Huangjing (Polygonati Rhizoma), a cornerstone medicinal-edible resource in China, derives its therapeutic value from polysaccharides, saponins, and flavonoids through the mediation of metabolic and immune regulation. These bioactivities underpin 353 registered Chinese health foods, which are primarily developed through technologies such as total extract standardization and modernized polyherbal formulation. Among these products, 45.9% claim fatigue reduction and 44.5% claim immunity enhancement. The advancement of the industry faces three critical challenges: germplasm heterogeneity leading to bioactivity variation, deficient quality standards that rely on empirical processing methods like the traditional Nine-Steaming-Nine-Sunning technique, and technological limitations that hinder the development of high-value products. This review integrates recent advances in understanding its health mechanisms, quality control methodologies, and industrial progress. We advocate for a three-dimensional quality marker (Q-marker) system to replace reliance on single-chemical markers. This system would encompass foundational specifications (e.g., polysaccharide molecular weight distribution), biofunctional indicators (e.g., macrophage phagocytosis rate), and authenticity verification measures. Strategies for cultural globalization, including obtaining ISO intangible heritage certification and promoting cultural-tourism integration, can support its expansion into global markets. Collectively, these approaches establish a scientific framework for sustainable resource utilization and high-value product development, ensuring global regulatory compliance.