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A variable proportion of slaughtered livestock, generally referred to as the fifth quarter, is not part of the edible dressed meat and regarded as animal byproduct. In order for the fifth quarter to play a significant role in the current effort toward a circular bio-based economy, it has to successfully support food security, social inclusivity, environmental sustainability, and a viable economy. The high volume of these low-value streams and their nutrient-dense nature can facilitate their position as a very important candidate to explore within the context of a circular bio-based economy to achieve some of the United Nations Sustainable Development Goals (UN-SDGs). While these sources have been traditionally used for various applications across different cultures and industries, it seems evident that their full potential has not yet been exploited, leaving these products more like an environmental burden rather than valuable resources. With innovation and well-targeted interdisciplinary collaborations, the potential of the fifth quarter can be fully realized. The present review intends to explore these low-value streams, their current utilization, and their potential to tackle the global challenges of increasing protein demands while preventing environmental degradation. Factors that limit widespread applications of the fifth quarter across industries and cultures will also be discussed., (© 2022 Institute of Food Technologists®.)