The worldwide pressure on water resources is aggravated by rapid industrialization, with the food industry, particularly sugar factories, being the foremost contributor. Sugarcane, a primary source of sugar production, requires vast amounts of water, over half of which is discharged as wastewater, often mixed with several byproducts. The discharge of untreated wastewater can have detrimental effects on the environment, making the treatment and reuse of effluents crucial. However, conventional treatment systems may not be adequate for sugarcane industry effluent treatment due to the high organic load and variable chemical and mineral pollution. It is essential to explore pollution-remediating technologies that can achieve a nexus (water, energy, and food) approach and contribute to sustainable development. Based on the extensive literature, membrane technologies such as the membrane bioreactor have shown promising results in treating sugarcane industry wastewater, producing treated water of higher quality, and the possibility of biogas recovery. The byproducts generated from this treatment can also be recovered and used in agriculture for food security. To date, membrane technologies have demonstrated successful results in treating industrial wastewater. This critical review aims to evaluate the performance of traditional and conventional processes in order to propose sustainable perspectives. It also serves to emphasize the need for further research on operating conditions related to membrane bioreactors for valuing sugarcane effluent, to establish it as a sustainable treatment system.