Fruits are not only important for the plants but also for ensuring sustainable food security of the burgeoning global population. Considering the huge nutritional and ecological importance of fruits, investigation of mechanisms, and factors governing their development and ripening is crucial. The investigation of fruit development in several economically important crops such as tomato, strawberry, grape, and banana includingCapsicumsuggest that early fruit development is largely dependent on auxins and gibberellins (GAs) whereas later ripening is dependent on ethylene or abscisic acid (ABA). The initial development is relatively conserved whereas the ripening of fruits can be either climacteric or non‐climacteric depending on the presence or absence of respiratory burst and ethylene production respectively. Climacteric fruit ripening is mediated by ethylene, and it is well studied in tomato and banana, whereas non‐climacteric fruit ripening requires ABA and much of the information on it comes from strawberry and grape. The genusCapsicumL. shows rich diversity in fruit traits such as shape, colour, size, and even in its ripening behaviour. Early fruit development in different species ofCapsicumappears similar to other fruit crops, whereas later fruit ripening behaviour in different species ofCapsicumcan be either climacteric or non‐climacteric depending upon evolution of ethylene and respiratory burst. It has been found that, even different cultivars of the same species ofCapsicumshow variation in ripening behaviour suggesting interspecific and intraspecific complexities in fruit ripening responses. Until a few years, a majority of the papers have focussed on the non‐climacteric nature of fruit ripening inCapsicum. However, recent studies have shown substantial involvement of ethylene and ethylene related genes in fruit ripening ofCapsicumsuggesting the existence of extensive common regulons between climacteric and non‐climacteric fruits. Recent studies have also suggested the involvement of several epigenetic mechanisms such as non‐coding RNAs (ncRNAs) and cytosine methylation in regulating fruit development and ripening. With the advent of new tools in the omics field such as genomics, transcriptomics, metabolomics, and epigenomics, there is considerable progress in understanding the fruit development and complex nature of ripening inCapsicum. Nevertheless, consolidated information onCapsicumfruit development and its complex nature of ripening is not available. In this article, an attempt is made to present up to date consolidated information on the development and ripening ofCapsicumfruit with an emphasis on its genetic, epigenetic, and hormonal regulation.