Plastic materials, since their discovery, have become one of the indispensable parts of our lives due to their durability, adaptability, and low cost. However, the increasing population and unsustainable attitude towards overconsumption of non-biodegradable single or short-term use petroleum-based plastics led to major environmental and public health issues. One alternative to remediate these concerns is the use of biodegradable and biocompatible biopolymers. Polyhydroxyalkanoates are microbial polyesters that are synthesized by certain bacteria and archaea when an excess source of carbon is present in an otherwise nutrient-poor medium. Although these biopolymers have the capacity to replace traditional petroleum-based plastics, their relatively higher manufacturing cost prevents them from gaining a higher market share in the plastics industry. Production of these polymers from renewable materials or more importantly discarded agro-industrial waste and wastewaters and developing more optimized methods for extraction and purification will significantly improve their likelihood to replace traditional plastics.