Cashew farming-considered as one of the major profit-making agricultural businesses-requires renewed practices in processing its products and by-products for sustained growth. The current review highlights the commercial potential of cashew apples by proposing value-addition strategies through microbial fermentation routes that can help garnering additional profit to the growers. The immense potential of cashew apples and pulp wastes generated after juice-extraction in producing a range of products through the fermentation process such as bioethanol, hydrolytic enzymes, lactic acid, biosurfactants, wine and Feni (an alcoholic beverage) is discussed. Furthermore, a case on the existing Feni-making practices in Goa, India is reviewed, and the need for upgrades in the processing methods for waste mitigation is emphasized. Based on the literature survey and from the gathered knowledge on cashew industries through visits to various cashew farming sites, it is strongly emphasized that a radical improvement in cashew farming is possible only through the adoption of holistic approaches in the cultivation and proper utilization of wastes and its management of cashew apples. Also, Feni production, which is the mainstay of India’s current cashew processing industry, requires major up-gradation in processing methods to improve its quality, marketability, and export potential.