The apple has been recognised as the most culturally important fruit crop in temperate land areas. Centuries of human exploitation and development led to the production of thousands of apple cultivars. Nowadays, the apple represents the third most widely cultivated fruit in the world. About 30% of the total production of apples is processed, being juice and cider the main resulting products. Regarding this procedure, a large quantity of apple by-product is generated, which tends to be undervalued, and commonly remains underutilised, landfilled, or incinerated. However, apple by-product is a proven source of bioactive compounds, namely dietary fibre, fatty acids, triterpenes, or polyphenols. Therefore, the application of green technologies should be considered in order to improve the functionality of apple by-product while promoting its use as the raw material of a novel product line. The present work provides a holistic view of the apple’s historical evolution, characterises apple by-product, and reviews the application of green technologies for improving its functionality. These sustainable procedures can enable the transformation of this perishable material into a novel ingredient opening up new prospects for the apple’s potential use and consumption.