Summary This review describes and discusses the structure, biosynthesis and applications of exopolysaccharides from lactic acid bacteria. These substances are classified as homopolysaccharides, which are synthesised from sucrose through the action of extracellular glycosyltransferases or heteropolysaccharides, which are synthesised from repeating unit precursors formed in the cytoplasm and assembled extracellularly by the sequential addition of nucleotide sugars. The industrial application of exopolysaccharides is linked to enhancing the texture and rheological properties of certain fermented products and their production in situ being of particular interest. The chemical characteristics of exopolysaccharides influence interactions with milk proteins in fermented dairy products. These compounds reduce gel syneresis and increase the viscosity, water retention capacity and firmness of the gel, all of which are desirable characteristics for the development of low‐fat dairy products. Similarly, they have applications in the production of gluten‐free bakery products and fermented meat products. Main differences between the exopolysaccharides produced by lactic acid bacteria and its main applications in fermented foods.