In recent decades, worldwide economic and environmental issues have prompted research scientists to re-direct their interests to bio-based resources, which are sustainable in nature. In this context, microbial polysaccharides, such as bacterial cellulose (BC), also known as microbial cellulose (MC), are some of the upcoming and emergent resources and have potential application in various bio- and non-bio-based sectors of the modern world. Many researchers have already established novel BC/MC production methods, and many new studies have been published on lab-scale and large-scale production aspects of BC/MC to date. To further expand the novel use of this sustainable source, significant progress toward the development of BC/MC has appeared in recent years. Specifically, there have been many publications and/or research reports on the valorization of BC/MC in the food, paper, materials, biomedical, pharmaceutical, and cosmeceutical industries, among others. This review will address the novel application aspects of BC/MC today, with the aim of demonstrating the importance of this sustainable and novel source in the development of value-added products.