Agri-food wastes and by-products are rich source of bioactive compounds, proteins and other nutrients as well. They are reported to have several health benefits which add on to their nutritional value. Effective valorization of this waste or biomass might help prevent environmental pollution and also provide a route towards better food production and distribution among people. Their extraction and utilization for various purposes can be done with the use of sustainable methods and effective technology. Innovative and advanced ways of utilizing them can help gain financial benefits as well in the long run. Several ways are being sort to also convert these food waste such as lignocellulose biomass into a more functional form such as sugars, proteins etc. They are also rich in bioactive compounds in the form of lignin. So there is immense potential in enhancing the use of agri-food biomass for the production of useful products.