Nutraceuticals represent a rapidly growing category of food-derived products combining nutritional and pharmaceutical benefits, serving as alternatives to conventional medicine. This comprehensive review integrates information on nutraceutical definitions, categorization, therapeutic applications across cardiovascular disease, cancer, diabetes, obesity, and neurological disorders, along with marketed products, formulation strategies, and quality control measures. Novel nanoformulation approaches enable overcoming bioavailability challenges. Evidence supports nutraceutical efficacy in disease prevention and as adjunctive therapy. Adulteration remains a critical safety concern requiring advanced analytical detection methods. Patent landscape data demonstrates exponential market growth. Future development requires standardized quality protocols, comprehensive clinical validation, and regulatory harmonization.