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Amongst the natural polymers, chitin is the second most abundant, present mainly in fungi and exoskeleton of crustaceans. It forms a major part of the seafood waste as compiled and presented in this review and is de-acetylated to produce chitosan. Structure and properties of chitosan have been described. Biocompatible and biodegradable characteristics of chitosan have been well studied. In addition to the environmental sustainability associated with its use, the malleability of chitosan due to its reactive amino and hydroxyl groups, adds to its wide repertoire in usage through various modifications. Recent publications of chitosan and derivatives have been classified into its various applications in food, pharmaceutical, biotechnology, medical, textile, paper, agriculture and environmental applications. The abundance of chitosan and diversity in modifications can be effectively utilized in various applications leading …