Applications of nanotechnology in various spheres have increased manifold as it offers solution to unsolved problems with higher effectiveness. Nanoemulsions are one such system that are widely studied and have a very promising potential in solving various issues as those encountered in delivery of drugs, pesticides or any other biologically potent substance. Apart from this, nanoemulsions have wide applications in the field of food, cosmetics, skincare and agriculture. In this review, we have discussed and compared the methods of nanoemulsion preparation and various methods of synthesis, along with few major applications in various fields of science and technology. We sincerely hope that this review will help to understand the different aspects of nanoemulsions and help us to explore its potent applications in various fields. Display omitted •Nanoemulsions have been employed in various medical applications.•Nanoemulsion based vaccines reveal good protein stability, protein structure integrity and protein specificity.•They increase drug bioavailability, protect drugs from degradation and can be administered via different routes.•Promising applications in cosmetics and skincare.•Numerous nanoemulsion based consumer products in market.