Mannosylerythritol lipids (MELs), one of the most promising biosurfactants (BS), are glycolipids produced by yeasts or fungi, which have great environmental performance and high compatibility with the human body. MELs, besides working as typical surfactants, can form diverse structures when at or above the critical aggregation concentration (CAC), reduce the surface tension of water and other solutions, and be stable over a wide range of conditions. Among others, MELs present antimicrobial, antitumor, antioxidant and anti-inflammatory activities and skin and hair repair capacity, which opens possibilities for their use in applications from cosmetics and pharmaceutics to bioremediation and agriculture. However, their market share is still low when compared to other glycolipids, due to their less developed production process and higher production cost. This review gathers information on the potential applications of MELs mentioned in the literature since 1993. Furthermore, it also explores the current strategies being developed to enhance the market presence of MELs, in parallel with the ones developed for rhamnolipids and sophorolipids.