Plant biomass is the most abundant natural resources on earth. However, current strategies for the utilization of agricultural biomass is far from efficient, thus environmental issues related to incompetent management of biomass prevail. Innovative handling of surplus biomass can yield several rewards, which includes renewability and sustainability of the commodity as feedstock for industrial and energy purposes. In fact, an array of different parts of a plant or agro-industrial biomass, for instance, shell, husks, wood, and leaves were successfully converted into advanced carbon materials, for use as absorbent, catalyst enzyme support, electrode, etc. In this review, an extensive literature survey related to areas of renewable sources of biopolymer in both the agricultural and industrial sectors were performed. Information on their industrial value and uses, the fundamentals of their extraction alongside the benefits and major drawbacks of their utilization, are also highlighted. We aim to show that the smart utilization of unwanted agro-industrial biomass encompasses a portion of a bigger scheme that intelligently uses biomass to complement current agricultural advancements that create smart crops and growing them using cleverly designed technology. The best part of this “Waste to Wealth” concept is that every part of the crop is fully utilized. However, a set of clear criteria must be in place to ensure a sustained momentum, so that the green approach of responsible biomass utilization will be fully embraced by nations worldwide.