The yeast cell wall is a complex structure whose main function is to protect the cell from physical and chemical damage, providing it with rigidity. It is composed of a matrix of covalently linked polysaccharides and proteins, including β‐glucans, mannoproteins, and chitin, whose proportion can vary according to the yeast species and environmental conditions. The main components of the yeast cell wall have relevant properties that expand the possibilities of use in different industrial sectors, such as pharmaceutical, food, medical, veterinary, and cosmetic. Some applications include bioremediation, enzyme immobilization, animal feed, wine production, and hydrogel production. In the literature it is the description of the cell wall composition of model species like Saccharomyces cerevisiae and Candida albicans, however, it is important to know that this composition can vary according to the species or the culture medium conditions. Thus, understanding the structural composition of different species holds promise as an alternative to expanding the utilization of residual yeast from different bioprocesses. In the context of a circular economy, the conversion of residual yeast into valuable products is an attractive prospect for researchers aiming to develop sustainable technologies. This review provides an overview of yeast cell wall composition and its significance in biotechnological applications, considering prospects to increase the diversification of these compounds in industry.