Majority of the polysaccharides used in foods are of plant, animal and algae origin. The exopolysaccharides (EPS) produced by food grade lactic acid bacteria (LAB) have gained much importance as biothickeners and texturizers in recent time. Several animal studies and in vitro tests are also suggestive of beneficial health effects associated with the regular consumption of EPS producing LAB. Such biopolymers are not synthesized in abundant amounts, which are a major factor impacting upon production cost and recovery time, considered as major constraints to full commercialization of these technologically important biopolymers. In current article, we reviewed prospective food and health applications of bacterial EPS.