Biopolymers are a leading class of functional material suitable for high-value applications and are of great interest to researchers and professionals across various disciplines. Interdisciplinary research is important to understand the basic and applied aspects of biopolymers to address several complex problems associated with good health and well-being. To reduce the environmental impact and dependence on fossil fuels, a lot of effort has gone into replacing synthetic polymers with biodegradable materials, especially those derived from natural resources. In this regard, many types of natural or biopolymers have been developed to meet the needs of ever-expanding applications. These biopolymers are currently used in food applications and are expanding their use in the pharmaceutical and medical industries due to their unique properties. This review focuses on the various uses of biopolymers in the food and medical industry and provides a future outlook for the biopolymer industry.