There are four main waste products produced during the harvesting and milling process of sugarcane: cane trash, molasses, bagasse and mill mud–boiler ash mixture. This study investigates the value proposition of different techniques currently not being adopted by the industry in the utilisation of these wastes. The study addresses the technical challenges and the environmental impact associated with these wastes and comes up with some recommendations based on the recent findings in the literature. All the biomass wastes such as bagasse, trash (tops) and trash (leaves) have shown great potential in generating higher revenue by converting them to renewable energy than burning them (wet or dry). However, the energy content in the products from all the utilisation methods is less than the energy content of the raw product. This study has found that the most profitable and challenging choice is producing ethanol or ethanol/biogas from these wastes. The authors recommend conducting more research in this field in order to help the sugar industry to compete in the international market.