Nanomaterials are materials that display peculiarities at nanoscale dimensions and have extensive applications in medicine, electronics, energy, and environmental protection. Nanomaterials open the door to many advances in terms of targeted drug delivery, enhanced material strength, and better energy storage, among others. However, there are concerns about their safety and risk to human health and the environment. The environmental fate of Nanomaterials, principally their persistence and the likelihood of environmental accumulation, is still a significant concern. Despite their increasing utilization, the safety regulation development for nanomaterials is still in its infancy. Currently, regulations are mostly driven by the properties associated with conventional materials and do not consider the distinctive properties and behavior of nanomaterials, thus creating a void in their risk management. Furthermore, consumer acceptance of nanomaterials, particularly in agricultural products, varies, influenced by perceived benefits like improved safety and yield, and concerns about health and environmental risks. Trust in regulatory bodies, clear labeling, and education can boost acceptance. In general, consumers are less concerned when nanomaterials are used in production, like fertilizers, rather than directly in food, but long-term effects remain a concern. Even though nanomaterials are very promising, their usage needs up-to-date guidelines in regulatory and safety frameworks to counterbalance potential threats and ensure responsible development and use of these newest types of materials across different sectors.