Gelatin is a significant multifunctional biopolymer that is widely utilized as a component in food, pharmaceuticals, and cosmetics. Numerous functional qualities are displayed by gelatin, such as its exceptional film-forming ability, gelling qualities, foaming and emulsifying qualities, biocompatibility and biodegradable qualities. Due to its unique structural, physicochemical, and biochemical characteristics, which enhance nutritional content and health benefits as well as the stability, consistency, and elasticity of food products, gelatin is utilized extensively in the food business. Additionally, gelatin has demonstrated excellent performance in encapsulating, delivering, and releasing active ingredients. Gelatin’s various modifications, such as chemical, enzymatic, and physical processes, were analyzed to assess their impact on gelatin structures and characteristics. Hopefully, gelatin will be more widely used in various applications after modification using suitable methods.