The generation of food waste (FW) is increasing at an alarming rate, contributing to a total of 32% of all the waste produced globally. Anaerobic digestion (AD) is an effective method for dealing with organic wastes of various compositions, like FW. Waste valorization into value-added products has increased due to the conversion of FW into biogas using AD technology. A variety of pathways are adopted by microbes to avoid unfavorable conditions in AD, including competition between sulfate-reducing bacteria and methane (CH4)-forming bacteria. Anaerobic bacteria decompose organic matter to produce biogas, a digester gas. The composition depends on the type of raw material and the method by which the digestion process is conducted. Studies have shown that the biogas produced by AD contains 65-75% CH4 and 35-45% carbon dioxide (CO2). Methanothrix soehngenii and Methanosaeta concilii are examples of species that convert acetate to CH4 and CO2. Methanobacterium bryantii, Methanobacterium thermoautotrophicum, and Methanobrevibacter arboriphilus are examples of species that produce CH4 from hydrogen and CO2. Methanobacterium formicicum, Methanobrevibacter smithii, and Methanococcus voltae are examples of species that consume formate, hydrogen, and CO2 and produce CH4. The popularity of AD has increased for the development of biorefinery because it is seen as a more environmentally acceptable alternative in comparison to physico-chemical techniques for resource and energy recovery. The review examines the possibility of using accessible FW to produce important value-added products such as organic acids (acetate/butyrate), biopolymers, and other essential value-added products.