Nanotechnology has applications in a variety of scientific specialties, encompassing health, technological devices, and now cosmetics under the generic term of nanocosmetics. Due to the improved particle qualities, such as color, transparency, and solubility, acquired at the nanoscale, nanotechnology significantly affects the cosmetic industry. Skin penetration mechanism depends heavily on the nanoparticles’ physicochemical properties, including stiffness, hydrophobicity, size, and charge. An expanding industry that requires more research and development has been created by nanoparticle production technologies. Liposomes, solid lipid nanoparticles, cubosomes, dendrimers, and other nanomaterials offer advanced skincare properties. Cosmetics made using nanotechnology have the advantages of product diversity, increased bioavailability of active compounds, and enhanced pleasing appearance of cosmetics with long-lasting benefits. The various cosmetic brands’ utilization of various types of nanomaterials in their products is highlighted in this review.