There is world-wide generation of food waste daily in significant amounts, leading to depletion of natural resources and deteriorating air quality. One-third of global food produced is wasted laterally with the food value chain. Carbon footprint is an efficient way of communicating the issues related to climate change and the necessity of changing behavior. Valorization or utilization of food wastes helps in resolving issues related to environment pollution. Reduction in the carbon footprint throughout the chain of food supply makes the whole process eco-friendly. Prevailing food waste disposal systems focus on their economic and environmental viability and are putting efforts into using food waste as a resource input to agriculture. Effective and advanced waste management systems are adopted to deal with massive waste production so as to fill the gap between the production and management of waste disposal. Food waste biorefineries are a sustainable, eco-friendly, and cost-effective approach for the production of platform chemicals, biofuels, and other bio-based materials. These materials not only provide sustainable resources for producing various chemicals and materials but have the potential to reduce this huge environmental burden significantly. In this regard, technological advancement has occurred in past few years that has proven suitable for tackling this problem.