The cosmetic industry has a history of constant modernization, with products that are increasingly sustainable and well tolerated by the customers. In the last years, the growing understanding and knowledge of the potential of marine species, as well as the application of “blue biotechnology” have been motivating new innovative solutions in this area. Marine organisms are important sources of compounds that may be applicable in cosmetics, with biological activities that include depigmentant, anti-aging or anti-bacterial properties, specifically against acne, but also as formulation promoters and facilitators. Several methods can be used to extract these molecules, but these are not free of challenges and implications – possible biological and chemical contamination, and problems with batch reproducibility, which can be associated to the intraspecific variability of the different specimens, should be considered. Alongside these, the legislative and normative framework is increasingly developed and there is a growing concern with this situation. The application of sustainability fundamentals in the production of cosmetics must respect a life cycle approach, critically analyzing each stage. In this sense, “blue biotechnology”, in constant evolution, together with the use of invasive species or marine waste products to obtain new active ingredients, emerge as innovative and sustainable solutions for the future’s cosmetics industry. This review explores various biological properties of marine-derived molecules and discusses the challenges and implications associated with extracting these compounds. It also examines recent advancements in 'blue biotechnology' and their relevance to the sustainable development of innovative cosmetics.