The production of food waste covers all the food life cycle: from agriculture, up to industrial manufacturing and processing, retail and household consumption. In developed countries, 42% of food waste is produced by households, while 39% losses occur in the food manufacturing industry, 14% in food service sector and remaining 5% in retail and distribution. Increasingly, industrial ecology concepts such as cradle to cradle and circular economy are considered leading principle for eco-innovation, aiming at "zero waste economy" in which waste are used as raw material for new products and applications. The large amount of waste produced by the food industry, in addition to being a great loss of valuable materials, also raises serious management problems, both from the economic and environmental point of view. Many of these residues, however, have the potential to be reused into other production systems, trough e.g. biorefineries. The present work focuses on the use of food waste coming from food manufacturing (FWm). Through extensive literature review, the authors present feasibility and constraints of applying industrial symbiosis in recovering waste from food processing, focusing on recycling (excluding energy recovery) of the solid and liquid waste from food processing industry. The main uses of functional ingredients derived from this transformation are presented and discussed, highlighting mainstream sectors of application, e.g. in the nutraceutical and pharmaceutical industry.