Spent coffee grounds (SCG) are a current subject in many works since coffee is the second most consumed beverage worldwide; however, coffee generates a high amount of waste (SCG) and can cause environmental problems if not discarded properly. Therefore, several studies on SCG valorization have been published, highlighting its waste as a valuable resource for different applications, such as biofuel, energy, biopolymer precursors, and composite production. This review provides an overview of the works using SCG as biopolymer precursors and for polymer composite production. SCG are rich in carbohydrates, lipids, proteins, and minerals. In particular, carbohydrates (polysaccharides) can be extracted and fermented to synthesize lactic acid, succinic acid, or polyhydroxyalkanoate (PHA). On the other hand, it is possible to extract the coffee oil and to synthesize PHA from lipids. Moreover, SCG have been successfully used as a filler for composite production using different polymer matrices. The results show the reasonable mechanical, thermal, and rheological properties of SCG to support their applications, from food packaging to the automotive industry.