Bacterial microcompartments (BMCs) are sophisticated all-protein bionanoreactors widely spread in bacterial phyla. BMCs facilitate diverse metabolic reactions, which assist bacterial survivability in normal (by fixing carbon dioxide) and energy dearth conditions. The past seven decades have uncovered numerous intrinsic features of BMCs, which have attracted researchers to tailor them for customised applications, including synthetic nanoreactors, scaffold nano-materials for catalysis or electron conduction, and delivery vehicles for drug molecules or RNA/DNA. In addition, BMCs provide a competitive advantage to pathogenic bacteria and this can pave a new path for antimicrobial drug design. In this review, we discuss different structural and functional aspects of BMCs. We also highlight the potential employment of BMCs for novel applications in bio-material science.