Agricultural lignocellulose wastes are an excellent substrate for the production of value-added products (such as pectin). Natural macromolecules have gained popularity due to their biocompatibility, low toxicity, and biodegradability. Pectin is the most intricate polysaccharide found in the cell walls of plants, both in terms of structure and function. Pectin plays a crucial role in various aspects of plant biological processes, including growth, morphology, development, and defense. Additionally, it functions as a gelling and stabilizing agent in a wide range of food and speciality products. Moreover, pectin contributes to the texture and rheological properties of various food systems. Additionally, it exerts positive effects on human health and possesses a multitude of biomedical applications. Furthermore, as a biopolymer, pectin has garnered attention for its potential applications in active packaging systems. Pectin can be utilized alongside with an extensive variety of biopolymers with distinct characteristics and functionalities. In this context, this review presents an in-depth investigation of pectin, including its structure, sources, properties, and wide-ranging applications in the fields of biomedicine and food industry.