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Wild fruits growing in remote areas are a valuable source of food and income for local communities but are often overlooked and underutilized. Himalayan bayberry (Myrica esculenta) is a member of the Myrica genus that contains 97 species. With its high nutritional content, Myrica esculenta has the potential to provide food security and income for rural communities. The fruit of Myrica esculenta contains ascorbic acids, phenolics, flavonoids, saponins, and alkaloids. The main compounds found in the fruit are hydroxybenzoic acid, gallic acid, p-coumaric acid, caffeic acid, catechin, ellagic acid, trans-cinnamic acid, chlorogenic acid, and myricetin. It is also a good source of protein, carbohydrates, and vitamin C. Therefore, fruits are used in the making of many foods and beverages like jams, syrups, etc. It has anticancer, anti-inflammatory, antidiabetic, antimicrobial, and antifungal activities. Therefore, it is important to recognize and support the utilization of these underutilized wild fruits to unlock their full potential for both local communities and the wider population.