Postbiotics are biologically active probiotic microorganisms that have produced non-viable bacterial products in the host. Eating a diet high in probiotic and prebiotic foods may help to ensure that the gut has an appropriate supply of these essential nutrients because postbiotics are produced when probiotics feed on prebiotics. Cell wall components and metabolites produced by living bacteria that have positive effects on the host are referred to as postbiotics. Postbiotics are functional bioactive chemicals that are produced in a matrix during anaerobic fermentation of organic nutrients like prebiotics. Postbiotics are low molecular weight soluble chemicals that are either produced after microbial cell lysis or secreted by live microflora as byproducts of this metabolic process. In general, the producer strains from bacterial and fungal species such as Lactobacillus, Bifidobacterium, Streptococcus, Akkermansia muciniphila, Saccharomyces boulardii, Eubacterium hallii, Faecalibacterium, etc. When handling and selling food items in an industrial setting, postbiotics can be used as functional components in foods, which has a number of advantages, including the potential to be added to some foods that are known to be harmful to probiotic survival. Postbiotic supplements have grown in popularity among customers because of their numerous health advantages, particularly food, cosmetic, and healthcare industries. Classification of postbiotics depends on various factors including type of microorganism, structural composition, and physiological functions. This review presents a succinct introduction, history, and concept of postbiotics, the salient features of postbiotics, classification, production, purification, characterization, biological functions, and applications of postbiotics in the food industry.