Biotechnology is a multidisciplinary field, which is in reality the networking of biological sciences with engineering principles. In this context, the role and importance of Fermentation technology, a branch of Biotechnology is of great relevance. It has potential impact on virtually all domains of human welfare, ranging from food / feed processing, energy and environmental protection, to human health. In recent years, advances in fermentation technology have shown much promise in the development of several bioprocesses and products. During the last decade much interest has developed to work on solid-state fermentation systems as a production technology due to several advantages it offers. In this paper, the focus of our discussion is limited on products and processes developed mainly utilizing sugar industry by-products such as molasses, sugar beet pulp and sugarcane bagasse as raw material for fermentation. The products developed from these by-products include ethanol, biogas, animal feed, enzymes, organic acids, solvents, amino acids, vitamins and other bioactive molecules including antibiotics and alkaloids. Much attention has been given to advances in ethanol production, advantages of molasses based animal feeds, biogas as an efficient fuel, bioconversion of low value molasses by- product to plant biostimulant, potential and utilization of sugar cane bagasse to several processes and products. The efficient utilization of by-products of sugar industry could provide a significant impact on the profitability the sugar industry.