Nanoemulsions have garnered a lot of interest in recent decades as a result of their unique characteristics. These carriers are optically transparent, nonequilibrium, thermodynamically stable dispersion of nano-sized particles. Nanoemulsions possess great potential for pharmaceuticals, cosmetics, and other application areas ranging from the Oil to the food industry. Incorporating nanotechnology into cosmetic formulations is the newest and most cutting-edge technology accessible. With the ability for excellent dispersion of active substances, merging textures, and controlled delivery into the desired layers of skin, nanoemulsions are becoming increasingly popular in skincare products. Advantages of nanoemulsion over cosmetic technologies (such as liposomes, emulsions and microemulsions) include ease of manufacture, adjustable particle sizes, excellent kinetic stability, and low surfactant levels, as well as market benefits like the ability to be manufactured in a variety of forms, such as spray, foam, liquid and cream have accelerated their use. The fundamental objective of this review is to systematically discuss the components, properties, and capabilities of nanoemulsions as final application products for skincare and other cosmeceutical applications as well as to describe how formulators have been preparing nanoemulsions using multiple techniques (e.g., microfludization, high-pressure homogenization, and ultrasonic emulsification). The review further highlights current challenges and opportunities, with an emphasis on recent progress and various applications, to encourage systematic evaluation and selection of nanoemulsion in skincare to reduce the number of investigations and improve study design to achieve target formulations.