Polymers are extensively used in food and beverage packaging to shield against contaminants and external damage due to their barrier properties, protecting the goods inside and reducing waste. However, current trends in polymers for food, water, and beverage applications are moving forward into the design and preparation of advanced polymers, which can act as active packaging, bearing active ingredients in their formulation, or controlling the head-space composition to extend the shelf-life of the goods inside. In addition, polymers can serve as sensory polymers to detect and indicate the presence of target species, including contaminants of food quality indicators, or even to remove or separate target species for later quantification. Polymers are nowadays essential materials for both food safety and the extension of food shelf-life, which are key goals of the food industry, and the irruption of smart materials is opening new opportunities for going even further in these goals. This review describes the state of the art following the last 10 years of research within the field of food and beverage polymer’s applications, covering present applications, perspectives, and concerns related to waste generation and the circular economy.