This review provides a perspective on the industrial application potential of sugar beet pulp (SBP) derived monosaccharides. The broad application of these monosaccharides could contribute to bio‐based alternatives and sustainable practices, essential for the transition towards a more circular economy. This review focuses on the utilization and application of two SBP monosaccharides, d‐galacturonic acid (d‐GalA) and l‐arabinose (l‐Ara), derived from pectin and hemicellulose. These polysaccharides are major components of sugar beet pulp, an important side stream of sucrose production. d‐GalA and l‐Ara are therefore abundant in biomass and offer unique molecular structures amenable to selective chemical or enzymatic modifications. We review their application in various industrial applications such as the development and production of bioactive compounds, home and personal care products, and other industries.