The rapid development of nanotechnology has transformed many domains of food science, especially those that involve the processing, packaging, storage, transportation, functionality, and other safety aspects of food. A wide range of nanostructured materials (NSMs), from inorganic metal, metal oxides, and their nanocomposites to nano-organic materials with bioactive agents, has been applied to the food industry. Despite the huge benefits nanotechnology has to offer, there are emerging concerns regarding the use of nanotechnology, as the accumulation of NSMs in human bodies and in the environment can cause several health and safety hazards. Therefore, safety and health concerns as well as regulatory policies must be considered while manufacturing, processing, intelligently and actively packaging, and consuming nano-processed food products. This review aims to provide a basic understanding regarding the applications of nanotechnology in the food packaging and processing industries and to identify the future prospects and potential risks associated with the use of NSMs. Display omitted •Nanotechnology has transformed many domains of food science, especially preservation and safety of food.•A wide range of nanomaterials have witnessed their applications in food industry.•Nanotechnology also offers advantageous benefits on human health than conventional approaches.•Encapsulation of nutraceuticals improves their stability, and bioavailability leading to beneficial effects to humans.