Consumers all across the world are looking for the most delectable and appealing foods, while also demanding products that are safer, more nutritious, and healthier. Substitution of synthetic colorants with natural colorants has piqued consumer and market interest in recent years. Due to increasing demand, extensive research has been conducted to find natural and safe food additives, such as natural pigments, that may have health benefits. Natural colorants are made up of a variety of pigments, many of which have significant biological potential. Because of the promising health advantages, natural colorants are gaining immense interest in the dairy industry. This review goes over the use of various natural colorants in dairy products which can provide desirable color as well as positive health impacts. The purpose of this review is to provide an in-depth look into the field of food (natural or synthetic) colorants applied in dairy products as well as their potential health benefits, safety, general trends, and future prospects  in food science and technology. In this paper, we listed a plethora of applications of natural colorants in various milk-based products.