Spices are majorly known for adding flavour and aroma to food products. They also possess qualities like antimicrobial, antioxidant, synergism which contribute to their value added benefits when used with food products. They are also used to complement packaging, packaging material, edible films, preservative treatments. Their wide variety of essential oil components work in a very dynamic manner, alone or in combination with some other. Spices have been incorporated in different food products such as bakery, milk products, beverages, meat products, extruded products, fats and oils. They possess variety of phytochemicals with a variety of biological functions, including antibacterial, antiviral, antifungal, and anti-inflammatory properties. These include flavonoids, tannins, glycosides, lignans, carotenoids, sulphides, saponins, and other phytochemicals. They play an important role in promoting numerous health advantages. Spices can come from a variety of plant components, including the bark, buds, flowers, fruits, leaves, rhizomes, roots, seeds, stigmas and styles, and the entire plant tops. Presence of phytochemicals associated to health maintenance through prevention against non-communicable disease development. These are commercially accessible and are primarily designed for large-scale food production, making them cost-effective for food producers. This review paper discusses all the novel applications and uses of spices and their extracts in the food industry.