The sugar kelp Saccharina latissima has received intense scientific attention over the last decades. In recent years, interest in cultivation of the species has strongly increased in the North Atlantic Ocean and the Eastern Pacific Ocean, driven by the great potential of S. latissima to be utilised for various industrial applications, including food, feed, and biomaterials. Accordingly, current research has focused on improving farming methods and technology, environmental impacts, and site selection. In addition, many studies have investigated the varying chemical composition of S. latissima, extraction of commercially interesting components, and the use of the biomass and its derived components in various applications. This review provides a comprehensive overview of farming and applications of S. latissima from the last 15 years. Additional insights on other research topics, such as ecology, physiology, biochemical and molecular biology of S. latissima, are given in the first review, “The sugar kelp Saccharina latissima I: recent advances in a changing climate” (Diehl et al. 2023).