<p>The food sector is experiencing a high requirement for food packaging films due to the growing worldwide population. In today’s landscape, food packaging regulations have significantly tightened due to technological advancements, specifically to combat environmental repercussions, safeguard consumer health, and address budgetary considerations. In comparison, guar gum (GG) meets all the essential requirements, which makes GG a potential source for developing films or coatings. It was observed, for instance, that GG coatings may considerably decrease the postharvest quality loss of fruits by producing barriers that help to delay the ripening and senescence processes by lowering the respiration rate. Modified GG films have gained popularity in academia and industry due to their superior film-forming abilities. Cross-linking, etherification, esterification, grafting, oxidation, and adding additives like plasticizers can enhance the mechanical characteristics of GG-based films. While starch, cellulose, and chitosan are reviewed more often, GG, a less explored biopolymer in food packaging, is the subject of this review. This review covers an in-depth study of different chemical and physical modification methods, additives, and fabrication methods utilized for GG-based films and coatings having better physical and chemical characteristics. It also includes a summary of existing data and recent developments in modified GG film packaging. It fills the gap in the literature by focusing solely on GG and presenting commercialization trends and experimental data that many evaluations fail to provide.</p>