Cellular agriculture, an alternative to animal-based proteins, is an emerging field of biotechnology that aims at developing sustainable products. Harvesting of animal products from cell cultures rather than animals is a promising technology that draws together different disciplines ranging from industrial biotechnology, synthetic biology, materials science, and tissue engineering to social sciences, history, philosophy, and design. Tissue engineering and fermentation are the two major approaches to cellular agriculture.  This review extensively discusses some prominent applications of cellular agriculture, namely in the meat, fish, leather, silk, and cosmetic industries. It incorporates the procedures, drawbacks, challenges, and the current market progress of these environment-friendly alternatives. Further research in technological advancements, bioreactor designs, cell scaffolding, bioprinting, and other modern methods will pave a path to large-scale production. Cellular agriculture is the future of diverse industries. With growing research, it will overcome various challenges and limitations of conventional animal farming. The products formed are advantageous and will be valued for their environmental, ethical, health, and safety benefits over the animal-derived versions.