This review paper explores the potential of non-bovine milks—such as those from buffaloes, sheep, goats, and camels—for the production of functional dairy products, emphasizing their nutritional richness and adaptability to environmental conditions. It highlights the variation in milk composition across different species and its impact on the suitability for dairy production, including the development of products enriched with prebiotic or probiotic bacteria. The paper examines the nutritional components, bioactive compounds, and technological processing of non-bovine milks, alongside their applications in creating innovative dairy products like fermented beverages and lactose-free options. Furthermore, it addresses consumer perceptions, market trends, and the environmental sustainability of utilizing non-bovine milks. By underscoring the significance of non-bovine milks in enhancing the dairy industry with healthful and sustainable options, this review aims to advance dairy science and meet the evolving dietary preferences of consumers worldwide.