The 20th century has witnessed a remarkable enhancement in the demand for varieties of consumer products, ranging from food, pharmaceutical, cosmetics, to other industries. To enhance the quality of the product and to reduce the production cost, industries are gradually inclined towards greener processing technologies. Cavitation-based technologies are gaining interest among processing technologies due to their cost effectiveness in operation, minimization of toxic solvent usage, and ability to obtain superior processed products compared to conventional methods. Also, following the recent advancements, cavitation technology with large-scale processing applicability is only denoted to the hydrodynamic cavitation (HC)-based method. This review includes a general overview of hydrodynamic cavitation-based processing technologies and a detailed discussion regarding the process effectiveness. HC has demonstrated its usefulness in food processing, extraction of valuable products, biofuel synthesis, emulsification, and waste remediation, including broad-spectrum contaminants such as pharmaceuticals, bacteria, dyes, and organic pollutants of concern. Following the requirement of a specific process, HC has been implemented either alone or in combination with other process-intensifying steps, for example, catalyst, surfactant, ultraviolet (UV), hydrogen peroxide (H2O2), and ozone (O3), for better performance. The reactor set-up of HC includes orifice, slit venturi, rotor-stator, and sonolator type constrictions that initiate and control the formation of bubbles. Moreover, the future directions have also been pointed out with careful consideration of specific drawbacks.