Spent grain is the solid fraction remaining after wort removal. It is nutritionally rich, composed of fibers—mainly hemicellulose, cellulose, and lignin—proteins, lipids, vitamins, and minerals, and must be managed properly. Spent grain is a by-product with high moisture, high protein and high fiber content and is susceptible to microbial contamination; thus, a suitable, cost-effective, and environmentally friendly valorization method of processing it is required. This by-product is used as a raw material in the production of many other food products—bakery products, pasta, cookies, muffins, wafers, snacks, yogurt or plant-based yogurt alternatives, Frankfurter sausages or fruit beverages—due to its nutritional values. The circular economy is built on waste reduction and the reuse of by-products, which find opportunities in the regeneration and recycling of waste materials and energy that become inputs in other processes and food products. Waste disposal in the food industry has become a major issue in recent years when attempting to maintain hygiene standards and avoid soil, air and water contamination. Fortifying food products with spent grain follows the precepts of the circular bio-economy and industrial symbiosis of strengthening sustainable development. The purpose of this review is to update information on the addition of spent grain to various foods and the influence of spent grain on these foods.