Nanocelluloses are natural materials with at least one dimension in the nano-scale. They combine important cellulose properties with the features of nanomaterials and open new horizons for materials science and its applications. The field of nanocellulose materials is subdivided into three domains: biotechnologically produced bacterial nanocellulose hydrogels, mechanically delaminated cellulose nanofibers, and hydrolytically extracted cellulose nanocrystals. This review article describes today's state regarding the production, structural details, physicochemical properties, and innovative applications of these nanocelluloses. Promising technical applications including gels/foams, thickeners/stabilizers as well as reinforcing agents have been proposed and research from last five years indicates new potential for groundbreaking innovations in the areas of cosmetic products, wound dressings, drug carriers, medical implants, tissue engineering, food and composites. The current state of worldwide commercialization and the challenge of reducing nanocellulose production costs are also discussed.