Bio-based products can be obtained from natural renewable resources or produced after suitable bioprocessing. Almost every industry/sector, including energy, nutraceuticals, packaging, plastics, and many more, is currently concentrating on making bio-based materials, as these materials are bio-renewable, degradable, and environmentally safe. Bio-based nutraceuticals have gained popularity in recent decades due to their beneficial effects on the population and their role in lowering the risk of different diseases. In the present review, we have focused on the functional performance of various bio-based emulsifiers, natural preservatives, lipids, and surfactants with in-depth detail on their classification, functional roles, microorganisms involved in their production, and future perspectives. Thus, for commercial production, the use of renewable resources over fossil-based resources can provide tremendous advantages like protection to the environment, decreased production cost, and compounds with equal or improved yield.