Growing concerns over plastic pollution have accelerated research into sustainable food packaging alternatives based on renewable resources. This review critically examines recent advances in the valorization of agricultural and industrial fruit waste and by-products, such as peels, seeds, kernels, and pomace, for the development of multifunctional bio-based food packaging and coating materials. The study provides a structured and application-oriented overview of how fruit-derived biopolymers and bioactive compounds are extracted, processed, and functionally integrated into packaging systems. Conventional and emerging processing techniques, including solvent casting, hot pressing, extrusion, electrospinning, and nanotechnology-assisted approaches, are systematically discussed in relation to their suitability for fruit waste–derived materials. Commonly used experimental characterization methods, including mechanical, barrier, thermal, spectroscopic, and antimicrobial/antioxidant analyses, are evaluated to elucidate structure–property–function relationships. Unlike previous reviews, this work systematically links processing routes and experimental characterization with real food application performance of fruit waste–derived packaging materials. Particular emphasis is placed on active packaging systems incorporating phenolic extracts, essential oils, and nanostructured additives, as well as intelligent packaging based on natural pigments used as freshness and spoilage indicators. The performance of these materials is further assessed through documented food application studies involving fresh produce, meat, dairy, bakery products, and beverages, with a focus on experimentally demonstrated shelf-life extension and quality preservation. Regulatory and safety considerations, scalability constraints, and consumer acceptance are discussed to highlight practical limitations. Overall, the reviewed studies show that fruit waste–derived materials can be successfully converted into multifunctional bio-based packaging with demonstrated antimicrobial, antioxidant, and shelf-life-extending effects in real food systems, although further improvements in material performance, scalable processing, and regulatory alignment are required for widespread adoption. Graphical Abstract