This review provides a comprehensive overview of the valorization of shrimp waste, particularly shrimp shells, focusing on extraction methods, bioactivities, and potential applications of the bioactive compounds within. The shrimp processing industry generates substantial waste, which is rich in valuable components such as polysaccharides, proteins, carotenoids, and fatty acids. Various extraction techniques, including chemical, microbial fermentation, enzyme-assisted, microwave-assisted, ultrasound-assisted, and pressurized techniques, are discussed for their efficacy in isolating these compounds. The bioactivities associated with these compounds, such as antioxidant, antimicrobial, anti-inflammatory, and antitumor properties, are highlighted, underscoring their potential in pharmaceutical, nutraceutical, and cosmeceutical applications. The review also explores current and potential utilization avenues for these bioactive compounds, emphasizing the importance of sustainable resource management and circular economy principles. Overall, the paper aims to provide insights into the multifaceted aspects of shrimp waste valorization, offering valuable information for researchers, industries, and policymakers interested in sustainable resource utilization and waste-management strategies.This review provides a comprehensive overview of the valorization of shrimp waste, particularly shrimp shells, focusing on extraction methods, bioactivities, and potential applications of the bioactive compounds within. The shrimp processing industry generates substantial waste, which is rich in valuable components such as polysaccharides, proteins, carotenoids, and fatty acids. Various extraction techniques, including chemical, microbial fermentation, enzyme-assisted, microwave-assisted, ultrasound-assisted, and pressurized techniques, are discussed for their efficacy in isolating these compounds. The bioactivities associated with these compounds, such as antioxidant, antimicrobial, anti-inflammatory, and antitumor properties, are highlighted, underscoring their potential in pharmaceutical, nutraceutical, and cosmeceutical applications. The review also explores current and potential utilization avenues for these bioactive compounds, emphasizing the importance of sustainable resource management and circular economy principles. Overall, the paper aims to provide insights into the multifaceted aspects of shrimp waste valorization, offering valuable information for researchers, industries, and policymakers interested in sustainable resource utilization and waste-management strategies.