Graphical abstract Nanotechnology may revolutionize the food industry by providing stronger, high-barrier packaging materials, more potent antimicrobial agents, and a host of sensors which can detect trace contaminants, gasses or microbes in packaged foods. Highlights ► Focuses on the use of nanomaterials in food packaging and sensing applications. ► Polymer nanocomposites offer high gas barriers, strength, and flame retardancy. ► Silver and metal oxide nanoparticles are potent biocides. ► Nanosensors and assays detect gasses, small molecules and microorganisms. ► Economic outlook and health and safety implications are also briefly reviewed.