Polar lipids, such as monoglycerides and phospholipids, are amphiphilic molecules commonly used as processing and stabilization aids in the manufacturing of food products. As all amphiphilic molecules (surfactants, emulsifiers) they show self-assembly phenomena when added into water above a certain concentration (the critical aggregation concentration). The variety of self-assembly structures that can be formed by polar food lipids is as rich as it is for synthetic surfactants: micelles (normal and reverse micelles), microemulsions, and liquid crystalline phases can be formulated using food-grade ingredients. In the present work we will first discuss microemulsion and liquid crystalline phase formation from ingredients commonly used in food industry. In the last section we will focus on three different potential application fields, namely (i) solubilization of poorly water soluble ingredients, (ii) controlled release, and (iii) chemical reactivity. We will show how the interfacial area present in self-assembly structures can be used for (i) the delivery of functional molecules, (ii) controlling the release of functional molecules, and (iii) modulating the chemical reactivity between reactive molecules, such as aromas.