Nanotechnology has several applications in food industry and it significantly helps in characterization, fabrication, and manipulation of nanostructures. The nanostructures improve the solubility of food ingredients in vivo, along with enhancement in their bioavailability and controlled release at the target site. These nanostructures also serve as anticaking agents, nano-additives, delivery systems for nutraceuticals, etc. Present study highlights different forms of nanoengineered structures applied in food nanotechnology to tune the characteristics of conventional food ingredients and their applications. Literature survey highlighted the application of various types of nanostructures in the food industry. The study focusses on recent advancements in preparation methods of nanostructures as food additives and packaging stuffs along with pros and cons of their application in food industry. The shortcomings associated to nanotechnology in food science have illustrated along with its tentative future perespective. The impact of eco-toxicity due to application of nanostructures has also been discussed based on recent observations. This can suppressed by the application of bioedible polymers instead of synthetic polymers.