Food waste, a by-product of various industrial, agricultural, household and other food sector activities, is rising continuously due to increase in such activities. Various studies have indicated that different kind of food wastes obtained from fruits, vegetables, cereal and other food processing industries can be used as potential source of bioactive compounds and nutraceuticals which has significant application in treating various ailments. Different secondary metabolites, minerals and vitamins have been extracted from food waste, using various extraction approaches. In the next few years these approaches could provide an innovative approach to increase the production of specific compounds for use as nutraceuticals or as ingredients in the design of functional foods. In this review a comprehensive study of various techniques for extraction of bioactive components citing successful research work have been discussed. Further, their efficient utilization in development of nutraceutical products, health benefits, bioprocess development and value addition of food waste resources has also been discussed.

Mushrooms are well-known functional foods due to the presence of a huge quantity of nutraceutical components. These are well recognized for their nutritional importance such as high protein, low fat, and low energy contents. These are rich in minerals such as iron, phosphorus, as well as in vitamins like riboflavin, thiamine, ergosterol, niacin, and ascorbic acid. They also contain bioactive constituents like secondary metabolites (terpenoids, acids, alkaloids, sesquiterpenes, polyphenolic compounds, lactones, sterols, nucleotide analogues, vitamins, and metal chelating agents) and polysaccharides chiefly β-glucans and glycoproteins. Due to the occurrence of biologically active substances, mushrooms can serve as hepatoprotective, immune-potentiating, anti-cancer, anti-viral, and hypocholesterolemic agents. They have great potential to prevent cardiovascular diseases due to their low fat and high fiber contents, as well as being foremost sources of natural antioxidants useful in reducing oxidative damages. However, mushrooms remained underutilized, despite their wide nutritional and bioactive potential. Novel green techniques are being explored for the extraction of bioactive components from edible mushrooms. The current review is intended to deliberate the nutraceutical potential of mushrooms, therapeutic properties, bioactive compounds, health benefits, and processing aspects of edible mushrooms for maintenance, and promotion of a healthy lifestyle.