In the last years, functionalized powders are becoming of increasing interest in additive manufacturing (particularly in laser powder bed fusion processing, L-PBF), due to their improved flowability and enhanced processability, particularly in terms of laser absorbance. Functionalized powders may also provide higher final mechanical or physical properties in the manufactured parts, like an increased hardness, a higher tensile strength, and density levels close to theoretical. Coatings represent a possible interesting approach for powders’ functionalizing. Different coating methods have been studied in the past years, either mechanical or non-mechanical. This work aims to present an overview of the currently obtained coated powders, analyzing in detail the processes adopted for their production, the processability of the coated systems, and the mechanical and physical properties of the final parts obtained by using L-PBF for the powders processing.