Disclosed is an edible aerated water-in-oil emulsion comprising a fat phase; an emulsifier; and an aqueous phase, wherein the aqueous phase comprises entrapped gas. Further disclosed is a method for making an emulsion as defined above comprising providing a first component for forming the fat phase of an emulsion; providing a second component for forming the aqueous phase of an emulsion; aerating the second component; and mixing the first component and aerated second component to form a water-in-oil emulsion.