Cashew apples are produced in greater quantities worldwide; nonetheless, a vast majority are discarded. However, existing literature have established several potentials of cashew apple, especially in improving food and nutrition security, advancing industry, and promoting socio-economic development. In this evolving era of circular food economy for food system sustainability, these potentials could be rightly harnessed in addressing existing irregularities in the food value chain. However, appropriate utilization of any food material is incumbent on prior knowledge of their characteristics. To promote valorization of cashew apple in food and nutritional applications, the authors present a comprehensive review and global database of the nutritional, bioactive, and techno-functional characteristics of cashew apples and derived products, together with associated health benefits. The paper also emphasized some food circularity pathways for cashew apple, including advances in their exploration, and their major processing steps. Insights from this review portray cashew apple as a substantial nutritional resort and a much reliable and affordable substrate for industrial explorations, especially in producing beverages, flour, animal feed, and functional extracts. For non-food applications, cashew apple has been successfully explored as an agro-industrial byproduct for renewable energy generation, especially ethanol production, and could progress into a commercially viable energy generation substrate. In growing regions where the apple is rampantly underutilized, maximizing exploration of its food circularity potentials could essentially bridge local food and nutritional disparities and significantly minimize waste burden, consequent to a reduction in environmental impacts from the cashew industry. Furthermore, this would promote the food industry in growing regions and provide an avenue to buffer their economic system through job creation and enhanced food accessibility, thereby ameliorating the socio-economic conditions in such areas.