The major waste and by-products produced from sugar industries and distilleries are molasses, press mud, bagasse, sugarcane trash, and incinerated spent wash ash. The information of their application is fragmentary from the various countries. Therefore, the present review is comprehensive information regarding the latest methods for safe management practices with valorization. The generated ash after incineration of distillery spent wash have been reported as a source of fertilizer in agriculture due to the high percentage of potash but its environmental impact is not known. The generated ash from the distillery is also used for the removal of dye, metal, and other contaminants from various industrial wastewaters as adsorbent but the safe disposal technique of generated solid waste with adsorbed material of wastewater treatment is also unknown. The bagasse and spent wash ash is also reported for construction materials. Furthermore, the various waste products from sugar and distilleries have been used as solid-state fermentation, and through bioconversion it is converted into various valuable products i.e. single cell protein, soil conditioner, compost, mushroom cultivation bed, enzyme production, organic acid, and biogas generation. The press mud from the sugar industry is widely used for animal feed production and plant growth substances manufacturing. The above method of waste management practices is an innovative process for the sustainable development of industry and the ecosystem.