It is well-known that huge amounts of bio-based materials are generated in the food industry, leading to an increase in concern for the environment and economy. However, the benefits gained from bio-based materials that are classified as proteins, carbohydrates, lipids, and bioactive compounds should be critically considered. The chapter presents an overview of bio-based materials from the food industry, conventional, novel, and combined novel processing methods, and applications in various food products. Furthermore, in order to successfully utilize bio-based materials in the food industry, strategies toward industrial ecology are also discussed. Finally, several examples of successful utilization of bio-based materials and recommendations for further studies of the utilization and applications throughout the chapter are also reported.