Cellobiose lipids (CBLs) are glycolipid biosurfactants that have garnered attention due to their potential applications in diverse industries. Here, we review the current state of CBL research, from production and purification, to the potential applications of CBLs. We elucidate CBL functionality and consider some commercial applications, as well as how operating conditions (e.g., media and organism, or production approaches) impact productivity. Methodologies based on enzymatic synthesis or postproduction chemical modification of CBL variants are also presented. Given the importance of purity in current CBL applications, we discuss CBL separation and purification techniques. Finally, we highlight the importance of techno-economic and life-cycle assessments for the industrialisation of CBLs, while suggesting potential future routes for investigation.