The conversion of processed discarded material into valuable by‐products and alternative specialty materials has been identified as a timely challenge for food research and development associated with numerous applications of chitinous products. Chitin, chitosan, calcareous chitin, and chitosan, N‐acetylated chitosan, N‐methylene phosphonic chitosan (NMPC), and N‐lauryl‐N‐methylene phosphonic chitosan (LMPC) are being studied as a result of their broad range of food applications. These biopolymers offer a wide range of unique applications including formation of biodegradable films, immobilization of enzymes, preservation of foods from microbial deterioration, as additives (clarification and deacidification of fruits and beverages, emulsifier agents, thickening and stabilizing agents, color stabilization), and dietary supplements. This review summarizes some of the most important developments in this field.