Sugarcane is among the principal agricultural crops cultivated in tropical countries. The annual world production of sugarcane is ∼1.6 billion tons, and it generates ∼279 million metric tons (MMT) of biomass residues (bagasse and leaves). Sugarcane residues, particularly sugarcane bagasse (SB) and leaves (SL) have been explored for both biotechnological and non-biotechnological applications. For the last three decades, SB and SL have been explored for use in lignocellulosic bioconversion, which offers opportunities for the economic utilization of residual substrates in the production of bioethanol and value-added commercial products such as xylitol, specialty enzymes, organic acids, single-cell protein, etc. However, there are still major technological and economic challenges to be addressed in the development of bio-based commercial processes utilizing SB and SL as raw substrates. This article aims to explore SB and SL as cheaper sources of carbohydrates in the developing world for their industrial implications, their use in commercial products including commercial evaluation, and their potential to advance sustainable bio-based fuel systems.