The global cosmetic market prized $532.43 billion USD in 2017 is expected to reach $805.61 billion USD by 2023, with a 7.14% compound annual growth rate. These figures have appealed to the cosmeceutical players for developing new and effective products containing advanced materials. Cosmetics incorporated with pharmaceutical actives, termed as 'cosmeceuticals,' are receiving an overwhelming response from cosmetic industry. Nowadays, the implementation of nanotechnology for enhanced effectiveness of cosmeceuticals is witnessing a huge success. These applications include remedies for hair damage, wrinkles, aging and skin dryness. Currently, there is a need to establish regulations and harmonized guidelines for nanotechnology-based products to assess their efficacy, safety and toxicity profiles. This review summarizes current development, applications, safety and regulations of nanocosmeceuticals.