Biotechnology is a widespread field of technology based on biology. Over the years, many forecasts have predicted remarkable breakthroughs in biotechnology, such as cures for diseases, the end of hunger, and solutions for reducing reliance on petrochemicals. However, the reality of biotechnology has been more about steady progress in areas like food processing, material production, and medical advancements. Biotechnology is superior to the conventional food processing sector, especially in nutritional enhancement, fruit and vegetable processing, fermented foods, cereal processing, beverages, fats and oils, dairy, poultry, and confectionery. It can produce palatable and longer shelf life food that is safer and has improved quality in relation to nutrition, physicochemical properties, and sensory properties. This comprehensive chapter on biotechnological horizons in food processing describes the future perspectives and challenges considering emerging trends in biotechnological applications, contribution to sustainable food systems, circular economy in food systems, and personalized nutrition. Biotechnology undoubtedly will improve many features of human existence; however, these technologies may also create challenges, including regulatory hurdles, social issues, public perception, industry adaptation, etc.