The biosynthesis of citric acid (CA) and its derivatives is of great interest due to its wide range of applications in various manufacturing sectors. The fungus Aspergillus niger is mainly used for the commercial production of CA, using sucrose and molasses as the primary carbon sources. Since the 1960s, intensive research has been underway to introduce Yarrowia lipolytica yeast as an alternative to traditional fungal technology. This review discusses the practical uses of CA and its derivatives. Also, the challenges and developments that have led to efficient and green CA synthesis technologies using Y. lipolytica are outlined. The nutrient medium requirements and the use of various carbon sources, encompassing pure substrates and industry, agriculture, and food waste are considered. Additionally, the choice and improvement of strain producers, including efficient mutagenesis, genetic modification, and screening methods, are discussed.