Cultivated plantain (Musa spp.) is valuable for nutritional and socioeconomic security for millions of people in Africa and the America. The plantain agroindustry generates a large amount of waste such as pseudostems, leaves, inflorescences, peels, and rejected fruits. The current review discusses the different wastes obtained in the plantain agroindustry and their potential value for recovery of macromolecules and bioactive compounds. In general, cellulose and starches can be isolated from plantain peels and rejected fruits, respectively. Starch isolated from plantain has been used as a food ingredient and as a macromolecule to manufacture films with potential packaging applications, whereas cellulose has been used in the fermentation process to obtain biofuels. Furthermore, bioactive compounds such as anthocyanins, flavonoids, anthraquinones, and phlorotannins can be recovered from pseudostems, leaves, and inflorescences. These chemical compounds have antimicrobial, antioxidant, and color‐indicator properties that have potential food applications. Therefore, plantain wastes are a potential source of macromolecules and bioactive compounds that have potential use in packaging applications. The valorization of plantain wastes is a promissory alternative for the sustainable development of the food industry.