Lactobacillus spp. belongs to a class of bacteria known as lactic acid bacteria. This classification is because they are known to produce lactic acid as a major by-product of their metabolic activities. Most Lactobacillus spp. are generally regarded as safe (GRAS) bacteria. They also produce a bio-polymeric substance known as exopolysaccharide (EPS). The EPS are popular because of their wide potential medical and industrial applications. The wide application of the EPS in medicine and industry necessitates optimal production and recovery of these polymeric substances produced by Lactobacillus spp. In this book chapter, we aim to comprehensively discuss Lactobacillus EPS, its inherent properties, potential pharmaceutical and industrial applications. We also point to its contribution towards the achievement of the 3rd and 9th components of the United Nations Sustainable Development Goals which are to establish good health and wellbeing and to promote industrialization, innovation, and infrastructure respectively.