss of biodiversity for intermediate ranges of nonlocality. However, the biodiversity can be restored for sufficiently large extent of nonlocality.