Citrus is the largest grown fruit crop on the globe with an annual production of ~110–124 million tons. Approximately, 45–55% of the whole fruit post-processing is generally discarded as waste by the food processing industries. The waste is a huge problem to the environment in terms of land and water pollution along with displeasure from aesthetic viewpoint and spread of diseases owing to its huge content of fermentable sugars. The waste can be utilized as a raw material feedstock for producing a number of valuable chemicals and products, such as bioethanol, biogas, bio-oil, organic acids, enzymes, and so on. The production of these chemicals from waste biomass gives an inexpensive alternative to the harsh chemicals used during industrial synthesis processes as well as the possibility of controlling pollution from the waste discarded to the environment. The derived chemicals can be further utilized in the production of industrially important chemicals, as solvents and building blocks of newer chemicals. Furthermore, organic acids, pectin, enzymes, prebiotics, etc., derived from citrus wastes have an edge over their synthetic counterparts in practical applications in the food processing and pharmaceutical industries.