The consumption of cultivated berry species (e.g., strawberries, blueberries) has increased dramatically in the last two decades after consumers appreciated them as flavorful, convenient and healthy fruits. Wild berries and similar small wild fruits are traditionally consumed around the world by local people as safe, nutritious, tasty, and versatile foods. These wild fruits have played an important role in the nutrition and bio-cultural aspects of rural communities. Like their commercial counterparts, wild berries contain important nutrients and bioactive compounds that may prevent or delay some chronic diseases attributed to oxidative stress and chronic inflammation. This review provides a comprehensive appraisal of the chemical and bioactive components in wild berry species and their traditional uses as foods around the globe. Presently, wild berries and similar wild small fruits are novel food sources that inspire applications as culinary products, processed foods, and nutraceuticals. Further research is needed to validate the content and action of bioactive components responsible for health claims. Sustainable commercial exploitation of wild berries should consider biocultural, environmental, and socio-economic aspects.