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Starch is one of the most common biodegradable polymers found in nature, and it is widely utilized in the food and beverage, bioplastic industry, paper industry, textile, and biofuel industries. Starch has received significant attention due to its environmental benignity, easy fabrication, relative abundance, non-toxicity, and biodegradability. However, native starch cannot be directly used due to its poor thermo-mechanical properties and higher water absorptivity. Therefore, native starch needs to be modified before its use. Major starch modification techniques include genetic, enzymatic, physical, and chemical. Among those, chemical modification techniques are widely employed in industries. This review presents comprehensive coverage of chemical starch modification techniques and genetic, enzymatic, and physical methods developed over the past few years. In addition, the current applications of chemically modified starch in the fields of packaging, adhesives, pharmaceuticals, agriculture, superabsorbent and wastewater treatment have also been discussed.