Natural fiber‐reinforced polymeric composites (NFRCs) offer a sustainable solution at the intersection of environmental consciousness and materials engineering. These composites address plastic pollution and industrial material demands by utilizing natural fibers with the advantages of biodegradability, lightweight properties, economic viability, and promising mechanical characteristics. Technical challenges remain, including inconsistent fiber quality, inadequate mechanical stability, water absorption, thermal instability, and compatibility issues with hydrophobic matrices. This work examines bamboo, flax, and hemp fibers and their integration into polymer composites, analyzing various surface modification techniques and their impact on mechanical performance and fiber‐matrix interactions. Our investigation covers fundamental fiber properties, advanced surface treatments, resultant effects in polymer composites, and commercial applications across diverse industries. Environmental impact is evaluated through detailed life cycle assessments, focusing on automotive applications where NFRCs show particular promise for lightweight component manufacturing. The work concludes with a future outlook identifying emerging trends and research opportunities, providing researchers, engineers, and industry practitioners with a strategic roadmap for advancing NFRC technology as part of the broader transition toward sustainable materials engineering solutions.Highlights: NFRCs offer sustainable options with promising mechanical performance. Challenges: inconsistent fiber quality, water absorption, matrix compatibility. Analysis of bamboo, flax, hemp: surface modifications, mechanical performance. LCA highlights NFRC's role in lightweight, sustainable manufacturing. Review offers a strategic roadmap to advance natural fiber composite materials.