Quinoa (Chenopodium quinoa Willd.) is native to the Andean region and has attracted a global growing interest due its unique nutritional value. The protein content of quinoa grains is higher than other cereals while it has better distribution of essential amino acids. It can be used as an alternative to milk proteins. Additionally, quinoa contains a high amount of essential fatty acids, minerals, vitamins, dietary fibers, and carbohydrates with beneficial hypoglycemic effects while being gluten-free. Furthermore, the quinoa plant is resistant to cold, salt, and drought, which leaves no doubt as to why it has been called the “golden grain”. On that account, production of quinoa and its products followed an increasing trend that gained attraction in 2013, as it was proclaimed to be the international year of quinoa. In this respect, this review provides an overview of the published results regarding the nutritional and biological properties of quinoa that have been cultivated in different parts of the world during the last two decades. This review sheds light on how traditional quinoa processing and products evolved and are being adopted into novel food processing and modern food products, as well as noting the potential of side stream processing of quinoa by-products in various industrial sectors. Furthermore, this review moves beyond the technological aspects of quinoa production by addressing the socio-economic and environmental challenges of its production, consumption, and marketizations to reflect a holistic view of promoting the production and consumption of quinoa.