Iron deficiency is a significant cause of iron deficiency anemia (IDA). Treatment of IDA is challenging due to several challenges, including low target bioavailability, low palatability, poor pharmacokinetics, and extended therapeutic regimes. Nanotechnology holds the promise of revolutionizing the management and treatment of IDA. Smart biogenic engineered nanomaterials (BENMs) such as lipids, protein, carbohydrates, and complex nanomaterials have been the subject of extensive research and opened new avenues for people and the planet due to their enhanced physicochemical, rheological, optoelectronic, thermomechanical, biological, magnetic, and nutritional properties. Additionally, they show eco-sustainability, low biotoxicity, active targeting, enhanced permeation and retention, and stimuli-responsive characteristics. We examine the opportunities offered by emerging smart BENMs for the treatment of iron deficiency anemia by utilizing iron-fortified smart foods. We review the progress made so far and other future directions to maximize the impact of smart nanofortification on the global population. The toxicity effects are also discussed with commercialization challenges.