Fermentation processes such as solid-state fermentation and submerged fermentation are helpful for the production of PHA (polyhydroxyalkanoates) polymer at a large scale. These polymers have been extensively used in biotechnological applications, from medical implants to nanodrugs, agriculture mulch film, to heart valves. PHA-based bioplastic, when degraded in soil, can also be used as a biofertilizer. Bioplastic fertilizers, or BpF, have been used in farming and gardening for a long time. The best among them were PHAs utilized as a food packaging material. Traditionally food packaging systems were based on plastic food packaging cellulose-based, starch-based, protein-based, etc. Production of food packaging with the help of PHA polymer has become one of the most promising research, which also booms the bioplastic industries. The fermentation process maximizes PHA production and reduces the cost of PHA production using carbon-rich agro-wastes. These PHA biopolymers are produced from microbes and are extracted using different extraction methods; ATPS is the most promising extraction method for the maximum recovery of PHA. Besides having the properties of food packaging and disposable tableware, PHA biopolymer can also be used in numerous biotechnological applications. It can be used in agriculture as crop protection films, biofertilizers, therapeutic applications as a nanodrug carrier, tissue engineering, etc.