Innovating methods for treating industrial wastewater containing heavy metals frequently incorporate toxicity-reduction technologies to keep up with regulatory requirements. This article reviews the latest advances, benefits, opportunities and drawbacks of several heavy metal removal treatment systems for industrial wastewater in detail. The conventional physicochemical techniques used in heavy metal removal processes with their advantages and limitations are evaluated. A particular focus is given to innovative gas hydrate-based separation of heavy metals from industrial effluent with their comparison, advantages and limitations in the direction of commercialization as well as prospective remedies. Clathrate hydrate-based removal is a potential technology for the treatment of metal-contaminated wastewater. In this work, a complete assessment of the literature is addressed based on removal efficiency, enrichment factor and water recovery, utilizing the gas hydrate approach. It is shown that gas hydrate-based treatment technology may be the way of the future for water management purposes, as the industrial treated water may be utilized for process industries, watering, irrigation and be safe to drink.