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Actinomycetes synthesize essential secondary metabolites that lead to the production of wide range of secondary metabolites of vital applications in every possible field. Pigments are one of those bioactive molecules. A bio-pigment produced by Streptomyces: melanin, a multifunctional biopolymer pigment, has gained significant attention due to its photoprotective, antioxidant, antimicrobial, and metalchelating properties. This review explores the biosynthesis, isolation, characterization, and applications of melanin derived from actinomycetes, particularly Streptomyces spp. The study highlights the ecological sources, fermentation techniques, media, and analytical methods used to evaluate melanin's physicochemical traits. The potential of microbial melanin as a sustainable alternative to synthetic dyes in cosmetics, pharmaceuticals, and environmental remediation is emphasized.