Abstract: Foods that affect specific functions or systems in the human body, providing health benefits beyond energy and nutrients—functional foods—have experienced rapid market growth in recent years. This growth is fueled by technological innovations, development of new products, and the increasing number of health-conscious consumers interested in products that improve life quality. Since the global market of functional foods is increasing annually, food product development is a key research priority and a challenge for both the industry and science sectors. Probiotics show considerable promise for the expansion of the dairy industry, especially in such specific sectors as yogurts, cheeses, beverages, ice creams, and other desserts. This article presents an overview of functional foods and strategies for their development, with particular attention to probiotic dairy products. Moreover, special attention is paid to the sensory properties of such products to provide important information about their most desirable attributes.