Despite current developments in combinatorial sciences and high-throughput screening techniques, natural products are still critical components of pharmacopoeias. Currently, there is a global trend towards the usage of the alternative and complementary medicines. Unfortunately, there is a lack in clinical studies comparing the efficacy of conventional therapy and alternative therapies in this regard. Due to the difficulties of traditional medicines’ registrations with legislative offices, and ensuring of quality, safety, and efficacy concerns. This matter has alternatively created a new category of natural products that gives benign health effects beyond diet but before drugs, with less legislation restrictions. This article highlights the rise of nutraceuticals and functional foods, which are foods containing physiologically effective ingredients that afford additional health assistances beyond basic nutrition. The article defines dietary supplements, functional foods, and nutraceuticals and distinguishes between them. The article also discusses the potential advantages of nanoform functional foods and nutraceuticals, such as reducing the risk of chronic and diet-related diseases, and the challenges associated with their regulation. Additionally, this article discussed examples of functional foods and nutraceuticals served as health boosters for COVID-19’s pandemic. Overall, the article emphasizes the need for increased knowledge sharing and collaboration in the development and regulation of traditional and alternative medicines and functional foods.