As global environmental concerns such as climate change, resource depletion, and plastic pollution intensify, the need for sustainable product development in the polymer industry has become increasingly urgent. This article explores the multidimensional strategies required to align polymer products with environmental, economic, and social sustainability goals. Beginning with a conceptual foundation in sustainable product development, the article examines critical design approaches—including eco-design, cradle-to-cradle thinking, and Design for the Environment (DfE)—that prioritize material efficiency, recyclability, and product longevity. Special attention is given to the selection of sustainable polymers, including biodegradable, bio-based, and recycled materials, highlighting their life cycle performance, environmental advantages, and functional trade-offs. The role of innovative manufacturing techniques, such as additive manufacturing and lightweight design, is also discussed in the context of minimizing material and energy use. Furthermore, the article delves into Life Cycle Assessment (LCA) as a data-driven tool for evaluating environmental impacts across a product’s entire life span, enabling informed decision-making and continuous improvement. By synthesizing design strategies, material innovations, and analytical frameworks, this review provides a roadmap to create polymer products that are not only high-performing and economically viable but also environmentally responsible. The insights presented herein aim to guide the polymer industry toward a more regenerative and resilient future.