Recent developments in the field of microwave planar sensors have led to a renewed interest in industrial, chemical, biological and medical applications that are capable of performing real-time and non-invasive measurement of material properties. Among the plausible advantages of microwave planar sensors is that they have a compact size, a low cost and the ease of fabrication and integration compared to prevailing sensors. However, some of their main drawbacks can be considered that restrict their usage and limit the range of applications such as their sensitivity and selectivity. The development of high-sensitivity microwave planar sensors is required for highly accurate complex permittivity measurements to monitor the small variations among different material samples. Therefore, the purpose of this paper is to review recent research on the development of microwave planar sensors and further challenges of their sensitivity and selectivity. Furthermore, the techniques of the complex permittivity extraction (real and imaginary parts) are discussed based on the different approaches of mathematical models. The outcomes of this review may facilitate improvements of and an alternative solution for the enhancement of microwave planar sensors' normalized sensitivity for material characterization, especially in biochemical and beverage industry applications.