The development of industrially useful chemicals has for a long time depended on petroleum-based raw materials. However, with the projected diminishing stock of petroleum due to overexploitation, and the environmentally unfriendly nature of these non-renewable resources, the scientific community has massively shifted its attention to the utilization of renewable resources as raw materials for the production of industrial chemicals. This is due to the competitive advantage of agricultural by-products or wastes manifested in their non-interference with food supply. This chapter focuses on the products from cashew plants and how they are utilized in the production of useful materials. Particularly, the cashew apple is discussed in terms of its well-known use in making beverages in different parts of the world. Cashew nut shells, which are obtained after extraction of cashew nut shell liquid (CNSL), are discussed in terms of their potential use in the production of biofuels. The other highly popular resource, CNSL produced from the processing of cashew nuts, is discussed in terms of its chemical modification for the production of functional materials and pharmaceutical chemicals. In this chapter, the current state of research and development on the utilization of cashew apples and nutshell, highlighting the challenges and opportunities in their valorization, are also discussed.