Space is the final frontier and mankind has long desired to explore the vast expanse of the universe in the pursuit of finding new worlds. The need for nutritious and long-lasting food during deep space missions have however, been an impediment to this quest. Although challenging, researchers from different public and private space organizations and institutes have come together striving hard to develop food processes, product quality and safety protocols for advancing the field of space foods. Even NASA has proposed nanomaterial-based packaging to preserve space foods longer than 5 years. Therefore, a fresh outlook is required on processing and packaging technologies currently adopted for the preparation of space foods. This review provides an overview of the inception of space foods followed by its physico-chemical and microbiological quality considerations, and processing and packaging technologies. The market opportunities available for space foods has also been covered highlighting the major players in the space food processing sector. Literature review indicates that freeze-drying has been used as a space food preservation technology of choice for years, but the combination of high-pressure processing and thermal treatment is now gaining attention due to its potential in extending the shelf life of space foods upto 5 years. Besides, 3D printing has also emerged as an economically viable technology for producing more nutritious and organoleptically appealing space foods. Currently, the major constraint for space food research is simulating the environment of space for testing food processes and packaging materials which could be explored.